The Mortgage Bankers Association (MBA) has released its Weekly Mortgage Applications Survey for the week ending March 12, 2010. The Market Composite Index, a measure of mortgage loan application volume, decreased 1.9 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index decreased 1.7 percent compared with the previous week.Read more

Robert E. Story Jr., CMB, chairman of the Mortgage Bankers Association (MBA), has issued the following statement in reaction to proposed legislation to modernize regulation of the financial services industry: "MBA supports efforts to modernize the regulatory structure for mortgage banking firms, but we are concerned that this bill could be headed down several of the same wrong paths as the legislation that moved through the House late last year.Read more

Today, March 11, 2010, Mike Anderson, CRMS, vice chairman of the Government Affairs Committee for the National Association of Mortgage Brokers (NAMB) will testify before the House Financial Services Subcommittee on Housing and Community Development at a hearing entitled, “The FHA Reform Act of 2010.” The hearing, which will start at 2:00 p.m. EST and be held at the 2128 Rayburn House Office Building, consisting of two panels: Panel I will include Federal Housing Administration (FHA) Commissioner David H.Read more

Delinquency rates continued to increase in the fourth quarter for most commercial/multifamily mortgage investor groups, according to the Mortgage Bankers Association's (MBA) Commercial/Multifamily Delinquency Report. Between the third and fourth quarters, the 30-plus day delinquency rate on loans held in commercial mortgage-backed securities (CMBS) rose 1.63 percentage points to 5.69 percent. The 60-plus day delinquency rate on loans held in life company portfolios decreased 0.04 percentage points to 0.19 percent.Read more

The Mortgage Bankers Association (MBA) has released its Weekly Mortgage Applications Survey for the week ending March 5, 2010. The Market Composite Index, a measure of mortgage loan application volume, increased 0.5 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 1.2 percent compared with the previous week.Read more

The Mortgage Bankers Association (MBA), American Bankers Association (ABA), American Financial Services Association (AFSA) and 11 state and local mortgage lending groups filed a comprehensive comment letter to the U.S. Department of Housing & Urban Development (HUD) expressing serious concerns about several proposed regulations under the Secure and Fair Enforcement for Mortgage Licensing Act (SAFE Act).Read more

Sarah Hulbert has been named senior vice president, reverse mortgages, for Seattle Mortgage Company. Seattle Mortgage Company is a subsidiary of Seattle Bank. Hulbert is a nationally-recognized leader in the reverse mortgage industry, with nearly 20 years of experience in every facet of the business. She was previously with Seattle Mortgage Company from 2000-2006, serving as senior vice president and national director as the company’s reverse mortgage operation grew to become the third largest originator in the nation.Read more

The Mortgage Bankers Association (MBA) has released its Weekly Mortgage Applications Survey for the week ending Feb. 26, 2010. The Market Composite Index, a measure of mortgage loan application volume, increased 14.6 percent on a seasonally adjusted basis from one week earlier. On an unadjusted basis, the Index increased 15.5 percent compared with the previous week.Read more

Radian Group Inc. has announced that it has appointed Robert Griffith as executive vice president and chief operating officer of Radian Guaranty Inc., its principal mortgage insurance subsidiary. Griffith will lead the company's operations, loss management and information technology functions. He will report directly to Radian Guaranty President Teresa Bryce.Read more

The Mortgage Bankers Association (MBA) has announced that it has developed a concept for a new forbearance program that would allow qualified borrowers who had lost their jobs to remain in their homes while they seek new employment. According to the proposed program, loan servicers would reduce the borrower's mortgage payment to an affordable amount for up to nine months while the homeowner looked for employment.Read more