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NMP News

MBA's PAC Honors the Work of David Motley

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The Mortgage Bankers Political Action Committee (MORPAC) has awarded David Motley, CMB, president of Colonial National Mortgage, with the 2014 Schumacher-Bolduc Award. The Award was given to Motley in recognition of his outstanding work on behalf of the committee and the mortgage lending industry. Click to continue

National Credit Default Rates Rise Slightly in September

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Data through September 2014, released by S&P Dow Jones Indices and Experian for the S&P/Experian Consumer Credit Default Indices, a comprehensive measure of changes in consumer credit defaults, showed an uptick in default rates. The national composite posted 1.04 percent in September, up three basis points from July 2014’s historical low. For the second consecutive month, the first mortgage default rate rose, to 0.93 percent in September.Click to continue

Rep. Cummings and Sen. Warren Call on GAO to Probe Non-Bank Servicers

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Rep. Elijah E. Cummings, Ranking Member of the House Committee on Oversight and Government Reform, and Sen. Elizabeth Warren, member of the Senate Committee on Banking, Housing and Urban Affairs, called on the Government Accountability Office (GAO) to investigate threats to consumers arising from the growth in non-bank mortgage servicing.Click to continue

Zillow Mortgages: Fixed-Rates Remain Below Four Percent

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The 30-year fixed-rate mortgage (FRM) on Zillow Mortgages is currently at 3.81 percent, unchanged from this time last week. The 30-year FRM hovered around 3.85 percent for most of the week, dropping to 3.70 percent Wednesday before rising to the current rate.Click to continue

MBA's Future Leaders Program Honors 35 at Annual Convention

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The Mortgage Bankers Association (MBA) recognized 35 mortgage professionals in a graduation ceremony for MBA’s Future Leaders Program held at MBA's 101st Annual Convention & Expo in Las Vegas. MBA's Future Leaders Program, in its 18th year, delivers a leadership training experience for selected participants through three sessions offered throughout the year.Click to continue