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National Mortgage Professional

Oct 18, 2007

Baker Donelson establishes sub-prime task forceMortgagePress.comSub-prime mortgage statistics Baker, Donelson, Bearman, Caldwell & Berkowitz PC has created a sub-prime mortgage task force, a disciplinary practice group of attorneys from across the firm's five-state and Washington, D.C. domestic footprint. "We've assembled a team of attorneys who can assist clients with [a] wide spectrum of matters," said the firm's CEO, Ben Adams, "whether involving complex litigation defense in class-action suits, providing advice on regulatory compliance or tracking and advancing financial institution client interests before local, state and federal legislative bodies." Baker, Donelson, Bearman, Caldwell & Berkowitz PC is a law firm based in Memphis, Tenn., with offices across the Southeastern United States, as well as in Beijing and London. For more information, call (901) 526-2000 or visit www.bakerdonelson.com.

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Oct 18, 2007

Analysis and Data

Mortgage Rates Fall For 3rd Straight Week

The 30-year mortgage dropped to 6.32%, lowest since mid-February.

Amid continued economic unrest, mortgage rates fell for the third consecutive week this week, Freddie Mac said Thursday. According to the government-sponsored enterprise’s Primary Mortgage Market Survey (PMMS), the 30-year, fixed-rate mortgage (FRM) averaged 6.32%, down 10 ...

Regulation and Compliance

Chopra: Nonbanks, Mortgage Servicers May Also Pose Systemic Risk

CFPB director tells Consumer Bankers Association conference such a failure could lead to 'chaos.'

What happens if a nonbank lender or large mortgage servicer fails? That’s a question that recently has been keeping Consumer Financial Protection Bureau Director Rohit Chopra awake at night. "A major disruption or failure of a large mortgage servicer really gives me a night...