Angelo R. Mozilo: Co-founder of Countrywide builds company around passion and generosity

May 31, 2006

Encompass sales on the riseMortgagePress.comAutomated mortgage origination, Ellie Mae, Encompass Ellie Mae has reported a spike in sales of its Encompass Mortgage Automation System, stating that between May 2005 and May 2006, its number of clients grew by 216 percent, increasing from 5,586 to 12,067. In addition, the number of users grew from 73,768 to 119,510 during that period and estimated market share reached 28 percent, up from 7 percent in late 2004. Ellie Mae is a software and services provider for the mortgage industry based in Dublin, Calif. For more information, call (888) 955-9100 or visit www.elliemae.com.

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May 31, 2006

Analysis and Data

Teensy Nudge Up For 30-Year Fixed-Rate Mortgage Rates

30-year FRM stays essentially flat following seven weeks of downward drift

The average 30-year fixed-rate mortgage (FRM) rate rose ever so slightly to 6.65% as of the week ending March 13, an increase from 6.63% the prior week, according to Freddie Mac’s Primary Mortgage Market Survey (PMMS). Sam Khater, chief economist at the company, note...

Regulation and Compliance

New FHFA Director To Prioritize Efficiency Over GSE Re-Privatization

Industry groups applaud Bill Pulte’s confirmation as FHFA Director, pledge to work on U.S. housing affordability ‘crisis’

Now that the U.S. Senate has confirmed Bill Pulte as Director of the Federal Housing Finance Agency (FHFA), reports have it that Pulte’s top priority will not be removing Fannie Mae and Freddie Mac from government conservatorship. Rather, he’ll focus on rooting out any f...