New York industry appointments update - 1/25/2007

Jan 24, 2007

Ace Mortgage acquires Millennium FundingMortgagePress.comAce Mortgage,Millennium Funding Ace Mortgage Funding LLC (AMF) has announced the acquisition of Millennium Funding Group (MFG). MFG, which will now operate as a subsidiary of AMF, originates more than $1 billion in annual loan volume, through a network of 4,000 approved brokers. Comparatively, AMF originates $3 billion in loans annually, through 700 loan officers. AMF is a retail mortgage brokerage based in Indianapolis. For more information, call (877) 223-7334 or visit www.acerefi.com. MFG is a national mortgage lender based in Indianapolis. For more information, call (877) 771-6566 or visit www.mfgloans.com.

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Jan 24, 2007

Courts

NEXA's Drawn-Out Legal Battle With Smart Mortgage Centers Gets Dismissed

Lawsuit over alleged "stolen" client information gets dismissed due to a lack of evidence

NEXA Mortgage LLC and Secured Mortgage Processing (SMP), scored a major victory yesterday, Sept. 19, in the companies' drawn-out legal battle with Smart Mortgage Centers Inc. when the Twelfth Circuit Court of Illinois dismissed the case for a lack of evidence. In the ini...

Analysis and Data

Mortgage Payments See Highest Decline Since May 2020

Impact of Fed rate cut on mortgage rates not yet tangible

Housing payments made their sharpest drop in more than four years during the week leading up to the Federal Reserve’s highly anticipated rate cut. While affordability is rising, the impact of the Fed's decision on mortgage rates and the housing market has yet to pan out. ...