National industry appointments update - 4/5/2007

Apr 04, 2007

USDA adds American Southwest to guaranteed underwriting pilotMortgagePress.comUSDA Rural Development The United States Department of Agriculture (USDA) Rural Development has approved American Southwest Mortgage Corporation (ASMC) to underwrite USDA Rural Development Guaranteed Rural Housing Loans using the new Guaranteed Underwriting System (GUS). GUS was developed by USDA Rural Development to automate a manual underwriting process, which considers loan applications for approval. Oklahoma City-based American Southwest Mortgage Corporation is a mortgage lender and subsidiary of SpiritBank. For more information, call (888) 593-1003 or visit www.amswmtg.com.

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Apr 04, 2007

Regulation and Compliance

Bank Mergers Face Additional Scrutiny By FDIC

FDIC considers small businesses and residential loan originations when evaluating a merger’s competitive effects.

Bank mergers are expected to face increased scrutiny after the Federal Deposit Insurance Corporation (FDIC) Board of Directors approved a Final Statement of Policy (Final SOP) to its Bank Merger Transaction guidelines, finalized on September 17. The board also voted 3-2 i...

Analysis and Data

NAR Reports August Sales Slump, Aligning With Broader Industry Data

August sales dip, but analysts eye year-end comeback with lower rates and rising supply

Although existing-home sales fell again in August, lower mortgage rates and rising supply could propel a resurgence before the year ends. Existing-home sales retreated 2.5% in August to a seasonally adjusted annual rate of 3.86 million, sliding 4.2% from one year ago, th...