MBA presents legislative service award to National City's Konyk

May 10, 2007

VirtualBank forms Seniors Lending GroupMortgagePress.comReverse mortgages VirtualBank has announced the formation of its Seniors Lending Group, specializing in a complete suite of conventional reverse mortgage products. The loans offered by the Seniors Lending Group are for people 62 or older who want to convert their homes' equity into cash without the worries of owing more than the homes are worth. VirtualBank is a federally chartered bank based in Palm Beach, Fla. For more information, call (877) 998-2265 or visit www.virtualbank.com.

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May 10, 2007

Courts

Six Mortgage Brokerages Sued Over Alleged Kickback Scheme

Pennsylvania AG claims up to $1M swapped hands between agents and brokers

A cautionary tale for mortgage brokers arrived this week from Allentown, Pa., after state prosecutor and former Pa. Attorney General, Michelle Henry, filed a lawsuit against six mortgage brokerages that operate in the area, and their manager, Barry Newhart, concerning an all...

Analysis and Data

Existing-Home Sales See Quickest Climb Since Last February

Median home prices remain at record high, sales near-30-year low

Despite high prices and mortgage rates, existing-home sales in the last three months of 2024 “showed solid recovery,” according to the National Association of Realtors (NAR). Sales grew by 2.2% in December from the month before to a seasonally adjusted annual rate of 4.2...