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National Mortgage Professional

Aug 07, 2007

Velocity Commercial Capital expands to San FranciscoMortgagePress.comSan Francisco mortgage lenders Velocity Commercial Capital (VCC) has officially opened its San Francisco sales office. "The addition of the San Francisco office will surely translate into better customer service throughout the thriving Northern California market," said Joseph Cowell, the company's Western regional vice president. "We have an experienced team in place, and we're excited to see what they can do." Westlake Village, Calif.-based VCC is a nationwide direct wholesale lender specializing in small-balance commercial loans. For more information, call (866) 505-3863 or visit www.velocitycommercial.com.

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Aug 07, 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...