MBA debuts foreclosure prevention resource center, examines warehouse sector, launches new professional designationMortgagePress.comForeclosure prevention resources
The Mortgage Bankers Association (MBA) has added a foreclosure
prevention resource center to its consumer education Web site, HomeLoanLearningCenter.com.
The bilingual site includes a listing of major loan servicers and
their contact information, as well as the guide, "Things to Know
When You Contact Your Lender." The site also includes an
easy-to-use glossary and foreclosure fact sheet, as well as links
to other helpful sites.
In addition, the MBA's eMortgage Adoption Task Force has
released a white paper focusing on the warehouse lending process.
The paper examines the legal underpinnings of eMortgages in the
warehouse lending sector under the Uniform Electronic Transaction
Act and the Electronic Signatures in Global and National Commerce
Act, both of which lay the legal foundation for the industry's
transition to electronic loan files.
Finally, the MBA has launched a professional designation created
exclusively for residential loan officers, the Certified Loan
Officer (CLO) designation. The CLO designation will demonstrate to
consumers and industry professionals that the holder has been
recognized as qualified by the MBA.
The MBA, based in Washington, D.C., is a national trade
association that represents the real estate finance industry. For
more information, call (202) 557-2700 or visit www.mbaa.org.