National industry appointments update - 10/29/2007 – NMP Skip to main content

National industry appointments update - 10/29/2007

National Mortgage Professional
Oct 28, 2007

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.
Published
Oct 28, 2007
Lenders Complain FGMC Is 'Radio Silent' On Loans

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FGMC Files For Chapter 11 Bankruptcy Protection

FGMC notified laid-off 471 employees late Tuesday night that it would pay severance.

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Late-night email tells laid-off workers they'll receive one week of pay for each year of service.

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Both firms represent a former employee suing over lack of 60-day notice before mass layoff on June 24.

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