National industry appointments update - 11/26/2007

National Mortgage Professional

Nov 25, 2007

Mortgage Cadence to release reverse mortgage POSMortgagePress.comReverse mortgage POS Mortgage Cadence Inc. has announced it will provide a new point of sale technology, Mortgage Cadence Prelude, specifically designed for use by lenders moving into the reverse mortgage lending channel. "Mortgage Cadence Prelude will be as easy to use as the simplest forward-lending origination software, but will include the specific functionality required to originate reverse mortgages," said Mortgage Cadence Inc. CEO Michael Detwiler. Mortgage Cadence is a supplier of mortgage lending platforms based in Greenwood Village, Colo. For more information, call (888) 462-2336 or visit www.mortgagecadence.com.

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Nov 25, 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...