Landing commercial deals with purchase assignments

National Mortgage Professional

Mar 12, 2008

CommercialApps.com pays bonus compensation to mortgage originatorsMortgagePress.comloan applications, five basis points of the funded loan amount CommercialApps.com LLC has announced that mortgage loan originators are now compensated for using CommercialApps.com (CAPPS). For loan applications submitted and closed through CAPPS, CAPPS compensates the mortgage loan originator five basis points of the funded loan amount. CAPPS is an online service that allows mortgage loan originators in the U.S. and Canada to prepare and submit multi-family and commercial property loan applications to local, regional and national income property lenders. CommercialApps.com LLC is a technology solution provider to the income property mortgage industry based in Irvine, Calif. For more information, call (800) 553-4815 or visit www.commercialapps.com.

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Mar 12, 2008

Reverse

Reverse Mortgage Funding Files Chapter 11 Bankruptcy

Filing for protection from creditors comes just a day after company laid off 400 employees.

A day after laying off 80% of its staff — about 400 people — Reverse Mortgage Funding LLC filed for protection from creditors in federal bankruptcy court. The Bloomfield, N.J.-based reverse mortgage lender on Wednesday filed a petition for Chapter 11 bankruptcy in U.S. Bank...

Regulation and Compliance

MBA Offers Suggestions For Improving Refis, Forbearance

Responds to CFPB's request for information published in September.

Prioritize reforms that will lower loan manufacturing costs, including a review of regulations that add to those costs that may have “unclear consumer benefits.” That’s just one of the suggestions contained in a 22-page letter filed Monday by the Mortgage Bankers Associatio...