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Mortgage Banking News
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• St. Louis-Based USA Mortgage Originates All Time High $1.206 Billion in Home Loans in 2009
St. Louis-based USA Mortgage announces that it originated $1.206 billion in home loans in 2009, an all-time high and a 106 percent increase over the $586 million in loans it originated in 2008.
USA Mortgage,Kenn Entringer,St Louis Mo 02/08/2010
• Chase Denied Loan Mods for Now Forbidden Reason—Homeowners in Limbo
On the Saturday before Thanksgiving, Lesa Herron of Santa Rosa, Calif., opened a letter from Chase Home Finance [1] (PDF). She’d been denied a permanent modification under the federal government’s loan-mod program, Chase said, because “Your hardship is not of a permanent nature.”
Eye on the Bailout,Mike Webb, 02/08/2010
• Cambridge Credit Counseling Expands ITS Money America Radio Program TO Meet Community Needs
Weekly WAIC 91.9 FM radio program goes to an hour-long format to provide additional financial information to the local community.
Cambridge Credit Counseling Corp.,Thomas Fox,Agawam MA 02/08/2010
• Credit News From Premier By Louis S. Barnes February 5, 2010
The potential collapse of the euro currency, sinking stocks, and a dead job market here have combined to push long-term rates down. 10-year Treasurys are trading at 3.57% despite a huge new borrowing next week, and mortgages are 5.00% flat.
Premier Mortgage Group, Inc,Lou Barnes,Boulder Co 02/08/2010
• Loan Value Group Launches RH Reward Program for Responsible Homeowners; Major U.S. Investor Is First User of New Strategic Default Mitigation Platform
Loan Value Group LLC (LVG) today announced the launch of an incentive-based program to address the potential for strategic default in the more than 10 million homes in the U.S. with substantial negative equity – representing nearly $2 trillion of mortgage debt. The vast majority of these loans are held by the United States Government, banks, and investors around the world. The program, called the Responsible Homeowner Reward ("RH Reward"), is a turnkey, private label program that creates incentives for borrowers to remain current on their mortgage payments without changing the terms of the original mortgage note or reducing principal. The program, developed with a foundation in behavioral economics, employs patent-pending technology developed by LVG.
Loan Value Group,Marketing Department,Rumson Nj 02/08/2010
• iEmergent announces Q1 update to 2010-2014 mortgage volume forecasts
iEmergent, a Des Moines, Iowa-based market research, forecasting and advisory services firm for the financial services, mortgage and real estate industries, issued a first-quarter update to its formal 2010-2014 Mortgage Volume Forecast that was originally released in November, 2009. This update provides lending details regarding expected loan volumes and market behavior at the national, state, county and local community levels.
NationalMortgageProfessional.com,NMP Media Services, 02/08/2010
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