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Mortgage News Archive

May 2004

Archived Home Loan Mortgage News - June , 2004

Freddie Mac 2003 Profit Falls 52 Percent.

U.S. mortgage rates down Wednesday.

After indictments of executives, Commerce Bancorp stock falls.

* bump * Mortgage Reforms Far From Dead.

Fitch Rates Thornburg Mortgage Capital Resources Secured Liquidity Notes 'F1+'.

Fitch Rates FHASI $247.5MM Mortgage P-T Certificates Series 2004-AR4.

UPDATE 1-US H1 mortgage bond issuance at $359.7 bln-Thomson.

U.S. MBA's Mortgage Applications Index Fell 4.4% Last Week.

Sequoia Mortgage Trust 2004-6 $920.8MM Rated By Fitch.

HIGHER RATES WILL SLAM BANKS AND BORROWERS.

MortgageFlex Named Top 100 Mortgage Technology.

First American Enters Into Definitive Agreement to Acquire Basis100 Inc. - Acquisition Will Make First American Real Estate Solutions the Number One Supplier of Automated Valuation Models.

Washington Mutual (WM) slides as mortgage business dries up.

Washington Mutual leads banks lower.

Consumer Confidence Up.

Citigroup has emerged as the frontrunner to buy New York Community Bancorp in a deal valued at close to $6 billion - Analysts say the bank is being pressured by higher interest rates that will diminish the returns from a $13 billion investment portfolio made up of mostly mortgage-backed securities.

Fed rate hike will cut both says in economy.

Fitch Rates $516.4MM RFMSI Mortgage Certificates Series 2004-S6.

Dana Capital Group Sets Highest Monthly Record Ever with Over $240 Million Loan Volume in May.

Freddie Mac to Issue 2003 Financial Results on June 30, 2004.

FOP Teams with Nationwide Advantage Mortgage.

American Home Mortgage Investment Corp. Prices an Offering of 1.4 Million Shares of 9.75% Series A Cumulative Redeemable Preferred Stock.

Countrywide Comments on Rising Interest Rate Environment

.E-LOAN Names Industry Heavyweight to Board of Directors.

Interest Rate Hike Expected Wednesday Rate Hike First In Four Years.

Mortgage bank shares seen falling after Wamu jolt.

Guardian Mortgage Documents Offers Automated Compliance Reviews Prior to Drawing Docs Through Mavent's Expert System.

Fannie Mae Redemption.

*bump* F amilies, Deep in Debt, Facing Pain of Growing Interest Rates.

United Financial Mortgage Corp. Implements OpenClose Web-Based Mortgage Platform.

Bubble Worries Deflated But Not Gone.

Inflation, rate outlook sink bond funds High-yield, some mortgage funds least scathed in quarter.

AmNet Mortgage, Inc. Repurchases 500,000 Shares of Its Stock at $8.80 Per Share.

Big interest in home loans.

Banc of America $443.1 MM Alternative Loan Trust 2004-5 Rated By Fitch.

Ellington's Vranos Says He Won't Crash Again Amid Rate Increase.

Countrywide Celebrates 20 Years as America's Wholesale Lender -Division's Climb to Industry Leadership Based on Service to Mortgage Originators.

Wells Fargo sued in Calif. over mortgage loans.

Mortgage brokers, state seek compromise.

Lender debuts S.W. Fla. branches.

WaMu cuts this year's profit forecast.

Delta Financial Announces Hiring of Two New Officers.

Fannie Mae Recognizes Company for Its Efforts to Create Affordable Homeownership Opportunities .During 2002 and 2003, Wachovia originated more than $56 billion in mortgage loans, with $12 billion in loans directly benefiting lower-income families and neighborhoods.

InterFirst and CFI Group Gauge Mortgage Broker Satisfaction.

Homeowners take equity lines of credit.

Stewart Title Opens New Office in Spokane, Wash.

Interest Rates Widely Believed to Go Up Wednesday by One-Quarter of a Point.

Fed hike likely to fuel bankruptcies.

Framework, Inc. Forms Mortgage Fulfillment Best Practice Group; Framework Creates Best-Practices Configuration of LendWare.

GMAC-RFC Selects First American Real Estate Solutions to Develop Automated Valuation Model (AVM) Platform.

Investors watch First Federal stock for signs of turnaraound.

Luminent Mortgage Capital, Inc. Announces 2nd Quarter Dividend.

Delta Financial Corporation Announces $520 Million Asset-Backed Securitization.

Rising mortgage rates are putting the kibosh on the home loan refinancing business and lenders have begun trimming staff in response.

House sales up with interest-only deals.

Boca man charged with fraud in home sales scheme.

ILLINOIS MORTGAGE LENDING REGULATION ANNOUNCED.

Mortgage brokers, Nevada State seek compromise.

California Department of Corporations Collects $800,000 as Part of Settlement Agreement with Long Beach Mortgage Company.

MortgageIT postpones IPO.

Volusia targeted in mortgage fraud scheme.

Existing Home Sales Up 2.6 Percent in May.

Overnight mortgage rates slide.

Fannie Mae Redemption.

Countrywide to Hold Special Meeting of Stockholders to Increase Authorized Shares.

Fitch Rates Centex Home Equity Loan Trust $1B Certificates Series 2004-C.

New York Mortgage Trust stock falls on debut.

New York Mortgage Trust, Inc. Prices $135 Million Initial Public Offering of Common Stock.

Ex-IU receiver pleads guilty in mortgage-fraud scheme.

Lower mortgage rates still higher than last year by more than 1 point.

United Financial Mortgage Corp. Reports Record Revenues and Earnings for Fiscal 2004.

Provident exploring sale of subprime mortgage business.

MortgageIT Holdings, Inc. Announces Decision to Postpone IPO.

Luminent Mortgage Capital, Inc. Set to Join Russell 3000(R) Index.

Fitch Rates $648.2MM First Franklin Mortgage Loan Trust 2004-FF4 'AAA'.

Mortgage Rates Dip Ahead of Fed Meeting.

Mortgage Closing Lawyer Gets 50 Year Sentence for Ripping Off Clients.

Freddie Mac says investment portfolio grew in May.

Consumer Direct of America Signs Definitive Letter of Intent to Acquire Ocean West Holding Corp., a $1 Billion Mortgage Bank.

New-Home Sales Surge to Record High.

Great Financial Mortgage President Talks Rapid Re-Score.

New Century Maintains $0.20 Quarterly Dividend.

IMPAC Mortgage "buy," target price reduced.

Mortgage interest grows. success story.

FEDERAL RESERVE BANK STUDY: NO EVIDENCE OF HOUSING BUBBLE.

California AG settles nation's first do-not-call list suit.

Fannie Mae Foundation Research Reveals an Alarming Number of Black and Latino Homeowners in U.S. Cities Are Experiencing Affordability Problems.

Aames Financial Corporation Declared Cash Dividend on Series B, Series C and Series D Convertible Preferred Stock.

Ex-IU player charged with mortgage fraud.

U.S. mortgage rates unchanged Wednesday.

Fed seen hiking rates.

Real estate fraud haunts convicted felon Former mortgage broker talks about loan scams.

15 Financial Institutions Purchase Lending Software from Open Solutions Inc.'s Lending Business Unit, Sound Software.

Argent to be Title Sponsor of Toyota Atlantic Race at Grand Prix of Denver.

Fed to move slowly on inflation, say bank economists.

Online publishing veteran chosen as Bankrate's CEO.

Freddie Mac Announces Results of Multiple USD Reference Notes(R) Repurchase Operation.

U.S. mortgage applications rise, rates drift lower.

U.S. MBA's Mortgage Applications Index Increased 0.1%.

First Franklin Sets Company Production Record With $2.79 Billion.

Mortgage scam lands Upland man in prison.

Treasuries Aided by Good Auction Hopes.

Capstead Mortgage files $25 mln stock shelf.

LoanCity Strengthens Mid-Atlantic Mortgage Services.

U.S. mortgage rates unchanged Tuesday.

Impac Mortgage Holdings, Inc. Announces a 15% Increase in Its Second Quarter Dividend Payment to $0.75 Per Common Share.

Annaly Mortgage Management, Inc. Announces 2nd Quarter 2004 Dividend.

Mortgage rates steady.

Fannie Mae Redemption.

GMAC-RFC Offers New Appraisal Alternative; Reduces Costs and Streamlines the Underwriting Process for Lenders and Homeowners.

First American Acquires Burrow Closing Management Corporation's REO Segment.

Integrated Mortgage Announces the Opening of Its Sonoma County Office.

Fitch Rates C-BASS' $127.1MM Mortgage Loan A-B Certificates 2004-RP1.

Anworth Mortgage Asset "hold," target price reduced.

The new housing reality - With interest rates expect

Fed to rise and fewer homes to buy, real estate poses new challenges for investors.

Federal officials prosecuting the case insist that Abreu and some of his co-defendants allegedly falsified financial information for clients.

The pros and cons of title insurance.

The PMI Group, Inc. Appoints Russell D. Rasmussen, Vice President, Corporate Capital Planning and Analysis.

Financial Institution Deploys MindBox's ARTOptimize Technology for Automated Loan Cross-Selling.

United Financial Mortgage Corp. Schedules 2004 Fiscal Year-End Earnings Press Release and Conference Call.

Fitch Upgrades 6, Affirms 14, & Places 4 on Rating Watch From Salomon Brothers VII.

Mortgage law makes ads a tough sell.

Residential Mortgage Professional / Customer Service Rep.

7 ways to spot a sleazy mortgage lender.

Financial Partners of Illinois and Mortgage Services, Inc. Opens First Iowa Branch.

Mortgage business operator charged with theft.

Lenders may be getting desperate.

Recent Gradual Rise In Mortgage Rates Stalls Refinancing, Slowing The Demand For.

Banks face class actions in mortgage ruckus.

Mortgage Rates Still Steady.

After False Alarm on Inflation, Mortgage Rates Ease.

Mortgage Price Wars Heat Up.

US house price inflation begins to slow.

Fog Cutter Capital Group Inc. Reports Sale of Mortgage-Backed Securities and New Loan Fundings.

Center for Responsible Lending Warns 'Avoid Predatory Mortgage Lenders'.

TowerGroup Anticipates 30% to 50% Drop in Loan Originations and Slowing of Mortgage IT Spending on Heels of 'REFI' Boom.

Mortgage Sites That Anticipate Customer Questions Score Highest in New Change Sciences Research.

Dana Capital Group Sets New Sales Record With Year-to-Date Volume of $1 Billion in 2004.

Avalar Real Estate & Mortgage Network to hold Job Fair.

U.S. MBA's Mortgage Applications Index Rose 5.6% Last Week.

Refinancing hits three-month high Even as rates rise, mortgage applications move higher, snapping five consecutive weeks of decline.

E-LOAN Ranked One of America's Most Trusted Companies for Privacy.

Progress OpenEdge Platform Gets Rapid Approval from Quicken Loans.

E*TRADE FINANCIAL Corporation Reports Monthly Activity for May 2004.

U.S. housing starts flat in May Building permits point to buoyant single-family sector.

Fannie Mae Prices New Issue 2-Year Benchmark Notes(R).

Michigan-Based EGF Acquired by First Horizon Home Loans.

American Business Financial Services, Inc. Opens Texas Broker Operation.

A Saugus, Massachusetts couple is accused of stealing a woman's identity, then using it to get a mortgage on a $318,000 home.

Epic Financial Corp. to Launch VideoFone VoIP Service, Files Trademark Application.

Mortgage Select & Terra.com Launch Co-Branded Spanish-Language Online Mortgage Center.

First American Completes Acquisition of SNK Holdings/LOGS.

Low mortgage rates lift sales of new Lennar homes.

U.S. mortgage rates fall on Tuesday.

Mortgage company moves to area.

Fulton Financial Approves Stock Repurchase Plan.

Higher mortgage rates sap homebuilder sentiment.

ComplianceEase Offers First Anti-Predatory Lending Compliance System to Automate New Investment Rating Agency Guidelines.

Fitch Upgrades 4 Classes of Artesia Mortgage CMBS, Series 1998-C1.

Oak Street Hires William DiAntonio as Director, Retail Sales, Boston Area.

Dramatic drop in late mortgage payments.

Slowing Refinancing a Plus for Fannie Mae.

myFICO.com Sets New Standard in Identity Theft Protection for Consumers.

UPDATE 1-Fannie Mae sees June investment portfolio growth.

UPDATE 1-Fannie Mae duration unchanged, portfolio shrinks.

HomeBanc completes strategic expansions.

DeepGreen Financial Names Nicholas G. Hahn Chief Financial Officer.

U.S. mortgage rates rise on Monday.

Fulton Financial Corporation to Acquire First Washington FinancialCorp.

Wintrust Financial Corporation Will Be Presenting at Piper Jaffray Retail Banking Symposium on June 17, 2004.

GM Affirms Outlook But Cautions on Rates.

Penn 1st Financial Services, Inc. Changes Its Name to National Penn Mortgage Company; Names Jorge A. Leon President.

United Bankshares Inc. Announces New Sale, Plans.

US mortgage delinquencies dip, new foreclosures up.

Bank of America Sponsors 10th Anniversary Essence Music Festival.

Allied Home taps Columbia for new branch.

Venture West Funding Arranges $35.4 Million Package of Apartment Loans in the Westside of Los Angeles.

Countrywide, America's Wholesale Lender, Selects Sysdome Technology to Streamline Broker Approval Process; Nationwide Lending Powerhouse Implements Sysdome's Third Party Review Program.

Attorney suspended after pleading guilty in home lending scam.

Appraisal Organizations Say Current Laws Need to Be Enforced and Modified to Shore Up Appraisal Licensing System.

Treasurys grind lower ahead of CPI data Tuesday's report may illustrate stepped-up inflation.

Wintrust Financial Corporation Announces Plans to Acquire Town Bankshares, Ltd.

Commercial Capital Bancorp, Inc. Successfully Restructures Securities and Federal Home Loan Bank Borrowings Portfolios Acquired in Hawthorne Financial Acquisition.

Advanced Systems Group Helps Mortgage Company Scale IT.

Mortgage Professionals View Latest Technologies Minutes From Taste of Chicago.

Coyote Point Helps Allied Home Mortgage Capital Maintain Balance in Their Microsoft Terminal Services Network.

Realtime24 Makes Fiserv's MortgageServ System Accessible Around the Clock for Loan Servicing.

ICNB Financial Corp. Raises Q2 Dividend.

Growing Interest: Home buyers pursue interest-only loans to stretch finances.

Mortgage rates edge higher; refinancing slows.

Is the Stock Market Too Focused on Rates?

Publicly run reverse mortgage program proposed.

The Attraction of `Interest-Only' Loans.

Chicago homeowners say they were charged excessive fees.

Home lenders are scrambling End of the refinancing surge means competition for borrowers.

Mortgage firm opens new headquarters.

GMAC Commercial Mortgage Corporation Provides $100 Million in Refinancing for New Jersey Office Building.

CMD signs Premier Mortgage to larger lease.

Consumer confidence up as economy, jobs market show gains.

Mortgage rates trend higher.

Mortgage rates move higher.

Markets closed today.

Fannie Mae Redemption.

Merger could boost local mortgage firm Parent of Richmond's Charter One Mortgage is being bought out.

Homeowners vs. Big Mortgage Corp.

New Century Financial Corporation Receives Ethics Award.

Capstead Mortgage Corporation Declares Second Quarter 2004 Common Dividend.

Fed May Double Rate Target This Year, Bond Firms Say.

Straight Talk from Greenspan.

Outlook on Mortgage Lending Sector A look at IndyMac Bankcorp, Countrywide Financial Corp., Wells Fargo & Co. and E-LOAN.

One Small Step for Fixed Mortgage Rates, One Giant Leap for Adjustable Rates.

Ex-Banker Alleges Widespread Overcharging on Mortgage Accounts by Banks.

Fitch Rates Whately CDO I, Ltd. 'AAA/AA/A/BBB'.

Fannie Mae Prices Reopening of Callable Benchmark Notes(R).

H&R Block Profit Rises 16% in Fourth Quarter on Mortgages, Fees.

Mortgage company will fight allegations - First Mortgage America, accused of using misleading radio ads and shoddy business practices, wants its day in court.

American Mortgage Acceptance Company Announces Second Quarter Dividend for 2004.

Assessor pleads not guilty.

Texas Regional buys Valley Mortgage 13M.

South Florida Interactive Marketing Association Holds June Program ''Websites That Drive Customer Acquisition''.

Area man sent to prison for role in mortgage fraud scheme.

U.S. mortgage rates rise Wednesday.

Mortgage applications fall for 5th week.

George Mason Mortgage bought for $17M.

Collapse of Metropolitan Mortgage & Securities blamed on CEO.

U.S. weekly mortgage applications down 8.9%.

Jury selected in $10 million mortgage-fraud trial.

AmNet Mortgage, Inc. Completes Sale of REIT Mortgage Portfolio Assets.

BoAMSI $1.52B Series 2004-E Rated By Fitch Ratings.

U.S. 30-year mortgage rate may hit 6.7 pct-Freddie.

E-Loan hits $20 billion mark.

Stewart Mortgage Information Forms Stewart Default Solutions Inc.

Aether to Begin Building Leveraged Portfolio of Mortgage-Backed Securities.

Palisades Technology Partners Named Top 100 Mortgage Technology Vendor.

Countrywide May mortgage volume falls, shares drop.

Rates Long Beach Mortgage Loan Trust $2B Series 2004-3.

Mortgage rates rise 30-year fixed up at 5.98%; 10-year Treasury down at 4.76%.

Banker named to Freddie Mac board.

Mortgage firm to add 160 jobs.

First Franklin Direct(R) Unveils New Advanced Website, Further Enhancing Mortgage Experience.

OUR TAKE Time's Running Out to Refinance.

Entrust Financial Services, Inc. Reports May Loan Production.

S&P Lowers and Affirms Various CSFB Ser 2002-FL2 Rtgs.

Buyers chasing too few homes.

Minorities seen driving housing growth.

Mortgage XSites Websites Debut, Bringing More Leads, Faster Closings and Less Paper to Brokers.

New Century Mortgage Combines Concerto Software's EnsemblePro with Centergistic Solutions' AgentView Enterprise for Maximized Performance in its California Contact Center.

Saxon Capital, Inc. Announces Organizational Change.

Innovative Mortgage Consultants Reverse the Motivated Seller Concept To Remove FSBO Headaches and Guarantee Top Dollar.

Mortgage rates saved from hike, Despite healthy May job growth, federal funds rate expected to rise 'gradually'.

Mortgage applicant is charged with fraud.

Community Bank of Northern Virginia Announces Formation of New Mortgage Lending Division, Community Bank Home Mortgage.

The Hyperion Strategic Mortgage Income Fund, Inc. Dividend Declaration.

Genworth Financial Introduces Underwrite Express.

American Home Mortgage Investment Corp. Board Declares Quarterly Dividend of $0.61 per Share.

Freddie Mac Declares Quarterly Dividends.

Columbus firm opens local office Agency will cater to credit unions.

Tennessee - THDA, Guaranty Trust in new mortgage program.

Mortgage Rates Are Lower.

BofA to cut 500 mortgage employees.

Attorney pleads guilty in home lending scam.

Impac Mortgage Holdings "strong buy," estimates raised.

Prudential Mortgage Capital Originates $6,150,000 Loan for Deerwood Lake Commons.

GMAC mortgage unit plans to offer $475 mln notes.

Technology enables real estate fraud.

Mortgage Rates Trickle Lower.

An Oceanside attorney has been arrested and charged with stealing nearly $700,000 from a mortgage banker.

BECU credit union to cut 8 percent of work force.

American Home Mortgage Investment Corp. Announces Private Label Agreement With Signature Bank.

Countrywide Extends Its Automated Underwriting System.

ServiceLink LP Forms AssetLink LP as Independent REO Subsidiary.

U.S. mortgage-backed spreads slightly narrower.

Barclays enters US mortgage bond market.

LION, Inc. and Qvault, Inc. Strike Alliance to Combine Mortgage Web Site and Loan Status.

Mortgage Market Slows Again.

U.S. mortgage applications fall 1.2%.

Countrywide Dominates Adjustable Rate Mortgage Market.

Financial Launches ikeptmyhouse.com; Website to Serve as Comprehensive Resource for Seniors Looking into Increasingly Popular Reverse Mortgage Loan.

HSBC hires 2 heads for U.S. mortgage-backed unit.

CTX Mortgage Company Announces The Addition Of Sue Woodard To Training and Consultancy Position.

East-West Mortgage to amend policies.

AmeriDream Launches DreamKeeper Mortgage Payment Relief Program.

Judge freezes assets of local mortgage broker.

Internet shifts focus from paperwork to people.

Standard Federal Simplifies Home Buying With Guaranteed OneFee(SM) Mortgage.

House price inflation slows down sharply in US.

U.S. mortgage rates unchanged Tuesday.

Bank of America laying off mortgage office workers.

New Issue-Long Beach Mortgage offers $2 bln notes.

Commercial Mortgage Banker Pacific Security Capital is Profiled by Real Estate Forum Magazine as One of the Nation’s Leading Commercial Real Estate Lenders.

Assessor: Reverse mortgage information available to public.

Republic Bank Opens New Office in Indianapolis, Indiana.

Mortgage Benefits Corp. Introduces No-Cost Group Mortgage Benefit for Employees; The MortgageChoice Plan Offers Discounted Rates and Fees, Superior Products, and Personalized Service.

Fitch Rates Banc of America Mortgage Securities $790.1MM Series
2004-5.

American Home Mortgage Investment Corp. Begins Trading Under the Ticker Symbol 'AHM' on the New York Stock Exchange.

Feds figure to raise rates.

U.S. mortgage backed bond prices off in early trade.

UPDATE 2-U.S. home price growth slows in first quarter.

Fitch Rates $4.2B Countrywide Asset-Backed Certs, Series 2004-5.