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Mortgage Brokers

Welcome to the special Real Estate Industry Bulletin for Mortgage Brokers.

Schedule for Week of January 2, 2011

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Schedule for Week of January 2, 2011

Happy New Year! The key report for this week will be the December employment report to be released on Friday, Jan 7th. Other key reports include the ISM manufacturing index on Monday, vehicle sales on Tuesday, and the ISM non-manufacturing (service) index on Wednesday. —– Monday, Jan 3rd —– 10:00 AM: ISM Manufacturing Index...
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Weekly Initial Unemployment Claims below 400,000, Lowest since July 2008

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Weekly Initial Unemployment Claims below 400,000, Lowest since July 2008

The DOL reports on weekly unemployment insurance claims: In the week ending Dec. 25, the advance figure for seasonally adjusted initial claims was 388,000, a decrease of 34,000 from the previous week’s revised figure of 422,000. The 4-week moving average was 414,000, a decrease of 12,500 from the previous week’s revised average of 426,500....
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Credit union group considers interim rule eliminating HVCC a “serious burden”

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Credit union group considers interim rule eliminating HVCC a “serious burden”

The National Association of Federal Credit Unions said Monday that it opposes an interim rule issued by the Federal Reserve Board in October that eliminates the Home Valuation Code of Conduct and encourages independent appraisals. The trade association said that although it supports the intent of the rule — to prevent inappropriate or fraudulent...
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Schedule for Week of December 26th

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Schedule for Week of December 26th

This will be a light week for economic news. The Case-Shiller house price index will be released on Tuesday, and several regional manufacturing surveys will be released during the week. —– Monday, Dec 27th —– 10:30 AM: Dallas Fed Manufacturing Survey for December. The Texas survey showed expansion last month (at 13.1), and is...
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Calyx Software acquires Loan-Score Decisioning Systems

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Calyx Software acquires Loan-Score Decisioning Systems

Calyx Software, a mortgage software firm in San Jose, Calif., has acquired  Loan-Score Decisioning Systems. "This is a historic move for Calyx Software; a very significant and strategic move to better serve our customers and further our presence in the lending industry,” said Doug Chang, president of Calyx Software. With the acquisition, Calyx and...
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Misc: Ernst & Young accused of fraud, Banks accused of illegal break-ins

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Misc: Ernst & Young accused of fraud, Banks accused of illegal break-ins

Two stories: Lehman’s accounting was fishy. The other is a real fish story … • From the NY Times DealBook: Cuomo Sues Ernst & Young Over Lehman The New York attorney general on Tuesday sued Ernst & Young, accusing the accounting firm of helping Lehman Brothers, its client, “engage in a massive accounting fraud”...
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Getting the Money: How to Finance Your Deals with Private Money

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Getting the Money:  How to Finance Your Deals with Private Money

by Julie Broad Quick – you need to get $10,000. What do you do? Many folks will either turn to their parents to borrow the money or they will head to their local bank for a loan. Eventually the bank of Mom and Dad grows tired of financing their child’s exploits (or runs dry!)...
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Posted in Mortgage Brokers, Private Money | Hard Money | 1 Comment »

SEC expands investigation into MBS: Report

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SEC expands investigation into MBS: Report

The Securities and Exchange Commission expanded the federal government's investigation into mortgage lenders, seeking more information into the securitization of the loans, according to published reports. Reuters reported Friday the regulator sent another round of subpoenas to some of the nation's largest banks requesting information about how home loans are bundled and sold in...
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Bank Failures #156 & 157: Arkansas and Minnesota

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Bank Failures #156 & 157: Arkansas and Minnesota

Shadowy Reaper A grim Black Friday for some Nearing your banks door? by Soylent Green is People From the FDIC: Southern Bank, Poplar Bluff, Missouri, Assumes All of the Deposits of First Southern Bank, Batesville, Arkansas As of September 30, 2010, First Southern Bank had approximately 1.8 million in total assets and 5.8 million...
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FDIC names Wigand director of new complex financial institutions office

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FDIC names Wigand director of new complex financial institutions office

The Federal Deposit Insurance Corp. named Jim Wigand director of the new office of complex financial institutions. The new office was establish by the Dodd-Frank Act and will review non-bank financial companies deemed "systemically important" and bank holding companies with assets of more than 0 billion. The CFI also will implement the FDIC's new...
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