What We're Hearing Daily

By Paul Muolo

If Congress and the Bush White House cannot work out a compromise on the FHA reform bill which includes efforts to help 500,000 struggling home owners (by refinancing them into a government-insured loan) then the ball will be in the Treasury Department's court. For months we've been hearing rumors about a still-under-wraps plan where Treasury would oversee a Resolution Trust Corporation-like agency that would purchase and work out delinquent loans. The RTC was the S&L bailout agency that liquidated $300 billion in assets for the government. When the S&L crisis ebbed the RTC was merged into the Federal Deposit Insurance Corporation...

See Paul's weekly column here.

Conference Calendar

July 16 - 17
Commercial Loan Origination 301
CampusMBA Event
Embassy Suites Downtown
San Diego, CA
Tel: (800) 793-6222
More info

September 23 - 25
16th Annual NJ Association of Mortgage Brokers Conference
The Borgata
Atlantic City, NJ
More info

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Featured Buyer's Guide Category:

Property Preservation

Click here to see listings in the Property Preservation category.

For online listing info for the Buyer's Guide, Call Steve at 866-752-7966 or send an email to steven.gallego@sourcemedia.com

Featured Event

3rd Annual Mortgage Fraud Conference

SourceMedia's 3rd Annual Mortgage Fraud Conference is held at The Rio Suite Hotel in Las Vegas on Nov. 13-14, 2008. This industry-leading National Mortgage News event will provide you with the techniques and strategies to detect, prevent and manage mortgage fraud; monitor your portfolio and identify potential loss exposure as early as possible.

Please visit the conference website for more information.

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Mortgage Technology Newsletter

Real Estate Market Focus

Sales Drop in the Hamptons

By Brad Finkelstein

NEW YORK - The Hamptons, a series of communities on the south fork of the east end of Long Island is, is known as a playground for the wealthy, as well as a summer destination for upwardly-mobile young people.

According to the Prudential Douglas Elliman Hamptons and North Fork Market Overview for the first quarter of 2008, while prices are rising at the top end of the market, sales have declined.

Median sales price in the Hamptons was $882,500, up 0.7% from $876,250 in the first quarter 2007. But the listing inventory increased by 27% to 1,450 units.

Read on...

Featured Grapevine Thread

A Grapevine poster asks for suggestions on how to handle a client with a balloon mortgage.
Read more.

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Market Conditions

Find out from local real estate professionals what the housing market conditions are in these metropolitan areas around the country.

Survey Results

Last week's question was "Do you expect your company to spend more than $5,000 on technology in the next 90 days?" Although the positive responses for this question have been running low for the last 52 weeks, this time they nearly bottomed out. Only 2% of you responded that yes, you planned to invest more than five thousand dollars in technology in the next quarter. This is down from 14% when we last asked and in fact is an all time low. Stay tuned to see if things turn around or if technology spending remains a no no when we ask again in ninety days.

This week's question is "Do you expect your company to buy leads in the next 90 days?" As always, we'd love to hear what you think. Be sure to give us your input by clicking on the survey form on the left-hand side.

Do you expect your company to spend more than $5,000 on technology in the next 90 days?

Top Lenders

The list below was compiled on the basis of Home Mortgage Disclosure Act (HMDA) data for 2006. If you are interested in more HMDA data, please email Deartra.Todd@SourceMedia.com or call Deartra at (202) 434-0322.

Top Lenders in the Amarillo, TX Area
Rank Company Location Local Lending Volume
1 Countrywide Home Loans Calabasas, CA 166,120,000
2 Amarillo National Bank Amarillo, TX 158,654,000
3 Wells Fargo Bank, N.A. San Francisco, CA 45,306,000
4 CitiMortgage, Inc O'Fallon, MO 41,312,000
5 Happy State Bank Amarillo, TX 29,887,000
6 Bank of America, N.A. Charlotte, NC 27,551,000
7 Washington Mutual Inc. Seattle, WA 23,791,000
8 Firstbank Southwest Amarillo, TX 22,869,000
9 Wells Fargo Funding, Inc Minneapolis, MN 21,925,000
10 Countrywide Home Loans Calabasas, CA 21,801,000