Items Tagged with 'John Courson'

ARTICLES

  • The nation's disconnect on loan officer compensation

    For all the talk about putting people in homes, protecting borrowers from foreclosure and complying with government mandates, the home finance business is still primarily engaged — like any other business — in making money. Judging from the conversations I've had this year with mortgage professionals, I am sure that industry folk understand this. I'm not so sure about regulators.
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  • A Dark Day for the Mortgage Industry

    If the Mortgage Bankers Association was hoping to show that it’s in touch with the needs of the mortgage servicing industry – and taxpayers, too – a proposal unveiled at last week’s servicing conference in San Diego may quickly have shot that notion to the ground. MBA president and CEO John Courson used the show’s opening remarks to announce that the trade organization was backing what it called a “Bridge to HAMP” proposal for unemployed borrowers.
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  • MBA: Change Risk Weighting for Warehouse Credit

    Faced with a growing dearth of funding for non-depository mortgage lenders, the Mortgage Bankers Association earlier this week sent a letter to key regulators asking for changes in risk-based capital weightings tied to various warehouse lines of credit. Calling the decrease in warehouse credit availability for lenders a "signficant, yet avoidable, bottleneck", MBA president John Courson suggested that regulators look at easing capital requirements tied to warehouse lines of credit.
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  • Mortgage Fraud at All-Time High: Report

    Reported incidents of mortgage fraud in the U.S. are at an all-time high, increasing 26 percent from 2007 to 2008, according to a new report released Monday by the Mortgage Asset Research Institute (MARI). For the first time, Rhode Island lead the way, ranking first in the country for mortgage fraud with more than three times the expected amount in relation to its origination volume. Florida, which ranked first in 2007 and 2006, dropped to second place, followed by Illinois, Georgia, Maryland, New York, Michigan, California, Missouri and Colorado.
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  • MBA Names New Chief Economist

    After former chief economist Doug Duncan jumped to Fannie Mae in March, the Mortgage Bankers Association said late Tuesday that it has tapped Jay Brinkmann as Duncan's replacement.
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  • MBA Chief Kempner to Step Down

    The Mortgage Bankers Association said late Tuesday that current president and CEO Jonathan Kempner had resigned; news of his departure comes as the industry lobbying group is having to ramp up its efforts on Capitol Hill, as well as defend itself from critics that claim its membership helped fuel the credit crisis now gripping the world's financial markets.
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  • CPM, Ivanhoe Saga Shows Depth of Current Industry Problems

    Problems at Folsom, Calif.- based Central Pacific Mortgage have led to the abrupt shutdown of the mortgage lender amid a growing maelstrom of employee criticism and media confusion over the company's partial sale to TMSF Holdings, Inc., as originally reported by Housing Wire on February 14. TMSF is best-known for its "The Mortgage Store" retail lending chain. The TMSF purchase involved only the wholesale operations at Central Pacific, say sources close to the transaction, which included six wholesale branch offices with total staff of about 80 operations and sales personnel. The company's remaining operations, including its Ivanhoe Mortgage division, which employed nearly 260 nationwide, were not part of the purchase transaction. CPM had acquired Orlando-based Ivanhoe, primarily a retail originator, in March 2006; the division produced more than $2 billion in mortgage volume annually, according to company records.
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