Company founder and former CEO David Biggers will retain the title of chairman and sole shareholder and will focus his efforts on new product, market and strategic project development.

a la mode also announced the promotion of Sean Shiplet to the newly created role of COO. Shiplet previously served as the company’s executive vice president of sales and customer support. In his new position, he will oversee sales, customer support, business development, marketing and product management functions.

The Senate approved the nomination of Thomas Dorr as under secretary of Agriculture for Rural Development. Dorr is a four-year veteran of USDA.

HanoverTrade Inc., Edison, N.J., a wholly owned subsidiary of Hanover Capital Mortgage Holdings Inc., announced the promotion of Anne Akers to senior vice president and sales manager of HanoverTrade’s Loan Sales Advisory Group.
 
Akers’ experience includes 10 years with Pamex Capital Partners LLC (formerly Principal Asset Markets Inc.) prior to its merger with HanoverTrade in January 2001. Most recently, she worked as vice president and senior transaction manager for HanoverTrade. 

Sperry Van Ness, Irvine, Calif., announced several appointments. Gary Imbrie has been named senior advisor at the company’s office in Beaverton, Ore. Additionally, Ryan Imbrie has joined the office as an associate advisor.

Gary Imbrie has nine years of commercial real estate experience, specializing in the sale of multi-tenant and single tenant retail properties. Prior to joining Sperry Van Ness, Imbrie served as senior investment associate and principal broker for Marcus & Millichap’s Portland, Ore., office. Previously, he was president of Norita Inc., a Japanese subsidiary of Norita Kogaku NKK.

Sperry Van News also named David Baird as national director of multi-family. Baird will also continue to serve as senior vice president for Sperry Van Ness in Las Vegas.

Baird has more than 27 years of commercial real estate experience, specializing in the sale of multi-family properties with more than 100 units. Prior to joining Sperry Van Ness, Baird served as owner and operator of American Investors Bancor, a commercial investment real estate acquisition and disposition firm. Previously, he served as an agent with Great American Investors.

Sperry Van Ness also named Rory Ferlauto as vice president, Don Hudson as senior vice president and Nancy Uy as senior advisor in the company’s new Woodland Hills, Calif., office.

Ferlauto is a former vice president and sales director of Team Lustig-Bower at CB Richard Ellis. Previously, she served as manager of information research for the Los Angeles region at CB Richard Ellis. 

Hudson most recently served as managing director overseeing the CB Richard Ellis San Fernando Valley office and has more than 25 years of sales experience.

Prior to joining Sperry Van Ness, Uy served as senior multi-housing specialist at CB Richard Ellis working directly with Ferlauto in focusing on the sale of multifamily investment properties in the greater San Fernando Valley and throughout Los Angeles. Previously, she was involved with the production of CB University for sales training.

Real Trust Financial Corp., Kissimmee, Fla., announced that Cas Camara, previously CEO, has assumed the role of president of National Wholesale Lending and Graham Aistrop, previously executive director of marketing and retail sales, has assumed the role of CEO. This shift of roles is a result of Real Trust Financial Corp becoming a self-contained wholesale lender, company officials said.
 
CWCapital, Needham, Mass., announced the appointment of Joe Hirsch as vice president/senior loan officer. Hirsch will be based out of CWCapital’s Los Angeles office.

Hirsch, a 30-year veteran at HUD, will be responsible for the origination of affordable housing and seniors housing loans on the West Coast through CWCapital’s HUD lending platform. Prior to joining CWCapital, Hirsch was a partner at Preservation Partners Development, a California-based development group specializing in the acquisition, rehabilitation and preservation of HUD and California Housing Finance Agency insured and assisted multifamily affordable housing developments.

Oak Street Mortgage LLC, Indianapolis, announced that Bob Jakubowicz will assume the role of executive director of retail sale.

Jakubowicz worked previously with Bank One, Household International and First National Bank of Chicago. Most recently he held the position of senior director of retail sales with Oak Street.
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ACB said in a comment letter on the FTC's proposed consent order involving a data loss by BJ's Wholesale Club in 2004, that the agency "should not hesitate from imposing significant monetary penalties on companies that fail to protect consumer information."

In the BJ's case, community banks had no responsibility for the data breach, but they did have the burden of notifying credit card customers, canceling and reissuing cards and monitoring accounts for fraudulent activity. ACB said the costs were significant, and the breach also resulted in customer frustration and reputation risk.

ACB encouraged the FTC to support federal legislation requiring businesses that are not subject to the Gramm-Leach-Bliley Act to have adequate information security programs. ACB also said the credit card associations need to be more aggressive in enforcing their operating rules, and should increase the level of enforcement actions. While banks are entitled to compensation through the credit card associations' rules, the cost of obtaining relief frequently equals or exceeds the amount recoverable.

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Community Mortgage Group Inc. (CMG), Littleton, Colo., opened its Phoenix branch office. The Phoenix branch will offer a product portfolio that includes 100 percent financing for primary, second home and investment property loans and providing manual underwriting on conventional conforming arms. In addition, CMG will feature an upgrade of their Odyssey product with a new offering called Ideal. The Ideal product will allow up to a 60 percent debt to income ratio; no fico score up to 100 percent loan-to-value (LTV); no seasoning requirement on refinances and a 15 year amortized five-year interest only loan. 

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Chicago-based TransUnion announced the acquisition of four companies owned by southern California-based Diversified Holdings Corp. Terms of the transaction were not disclosed.

The acquisition of Diversified Title Insurance Co., one of the acquired companies, gives TransUnion a presence as a licensed title insurance underwriter in California.

In addition to Diversified Title Insurance Co., other companies from Diversified Holding Corp. acquired by TransUnion are Diversified Title & Escrow Services Co., Diversified Exchange Corp., and Diversified Reverse Exchange Corp.
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"To achieve real estate portfolio allocation targets and desired returns, investors are funneling capital into performing as well as underperforming and speculative properties," explained Standard & Poor's credit analyst Roy Chun. "As a result, loans collateralized by less than stellar properties are being aggressively refinanced, mitigating negative rating actions."
    
S&P recorded its lowest quarterly level of downgrades since the fourth quarter of 2001. "A historically low CMBS delinquency rate supported the decline in downgrades," said S&P credit analyst Larry Kay.

U.S. CMBS delinquency rate at the end of the second quarter dropped below 1 percent to 0.93 percent, a level not experienced since 2000. There were 22 downgrades in the second quarter, down from 43 in the first quarter and a peak of 68 in third quarter 2003. Last year, there were an average of 41 downgrades per quarter.

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S&P also reported that European CMBS will likely produce record levels of annual issuance in 2005, with the U.K. and Italy the leading markets, while once again being among the strongest performing asset classes in the European securitization market, according to two reports
 
European CMBS saw a record issuance of €20 billion in the first half of 2005, according to the first report, "Record European CMBS Issuance Driven By Secured Loan And True Sale Transactions." This six-month volume exceeds total annual issuance in 2003 and 2004, bringing collateral volumes outstanding in the market to over €85 billion equivalent.
 
"The volume of the first half of 2005 reflects the groundwork that CMBS program lenders and servicers have put in over the last three years, building originating and servicing platforms in Europe that can efficiently deliver repeat European CMBS," said credit analyst Ashley Reed, a director in the Structured Finance ratings group in London.
 
"European CMBS has developed into a broad-based sector capable of delivering significant growth in monies available to finance real estate debt transactions and gives an expanded choice both to real estate borrowers and those who wish to invest in CMBS transactions across the ratings spectrum," Reed said.
 
Demand for the product has been supported by strong performance of existing issues to date, as detailed in the second report, "European CMBS Exhibits Strong Ratings Performance With Upgrades Outnumbering Downgrades."
 
"In 2005, we have seen the continuation of the performance levels of recent years, with delinquent and defaulted loans almost non-existent in the securitized market," said credit analyst Stuart Nelson, an associate director in the group. "The trend of rating actions has been almost entirely positive, with upgrades outnumbering downgrades nearly four to one."
 
"Lumpy” but irregular prepayments continue to lead to transaction deleveragings, and with no downgrades of rated corporate tenants in credit-linked transactions so far this year, noteholders have not been exposed to the rating migration risk in structured sale and leaseback transactions, Nelson said.
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In the Fannie Mae’s DUS/MBS product, Arbor refinanced a 342-unit complex known as Three Fountains East Cooperative, Indianapolis, Ind. The 30-year loan amortizes on a 30-year schedule and carries a note rate of 6.15 percent. Michael Jehle , regional director in Arbor’s Midwest Region in Bloomfield Hills, Mich., originated the loan. It was underwritten in Arbor’s Chicago lending office.

Jehle also originated a $7 million loan under its DUS product line to refinance Lancaster Village Cooperative, a 287-unit complex in Pontiac, Mich. The financing replaces a HUD Section 236 loan with an Interest Reduction Payment (IRP). The mortgage carries two notes. The first note amount for $5.8 million has a 15-year term with a 30-year amortization and carries a note rate of 5.96 percent. The second note of $1.2 million has a 74-month fully amortizing term and carries a note rate of 6.02 percent. The loan was underwritten in the Uniondale, N.Y. office.

“Proceeds from the loan will allow for planned renovation of the property,” Jehle said. “Arbor was able to decouple the Section 236 FHA insured mortgage to provide, in part, for the rehab monies.”

HUD announced a change in the Multifamily Accelerated Processing (MAP) program to allow single stage processing for these loans, Arbor noted. “Prior to this program change, new construction and sub rehab loans were processed in two phases and each carried a 45-day review period at HUD,” said Joseph Donovan, vice president of FHA production management at Arbor. “Now both phases can be combined into one stage and HUD’s review time for the complete application is 60 days. This will be very helpful to developers who like the favorable loan terms offered by FHA insured financing but were concerned about the timing of closing.”

Arbor Commercial noted that this change also makes FHA-insured financing more competitive since it puts it closer to the processing times required with other sources of financing. In addition to the streamlined processing, the FHA-insured construction loans are an attractive option to multifamily developers as they offer a 40-year, non-recourse, fixed interest rate and do not require a stabilization period prior to rolling to the permanent loan phase.

Meanwhile, Arbor also funded a $6.6 million loan under its DUS product line to refinance the 16,391 square foot retail property known as Sunset and Henderson Retail, Henderson, Nev. The 10-year fixed rate loan amortizes on a 30-year schedule, and carries a note rate of 5.66 percent. Monty Childs, director, originated the loan. It was underwritten in Arbor’s Canonsburg office.

"The borrower first used Arbor Realty Trust bridge financing to facilitate a 1031 exchange acquisition of the property,” Childs said. “The Arbor Commercial Mortgage permanent debt served as the exit for the bridge.”
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"Education keeps mortgage professionals up to date on the latest developments in the industry and helps us serve our customers better," said Larry Gilmore, AMP, chair of MBA's Diversity Task Force and vice president of government of housing and industry relations for Option One Mortgage Corp. "The Path to Diversity scholarships provide opportunities for these industry professionals to extend their knowledge and enhance their careers, while ensuring that the industry meets the needs of the diverse communities we serve."

The Path to Diversity program continues through a sponsorship provided by the Research Institute for Housing America (RIHA), a trust fund subsidiary of MBA. The following companies have also provided scholarship funds: Irwin Mortgage, Option One Mortgage, SunTrust Mortgage and Wells Fargo Home Mortgage.Companies can participate in the Path to Diversity program by enrolling as a participating company or by sponsoring 10 or more scholarships. Additionally, member firms providing internships to qualified college students are eligible to receive free distance-learning courses for each intern through CampusMBA.

To date, 147 scholarships have been awarded since the program's inception in 2001. 

Visit http://www.mortgagebankers.org/pathtodiversity to download the scholarship application. For more information, contact Joanna Truitt at (202) 557-2835 or jtruitt@mortgagebankers.org.
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Impact of Supreme Court Nomination

Consequently, the early prediction is that this will not lead to gridlock after the August recess on legislative priorities in Congress, including GSE reform and TRIA. That said, if Supreme Court Chief Justice William Rehnquist should announce his retirement in the next few weeks, all bets are off.

Pro-business reports about Judge Roberts appear to be based on the fact that he moved from a role of advocacy on behalf of business clients to the federal appeals court only two years ago. However, the real picture may not be that simple. While at the firm of Hogan & Hartson L.L.P, where he was employed from 1986 to 1989 and again from 1993 to 2003, he developed a civil litigation practice at the appeals court level and had clients that included Chrysler, Toyota, the National Collegiate Athletic Association and the National Mining Association. 

It is also interesting to note that when Roberts left the firm in 1989, he accepted appointment as Principal Deputy Solicitor General of the United States. In that capacity he did work on issues related to financial institutions. He is also a veteran of more than 30 oral arguments before the Supreme Court on a wide range of issues including bankruptcy and the regulation of financial institutions. However, during his previous confirmation hearing, he warned that no conclusions should be drawn about his judicial philosophy based on his clients in private practice. "I do not believe that it is proper to infer a lawyer's personal views from the positions that lawyers may advocate on behalf of a client in litigation," he stated at that hearing. 

GSE Reform—Senate
In the Senate, Banking Committee Chairman Richard Shelby, R-Ala., on Friday released his "Chairman's Mark" and summary . The Mortgage Bankers Association is currently analyzing the legislation, paying particular attention to the way in which Shelby integrated the "bright line" concept in S. 190 with the program approval authority in his bill. It is now likely that the Banking Committee will markup and vote on the GSE legislation on Thursday.

MBA will continue to monitor developments on GSE reform and will report on them as appropriate.
 
For more information, please contact Chris Harrington at (202) 557-2863 (charrington@mortgagebankers.org) or Josh Denney at (202) 557-2816 (jdenney@mortgagebankers.org).

GSE Reform—House
In testimony this week to the House Financial Services Committee, Federal Reserve Chairman Alan Greenspan offered criticism of H.R. 1461, the Federal Housing Finance Reform Act of 2005. Specifically, he indicated that he would prefer no bill to the current draft being considered by the Committee.

Greenspan believes that the bill does not go far enough to restrict the size of GSEs' investment portfolios.  In response to questions from Rep. Ed Royce, R-Calif., he noted "unless we can address those issues, I do not think we've appropriately removed what is a very significant threat to our financial system longer term." However, these concerns have thus far been rejected by the Committee.

Also in the House this week, the chairman of the House Judiciary Committee, Rep. James Sensenbrenner Jr., R-Wis., indicated that his committee would review the sections of the GSE reform legislation that relate to criminal penalties and placing the Freddie Mac or Fannie Mae into receivership. Opponents of GSE regulatory reform have taken to characterizing this development as a setback, but MBA staff believes it is unlikely to present a significant obstacle to passage of the legislation this year.
 
For more information, please contact Chris Harrington at (202) 557-2863 (charrington@mortgagebankers.org) or Josh Denney at (202) 557-2816 (jdenney@mortgagebankers.org).

“Blue Dogs” Urge Hastert to Move on TRIA; CIAT to Testify
The centrist group of Democratic House members known as the Blue Dog Coalition sent a letter to House Speaker Dennis Hastert, R-Ill., urging him to move quickly to pass a multi-year TRIA bill. Thirty-two Coalition members signed on to the letter by Rep. Steve Israel, D-N.Y., who sits on the House Financial Services Committee.

The letter also made clear that while they believe that the marketplace may eventually be able to price and make terrorism insurance available, it is not yet stable enough to do so and Congress must act quickly to extend TRIA.

"TRIA sunsets at the end of the year and is in danger of lapsing. That means insurance companies will simply stop writing policies that cover future attacks, developers will be unable to receive financing for real estate ventures and companies will be unable to insure their property or their employees,” the letter states. “Policies are already being negotiated containing exclusion clauses that clearly state that terrorism will not be covered in the event that Congress fails to act to extend TRIA."

In a separate statement, Israel said "extension of the Terrorism Risk Insurance Act is, in my opinion, the single most pressing issue currently facing this committee." Support from the Blue Dogs was critical in passage of the original TRIA legislation in 2002.

In other news, the Coalition to Insure Against Terrorism (CIAT), of which MBA is a member, has been invited to testify next week before the House Financial Services Committee's Subcommittee on Capital Markets, Insurance and GSEs.  The hearing ("The Future of Terrorism Insurance") is scheduled for Wednesday, July 27th.

CIAT's witness will be James Maurin, who is chairman of Louisiana-based Stirling Properties. He is also the immediate past chair of International Council of Shopping Centers.

MBA continues to push Congress to act as quickly as possible this year.

For more information, please contact Josh Denney at (202) 557-2816 or jdenney@mortgagebankers.org.

HUD Presents Description of 2004 RESPA Rule
As described in last week's Advocacy Update, at the first of its Real Estate Settlement Procedures Act (RESPA) roundtables in Washington D.C., HUD described  key provisions of the rule that it sent to the Office of Management & Budget and later withdrew in early 2004. 

MBA will provide a summary of key provisions of the rule described in the PowerPoint presentation in next week's update (along with information concerning HUD and the Small Business Administration’s roundtables). Notably, the rule would have simplified the Good Faith Estimate tolerances, not moved to dual packaging (although it would have permitted a settlement services package to become part of a mortgage package) and it would have permitted packaging of Home Ownership Equity Protection Act loans after a phase-in period. These and other points had been advocated by MBA and were addressed in the rule. The revised GFE is available at: http://www.hud.gov/respareform/draft-gfe.pdf, and the MPO is available at: http://www.hud.gov/respareform/draft-mpo.pdf.
 
For more information, please contact Ken Markison at (202) 557-2930 or kmarkison@mortgagebankers.org.

MBA Meets with FHA's New Deputy for Single Family Housing
On Monday, July 18, MBA staff met with Lily Lee, who has been selected as the new deputy assistant secretary for single family housing at FHA. Lee oversees all credit policy, lender oversight and servicing functions for FHA's single family housing programs. 

Prior to this, Lee served at deputy director for HUD's Region X, which covers the West coast and before that as the FHA Homeownership Center (HOC) director for Santa Ana. MBA briefed Lee on MBA's empowerment agenda for FHA and reviewed a number of specific changes that MBA believes would significantly improve FHA's single family housing programs.
 
For more info please contact Tim Doyle at (202) 557-2860 or toyle@mortgagebankers.org.
 
MBA Meets with NCRC to Discuss Appraisal Issues
On July 20th, MBA staff met with John Taylor, executive director of the National Community Reinvestment Coalition (NCRC) and his staff to discuss a report that NCRC issued in early June on "Predatory Appraising: Stealing the American Dream."

MBA had previously sent a letter to NCRC pointing out a number of inaccuracies contained in the report. During Wednesday's meeting, MBA briefed NCRC on MBA's work with regard to appraisal issues, in particular the potential action steps developed during the "Importance of Accurate Valuations" roundtable held at MBA's National Fraud Summit on March 10. NCRC agreed with some of the reports shortcomings and commented that they have "learned 400 percent more about appraisals" since writing the report. 

MBA and NCRC agreed to work together on initiatives to ensure that lenders and homebuyer receive accurate valuations.
 
For more info please contact Tim Doyle at (202) 557-2860 or toyle@mortgagebankers.org.

Illinois Governor Approves Predatory Lending Database Legislation
Illinois Gov. Rod Blagojevich (D) signed HB4050 on July 21.  As previously reported, this bill creates, among other concerns, a predatory lending database for all areas within Cook County as designated by the State of Illinois. 

Over the past two months MBA worked extensively with the Illinois MBA, MBA members and other interested trade groups to dissuade the governor from passing this legislation. During this time MBA facilitated a conference call with the governor's staff by way of its Democratic Governors' Association relationship, used its grassroots Capitol Assets Program in a letter-writing effort to state legislators, mailed a MBA lender letter to state leadership and distributed a news release to various press groups regarding a trade group letter MBA initiated.

The new law takes effect January 1, 2006. The governor's press release  are attached for your perusal.

For more information, please contact Beth Percynski at (202) 557-2866 bpercynski@mortgagebankers.org.

MBA Hosts Residential MBS Call on SEC Rule AB Compliance
MBA staff held a conference call for members acting as issuers, servicers, trustees and other transaction parties on residential asset-backed MBS transactions.  The call was chaired by Terry McCoy, executive vice president with First Horizon.

One objective was to generate a list of member concerns with Rule AB, a broad regulation that touches on all aspects of registered, private MBS transactions. The Rule is effective now and covers new offerings as of January 1, 2006.  The goal is to assist the real estate finance industry in moving toward a standard for disclosure, registration and reporting. 

For more information on disclosure issues please contact Kathy Gibbons at (202) 557-2870 or kgibbons@mortgagebankers.org.

Dorr Confirmed as Under Secretary for Rural Development
On July 21, the Senate confirmed Thomas Dorr to head the Agriculture Department's rural affairs office, which has jurisdiction over the USDA's Rural Housing Service. In a statement, Agriculture Secretary Mike Johanns said, "Tom has demonstrated his insight into the issues facing rural America and commitment to addressing those issues throughout his four years at USDA. He is a tireless advocate for rural America and I'm very pleased that the Senate recognized his hard work and dedication, as reflected in his confirmation."

On April 15, MBA sent a letter  to Senate Agriculture Committee Chairman Saxby Chambliss, R-Ga., indicating MBA's support for Dorr as strong advocate for the housing needs of this country's rural communities.

For more information, please contact Tim Doyle at (202) 557-2860 or tdoyle@mortgagebankers.org.

MBA Holds Conference Call with FHA on New Renovation Program
On July 19th, MBA's Residential Loan Production Committee and MBA's Renovation Lenders Advisory Group held a conference call with FHA policy officials to discuss implementation issues concerning FHA's new "Streamline K" renovation program. 

In April, FHA issued Mortgagee Letter 2005-19 announcing the new program, which allows lenders to obtain FHA mortgage insurance on properties that require $15,000 or less of rehabilitation, with fewer requirements than FHA's full 203(k) Renovation Loan program. FHA's intention is to help facilitate transactions where a property may need minor work to meet FHA's minimum property standards. 

MBA's Renovation Lenders Advisory Group has been reviewing the program and developed a list of implementation issues and questions. FHA plans to use the discussions from Tuesday's call to develop further policies concerning the program.
 
For more information contact Tim Doyle at (202) 557-2860 or tdoyle@mortgagebankers.org.
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With recent bombings in London still fresh in memory, the House Financial Services subcommittee on Capital Markets, Insurance and Government Sponsored Enterprises takes another look at the Terrorism Risk Insurance Act (TRIA). The subcommittee holds a hearing this Wednesday, July 27 at 10:00 a.m. EDT in room 2128 of the Rayburn House Office Building.

Among those scheduled to testify at the hearing is James Maurin, chairman of Stirling Properties, who will speak on behalf of the Coalition to Insure Against Terrorism, of which the Mortgage Bankers Association is a member.

The Senate Banking Committee has a busy schedule as well. On Thursday, July 28, the committee will mark up S. 190, the "Federal Housing Enterprise Regulatory Reform Act of 2005," which aims to modify the regulatory structure of Fannie Mae and Freddie Mac. The hearing begins at 10:00 a.m. EDT in room 538 of the Dirksen Senate Office Building.

The Banking Committee also holds two sessions on Wednesday, July 27 to mark up pending nominations, including those of Rep. Christopher Cox, R-Calif., to head the Securities and Exchange Commission; Roel Campos and Annette Nazarath as members of the SEC; John Dugan as Comptroller of the Currency; John Reich as a director with the Office of Thrift Supervision; and Martin Gruenberg as vice chairman of the board of directors with the Federal Deposit Insurance Corp .

House hearings can be accessed live over the Internet at http://financialservices.house.gov/. Senate hearings can be accessed at www.capitolhearings.org. You can also check C-SPAN to see if hearings will be televised.

Upcoming Reports/Events:

July 25: Existing Home Sales, National Association of Realtors
July 26: Consumer Confidence, The Conference Board
July 27: MBA Weekly Application Survey
July 27: Revised Building Permits, Commerce Department
July 27: New Residential Sales, Commerce Department
July 27: State and Local Building Permits, Bureau of the Census
July 27: Beige Book, Federal Reserve Board
July 28: MBA Commercial/Multifamily Regional Servicing Forum Series IV, Washington, D.C.
July 28: Housing Vacancies and Homeownership, Commerce Department/HUD
July 29: Gross Domestic Product, Bureau of Labor Statistics
Aug. 1: Construction, Commerce Department
Aug. 2: Personal Income, Labor Department
Aug. 2: Manufacturers' Shipments, Inventories and Orders, Commerce Department
Aug. 2-3:  CampusMBA: The Executive Institute: Capital Markets and Mortgage Pricing Workshop, Washington, D.C.–NEW
Aug. 3: MBA Weekly Application Survey
Aug. 5: Unemployment, Labor Department
Aug. 5: Joint Economic Committee Statement
Aug. 5: Consumer Credit, Federal Reserve
Aug. 9: Federal Open Market Committee
Aug. 9: Wholesale Trade, Commerce Department
Aug. 10: MBA Weekly Application Survey
Aug. 10: Treasury Monthly Statement
Aug. 11: Advance Retail Sales, Census Bureau
Aug. 11: Business Inventories, Census Bureau
Aug. 12: Trade Balance, Commerce Department
Aug. 12: Imports/Exports, Labor Department
Aug. 14-19:CampusMBA School of Mortgage Banking Course III, Chicago– SOLD OUT
Aug. 14-19: CampusMBA School of Mortgage Banking Course I, San Francisco
Aug. 15: Housing Market Index, National Association of Home Builders
Aug. 16: New Residential Construction, Census Bureau
Aug. 16: Consumer Price Index, Labor Department
Aug. 16: Industrial Production and Capacity Utilization, Federal Reserve
Aug. 17: MBA Weekly Application Survey
Aug. 17: Producer Price Index, Labor Department
Aug. 19: Retail E-Commerce Sales, Census Bureau
Aug. 23: Existing Home Sales, National Association of Realtors
Aug. 21-26: CampusMBA School of Mortgage Banking Course I, San Francisco
Aug. 24-25: CampusMBA: Detecting and Avoiding Mortgage Fraud, San Francisco
Aug. 24: MBA Weekly Application Survey
Aug. 24: Revised Building Permits, Census Bureau
Aug. 24: New Residential Sales, Census Bureau
Aug. 30: Consumer Confidence, The Conference Board
Aug. 31: CampusMBA Audio Program: Paper Pusher No More
Aug. 31: MBA Weekly Application Survey
Aug. 31: Gross Domestic Product, Commerce Department
Sept. 7-9: MBA Regulatory Compliance Conference, Washington, D.C.
Sept. 11-13: MBA Document Custody Conference, Miami Beach, Fla.
Sept. 18-23:  Campus MBA School of Mortgage Banking Course II, San Diego
Sept. 19-20: MBA Quality Assurance Conference, Chicago
Sept. 20-21:  CampusMBA: Handling Fraud Files, San Diego – NEW
Sept. 20-21: CampusMBA: Advanced Regulatory Compliance, Atlanta
Sept. 20: Federal Open Market Committee
Sept. 21: MBA MAP Issues Roundtable, Washington, D.C.
Oct. 6-7:  CampusMBA: The Next Step in Combating Mortgage Fraud, San Antonio, Texas
Oct. 6-7:  CampusMBA: Best Practices – Loan Administration Workshop, San Antonio, Texas
Oct. 21-22: MBA State & Local Workshop, Orlando
Oct. 23-26: MBA Annual Convention & Expo, orlando
Nov. 1: Federal Open Market Committee
Nov. 1-2:  CampusMBA: Real Estate Appraisal for Mortgage Lenders Workshop, Chicago
Nov. 3-4: CampusMBA SPeRS and MISMO Workshop, Washington, D.C.
Nov. 6-11: CampusMBA School of Mortgage Banking Course I, Tampa, Fla.
Nov. 7-9: MBA Accounting, Tax & Financial Analysis Conference, Boca Raton, Fla.
Nov. 8-9:  CampusMBA: The Executive Institute: Market Analysis Workshop, Washington, DC
Nov. 8-11: CampusMBA Regulatory Compliance Institute, Denver
Nov. 10-11: MBA Residential Underwriting Conference, Coronado, Calif.
Nov. 30 MBA Legal Issues in Mortgage Technology Conference, San Diego
Dec. 4-9:  CampusMBA School of Mortgage Banking Course II, Las Vegas
Dec. 7-9: CampusMBA eMortgage Workshop, Las Vegas
Dec. 7-9:  CampusMBA Underwriting University, Miami
Dec. 13: Federal Open Market Committee

2006
Jan. 8-13: CampusMBA School of Mortgage Banking I, Dallas
Jan. 22-27: CampusMBA School of Mortgage Banking III, San Francisco
Jan. 29-Feb. 3: CampusMBA School of Mortgage Banking II, Phoenix
Feb: 5-8: MBA Commercial Real Estate Finance/Multifamily Housing Convention & Expo, Orlando
Feb. 7-8: CampusMBA Executive Institute--Valuation Issues Workshop, Miami
Feb: 14-17: Servicing Management Workshop, Phoenix
Feb: 14-17: MBA National Mortgage Servicing Conference & Expo, Phoenix
March 21-22: MBA National Policy Conference, Washington, D.C.
March 29-April 1:  MBA National Technology in Mortgage Banking Conference, San Diego
April 30-May 5: CampusMBA School of Mortgage Banking Course II, Long Beach, Calif.
May 7-10:  MBA National Secondary Market Conference, Chicago
May 16-19:  MBA Commercial Asset Administration Conference, New Orleans
June 11-14: MBA Presidents Conference, Half Moon Bay, Calif.
June 20-21: CampusMBA Executive Institute--Mortgage Business Professional Issues, TBD
Sept. 17-19: MBA Document Custody Conference, Seattle
Sept. 26-27: MBA Quality Assurance Conference, Coronado, Calif.


Information about MBA Events can be found at the MBA Web site, www.mortgagebankers.org; and at the CampusMBA Web site, www.campusmba.org.
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