In addition to helping families at-risk for default, the program is designed to assist those facing future interest-rate increases and those who have been making payments on time yet had subprime credit when their loans were originated. Countrywide announced plans to offer lower-interest prime loans or an FHA-, Fannie Mae- or Freddie Mac-insured mortgage.

Federal Reserve Board Releases Tips for Consumers
The Federal Reserve Board released a publication that gives five tips for consumers to manage their checking accounts while safeguarding their funds from unauthorized transfers by criminals. The publication, available on the Board's web site and in print, offers consumers advice on how to protect and manage their accounts. Suggestions include protecting account information, reviewing monthly statements and communicating any problems with the bank.

First National Bank of Nassau County Forms Wholesale Mortgage Operation
First National Bank of Nassau County, Fernandina Beach, Fla., a subsidiary of Coastal Banking Co., Beaufort, S.C., formed a new wholesale mortgage division. The company plans to build the wholesale mortgage unit in the metro Atlanta and Charlotte markets, eventually pursuing North Florida and other areas in Coastal Bank’s tri-state area.

Gadberry Group, Ethnic Technologies Form Alliance
Gadberry Group LLC, Little Rock, Ark., a provider of household population data, and Ethnic Technologies LLC, South Hackensack, N.J., a provider of multicultural marketing, formed a partnership to provide demographics for site location and customer targeting. The product, MicroBuild, combines the Ethnic Technologies’ E-Tech 7.0 system and Gadberry’s MicroBuild population product.

eLynx, Harland Financial Integrate Document Technology, Services
Cincinnati-based eLynx, a provider of electronic document communications network for the financial services industry, announced an agreement to interface its mortgage document technology products and services with those of Harland Financial Solutions, Lake Mary, Fla. Through the agreement, users of Harland Financial Solutions' GreatDocs print technology and compliant mortgage documents have access to expedite, eLynx's suite of electronic mortgage services.

The agreement between is based on leveraging existing GreatDocs technology and loan origination system integrations to generate eLynx-compatible transactions. GreatDocs users have access to all eLynx's suite of services for eSignatures, eDelivery and electronic workflow and collaboration.

Titan Lenders Corp Adds Docu Prep as Preferred Vendor
Titan Lenders Corp., Denver, a mortgage back office fulfillment services provider specializing in closing, funding, and post closing services, added Docu Prep, Salt Lake City, as a preferred document preparation and compliance provider.

Docu Prep offers mortgage document services to mortgage lenders and servicers, mortgage brokers, credit unions, vendors and small- to mid-sized banks.
 
Credit Plus Announces ScoreWizard
Credit Plus, Salisbury, Md., a provider of credit information, announced the availability of its scoring tool, ScoreWizard, which can be used with any loan origination system as well as its web-based Mortgage DatatNet. Potential errors automatically appear on the credit report when the Error Detection mode is activated.

ScoreWizard reviews positive and negative factors influencing a potential borrower’s credit score, including suggestions on how to improve it. It also allows users to generate a separate analysis for one, two or three bureaus, generate an analysis for co-borrower and simulate future changes. After the borrower takes proper actions, Credit Plus’ Score Plus department helps obtain an updated report. Within 72 hours, it will update the borrower’s credit bureau files to reflect the new score.

Edgewater Lending Group Adopts PriceMyLoan
Portland, Ore.-based Edgewater Lending Group Inc., adopted automated underwriting and loan pricing technology from PriceMyLoan, Costa Mesa, Calif. PML is a provider of automated underwriting and loan pricing technology to the mortgage industry. Edgewater Lending Group is a mortgage banking and brokerage company with both retail and wholesale origination channels.

Fidelity National Real Estate Markets IMAPP’s iCheck
Fidelity National Real Estate Solutions, Jacksonville, Fla., a division of Fidelity National Financial Inc. announced an agreement with IMAPP Inc., Tampa, Fla., to market its iCheck to Fidelity National MLS Systems & Solutions customers.

The iCheck system provides MLS data verification. The application, which can be integrated into MLS platforms, aims to improve compliance staff efficiency. Servicing 32 realtor associations and operating with eight MLS vendors, iCheck scans more than 1.5 million listings each day.

Lenders Credit Consulting Group Aims to Help Industry
The newly formed Lenders Credit Consulting Group, based in Irvine, Calif., provides consultancy services for loss mitigation and recovery, repurchase reviews and responses, EPD review and investigation, risk management, due diligence audits and responses, fraud investigation, short sale qualification and negotiation as well as testimony.

The group will contract with mortgage bankers, warehouse lenders, Wall Street investment firms, mortgage insurance companies, legal and compliance firms, due diligence companies and real estate attorneys to seek cost-effective alternatives to solve lending-related issues.

ProVest Partners with LoyalDog Software
ProVest, Tampa, Fla., a national process server management company in the default servicing industry, partnered with Seattle-based LoyalDog Software to develop an interface that aims to reduce reporting time for process servers.
 
LoyalDog provides products and services to manage day-to-day reporting including billing, accounting and case management. By integrating with ProVest, updates entered into LoyalDog's system automatically transfer to ProVest's proprietary management system, TRACKER.
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Robbins will discuss key issues facing the real estate finance industry and what looms on the horizon. He will speak about the "lessons learned" from the current credit market, lending and housing situation and will address ways to avoid these circumstances going forward.

This special no-cost, invitation-only event is complimentary of CMBA and MBA. Seating is limited; to RSVP, please send your contact information to commonwealthclubspeech@mortgagebankers.org. For more information, please contact Missy McTamney at 202/557-2850.

The Commonwealth Club of California is at 595 Market Street, 2nd Floor, San Francisco, CA 94105.
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This is the only conference of its kind offering the mortgage industry's legal and technology professionals the opportunity to confer, interact and dig deeply into the myriad of hot topics in this sphere.

This year the conference includes, at no extra charge, pre-conference workshops for those new to the industry or those who need to refresh their skills. These sessions are designed to address the range of laws affecting mortgage technology, including ESIGN, UETA and a host of compliance laws, as well as key technology concepts and systems, such as XML, MISMO and MERS.

Program topics include the latest developments in the legal and technology sphere, including:

• eMortgage adoption
• Loss mitigation and new regulatory guidance
• Warehouse lending in the virtual world
• Intellectual property
• eDiscovery and records retention issues
• Outsourcing
• Standardization
• Data security
• Fair lending and anti-fraud protection
• Identity theft and breach notification
• Compliance and new technology tools
• Secondary market developments

This is a unique opportunity to ensure that you and your company are at the vanguard of legal and technology advancement.

Who Should Attend

• General counsel
• Regulatory compliance professionals
• Senior executives
• Business managers
• Information technology professionals
• Private attorneys
• Other personnel involved in legal and regulatory issues

Network with Attendees
Conference sponsorship is the ideal vehicle to grab the attention of this important audience and position your company as a leader in the industry. All sponsorships include a tabletop exhibit opportunity, but space is limited. For more information download the sponsorship brochure, or contact Phil Giorgianni at phil@mortgagebankers.org or call (202) 557-2733.

Registration:
MBA Members Early Registration Fee before November 14: $995; Nonmembers: $1,495. After November 14: MBA members $1,175; nonmembers $1,595.

To register online, visit http://store.mortgagebankers.org/ProductDetail.aspx?product_code=M2802033/REGIS

Earn CLE Credits
The Legal Issues in Mortgage Technology Conference is intended to satisfy CLE course requirements upon approval by applicable state bar licensing entities.

Hotel
Program registrants are responsible for making their hotel reservations. Be sure to make your reservations before the hotel cutoff date of November 7. The cutoff date does not ensure availability of rooms. If rooms are available until November 7, you will receive the discounted hotel rate provided below. After November 7, reservations will be made on a space-available basis only, and you will be charged the regular hotel rate.
 
Hotel del Coronado
1500 Orange Ave.
Coronado, Calif. 92118
(619) 522-8238/ (800)
MBA discount rate: Rooms: $210/night, single/double, +$17 resort charge (based on availability)

As a National Historic Landmark, the Hotel del Coronado has a rich and colorful heritage that sets it apart from neighboring Coronado hotels. From Marilyn Monroe to Charles Lindbergh, from state dinners to the ghost of Kate Morgan, the Del is an American treasure with more than 115 years of fascinating stories to tell. Visit the Hotel del Coronado Web site for more highlights. http://www.hoteldel.com/.

To view the conference brochure, go to http://www.mortgagebankers.org/files/conferences/pdf/M2802033_brochure.pdf.
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Under pressure from House “Blue Dog” Democrats—a group of 47 Democratic members of the House who tend to lean toward fiscal conservatism—and nearly a dozen Republican members, the Committee pulled from consideration H.R. 3609, the Emergency Home Ownership and Mortgage Equity Protection Act of 2007.

MBA has expressed concerned that if judges are allowed to modify or render loans unsecured during a bankruptcy, it would become far more difficult to sell mortgages and would reduce liquidity. Ultimately, MBA said, consumers would have more trouble obtaining or refinancing a mortgage and would see an increase in costs to reflect this additional risk.

In a letter to the House Financial Services Committee, eight Republican House members noted that "Mortgage originators will no longer be sure that the money they lend is truly secure. This uncertainty will require higher interest rates and larger down payments to offset the risk and will push many lenders out of making certain mortgages." MBA also sent a letter to members of the Judiciary Committee outlining its concerns with the bill. Additonally, MBA has prepared a document outlining its strong opposition to the legislation.

The American Bankruptcy Institute this week said bankruptcy filings have increased by nearly 23 percent through the year-over-year period ending in September and by nearly 45 percent during the first nine months of this year over the same period a year ago.

The H.R. 3609 markup has not been immediately rescheduled.
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The workshop, which begins at 9:30 a.m. ET, will include elected state and local officials, banking regulators, mortgage lenders, banks, credit unions, housing advocates, community groups and others to facilitate discussions on how to best to help homeowners with troubled mortgages.

Frank this week introduced H.R. 3915, the Mortgage Reform and Anti-Predatory Lending Act of 2007. The bill would alter mortgage lending practices. MBA, while supportive of some of the bill’s proposed reforms, said key provisions of H.R. 3915 would have unintended consequences that would lock out prospective homeowners and affect securitization markets.

The workshop takes place at the Boston Fed building, 600 Atlantic Avenue. Additional information can be found at www.financialservices.house.gov/.
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