Reverse Mortgages Show Significant Growth in 2007
February 29, 2008
January 18, 2008 (NRMLA)
FHA insured reverse mortgage loans or Home Equity Conversion Mortgages (HECM) increased by 26.5% from 2006 to 2007. The loans, better known as reverse mortgages, have seen unprecedented growth over the last three years as the demand for reverse mortgage products continues to accelerate. To view the full press release, please click on the link below.
Even in a down market, there is growth. FHA, reverse mortgages, defaults. Are we leaving anything out? Let it be heard!
Grant to help mortgage workers
February 22, 2008
California plans to spend up to $5.6 million in federal grant money to retrain mortgage industry workers who lost their jobs in the wake of the sub-prime lending meltdown, Gov. Arnold Schwarzenegger said Wednesday. 
The state’s initiative will focus on thousands of former employees of mortgage lenders in California, home to many of the big institutions that offered sub-prime mortgages to borrowers with patchy credit histories.
California was hit hardest by last year’s job cuts by mortgage lenders, with a net loss of 15,933 mortgage jobs, or 18.5% of the nationwide total, according to MortgageDaily.com.
Mortgage lenders including Countrywide Financial Corp. and New Century Financial Corp., both based in Southern California, slashed a total of 86,071 jobs last year, according to MortgageDaily.com.
Mortgage lenders in California have slashed a variety of employees from payrolls, from mortgage bankers to clerical and administrative staff.
State Labor and Workforce Development Agency Secretary Victoria Bradshaw said skilled labor is in demand in such growth industries as healthcare and biotechnology.
Real Estate as one of The Best Job for Single Parents
February 19, 2008
Flexibility doesn’t always need to translate into a lower-paying career.
By Tara Weiss
updated 12:23 p.m. PT, Fri., Feb. 15, 2008
When it comes to being a single mother, the two most important characteristics of a job are flexibility and salary. And while those elements are found on a company by company basis, there are certain industries that lend themselves to being more flexible than others.
The most flexible professions include sales, public relations, health care and real estate. As an added bonus, employees who work in those fields have the potential to make decent salaries. Education is also on the list. Although the hours are set, they’re likely to be the same as their school-age children’s…(flex your way here for the complete story)
Will Higher Loan Limits Matter?
February 14, 2008
This site seems pretty straightforward and provides real estate professionals
with informative videos.
Will higher loan limits sweeten the state of our industry and promote increased business for you?
Mortgage application volume rises
February 8, 2008
How has the rise in mortgage applications affected your business?
Loan Request for Home Purchases Up Sharply in Latest Week!
updated 12:29 p.m. PT, Wed., Feb. 6, 2008
WASHINGTON - Mortgage application volume increased 3 percent during the week ending Feb. 1, according to the trade group Mortgage Bankers Association’s weekly application survey.
The MBA’s application index rose to 1,086.6 during the week from 1,054.9 the previous week.
Application volume was pushed higher by a 12 percent jump in purchase applications. Refinance volume fell 1 percent, and accounted for 69.2 percent of all mortgage applications.
…click to read the entire story
Superbowl XLII: Careerbuilder vs. Monster!
February 1, 2008
