Finance Mortgage Banking
FNC Automation Ensures HVCC Compliance for Mortgage Lenders
May 9, 2008

FNC's premier analytic product-GAAR (Generally Accepted Appraisal Rules) - can help lenders comply with provisions that will require them to report the results of quality control testing, officials of the mortgage technology company have reportd. Built into FNC's Collateral Management System (CMS) - the workflow solution used by top U.S. mortgage lenders - the GAAR Compliance Series automatically reviews appraisals for regulatory and Fannie Mae and Freddie Mac seller/servicer compliance. GAAR is also available online and through FNC's new Collateral Headquarters, a workflow solution developed for regional and community banks. When GAAR runs, appraisals entered into the system are automatically reviewed for compliance with generally accepted appraisal rules. Reports are generated that list "flags" of potential violations, showing lenders where to take appropriate action. They may choose to accept the appraisal as is, request additional information from the appraiser, flag it for further review, or reject it.

 
Recent Mortgage Banking Headlines
Carlton Arranges $630M Equity, Debt Recapitalization of Manhattan Retail Complex
July 03, 2008
Carlton Advisory Services announce the $630 million equity and debt recapitalization of the retail condominium at 666 Fifth Avenue in New York City.
Holliday Fenoglio Arranges $23M Construction Loan for Houston Office Development
July 02, 2008
The Houston office of Holliday Fenoglio Fowler L.P. arranged a $23.5 million construction loan for a speculative class A, 180,000-square-foot office development in The Woodlands, Tex.
Tight Money May Kill Pair of Phoenix Developments
June 25, 2008
Two of the Phoenix, Ariz.-based projects may fall prey to the financial woes of Mortgages Ltd., The Arizona Republic reported.
Freddie Mac Buys $140M in Seniors Housing Mortgages
June 20, 2008
Freddie Mac has announced the purchase of a $140 million pool of mortgages from Capmark Finance Inc.
Tom Obryan Wilshire's $100M Mortgage Pool Fund Targets Bridge Financing
June 20, 2008
A Los Angeles–area developer is in a bind. He’s redeveloping a retail/restaurant strip mall and is well along with entitlement, but now he can’t get additional funding to finish that process, jeopardizing the entire project, even though the deal is sound and the property continues to generate rents.
 

 

$8.9B Penn Gaming Merger Crumbles
July 03, 2008
By Barbra Murray, Contributing Editor After spending the last few months attaining all the requisite approvals from various gaming commissions and boards, Penn National Gaming has put the kibosh on its proposed $8.9 billion merger with PNG Acquisition Company Inc.,...

Colonial Properties Trust Sells 5 Apartment Communities for $82M
July 03, 2008
By Gail Kalinoski, Contributing Editor Colonial Properties Trust, a multi-family-focused REIT, is continuing its plan to dispose of older assets by selling five apartment communities in two transactions for a total of $81.8 million. The buyer or buyers were not...

H&R Sells 11 in Canada
July 03, 2008
By Thomas Peretti, Contributing Correspondent -- H&R Real Estate Investment Trust has announced the completion of the sale of eleven retail properties. The firm netted approximately $72 million from the transaction. The company expects approximately a $9 million return on...

LA Developer Partners with Vegas Officials for Museum, Hotel Redevelopment
July 03, 2008
By Tonie Auer, Southwest Correspondent -- Less than a year after entering the Las Vegas market with the acquisition of the Lady Luck Hotel and Casino, Los Angeles-based CIM Group won a deal with the city to develop land adjacent...

Lightstone Acquires Interests in 20 Outlet Centers in $456M Deal
July 02, 2008
By Barbra Murray, Contributing Editor Lightstone Value Plus REIT will soon have a stake in 20 factory outlet centers, now that it has signed on purchase from 22.54 to 25 percent interests in the properties from affiliates of Arbor Mortgage...

How to K.I.S.S Problems Goodbye
June 27, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Keep It Simple Stupid. One of the most effective ways to order your world is to simplify everything you encounter. The problem is that keeping it simple often becomes very difficult when our...

Does Appearance Matter?
June 20, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --So, do appearances really matter? They shouldn't, but the reality is that they most certainly do. As the old saying goes, "you only get one chance to make a first impression," and often...

Recognizing the Need for Change
June 13, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Since the title of today's column is "Recognizing the Need for Change," I'm going to switch things up a bit and ask you to answer a question posed by me. I first warned...

How to Reduce Employee Turnover
June 06, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --Few things in business are as costly and disruptive as unknowingly having the proverbial revolving door for employees to exit from. While there are many secondary and tertiary items that can influence an...

How To Delegate for Success
May 30, 2008
By Mike Myatt, Chief Strategy Officer, N2growth --If you desire to become a top CEO it will be essential for you to master the art of leveraging down. Think of any top performing CEO and you'll find that to the...