Author: Titan Lenders Corp.
Dateline: Mon, 02 Feb 2009
A R T I C L E:
DENVER, Colo., Feb. 2 (SEND2PRESS NEWSWIRE) -- Extending TARP funds to bolster mortgage warehouse line lending capacity will ease frontline liquidity challenges as lowering interest rates motivate solid, low risk borrowers to seek new or refinanced mortgages, and allows lenders to deliver high quality investment grade mortgages to the market, according to the blog (titanlenderscorp.com/blog/) published by the founder and chief executive for Titan Lenders Corp., a U.S. outsource services provider to mortgage lenders.
The MBA this year saw a 75-percent reduction in the number of warehouse lending participants to their annual convention, with only a handful taking new applications. The disappearance of major market players, like Countrywide, First Collateral and Washington Mutual, only forebodes further constraints as other warehouse line lenders succumb to the credit availability malaise.
"Because our customers are lenders, our ear is to the ground for what is driving and what is restraining the stabilization of normal, conventional mortgage lending activity in many parts of the country," said Mary Kladde, who founded the outsource services firm in 2007. "The decline in warehouse line lenders and overall shrinkage in the availability of bridge financing for even high FICO, 100-percent compliant FHA and conventional loans hinders an area of our economy where the rubber hits the road."
"Warehouse line lending is the lifeblood for correspondent mortgage lenders still serving homebuyers and homeowners in this market," she said.
It is essential that public policy shapers and advisors, and elected officials at the Federal and State governments, especially those that have access to Obama Administration economic teams and Treasury Department heads understand the function of warehouse line lending in the recovery not only of the mortgage sector, but for the many housing-dependent industries, Kladde added.
In her blog Kladde proposes that, under the direction of the FHFA or another regulatory body, the federal government earmark TARP funds to create a nationally subsidized Warehouse Line Provider.
"The idea is a simple one born of common sense. Correspondent mortgage lenders in good standing could immediately access the needed line extensions or obtain a new line to meet the demands of the market. Then, only high quality, thoroughly audited and compliant loans would be funded through these lines.
"The risk exposure is extremely limited, in that the line is a short-term extension of credit that will replenish itself every 15-30 days as loans are sold to the purchasing investor. Further, traditional warehouse lending fees and interest would be charged to the participating lenders for their use of the funds, thereby generating income for other economic stimulus programs.
"If a federally funded, closely regulated warehouse line becomes a pillar of the economic stimulus package, taxpayer money would immediately show a return on investment and potentially lessen the overall burden by producing revenue for the government," Kladde writes.
Titan Lenders Corp. (www.titanlenderscorp.com) is one of a specialized few providers of mortgage back office fulfillment services, a not-well-understood facet of mortgage lending that includes closing, funding, and post closing services. Community banks, credit unions, mortgage bankers and brokers use outsource providers strategically to minimize compliance risks in a time-sensitive error-averse environment. Fluctuations in mortgage lending volume also lead some lenders outsource their entire back office operation and secure predictable "per transaction" pricing rather than maintaining an inflexible static in house staff.
Contact Mary Kladde at mary.kladde@titanlenderscorp.com.
All trademarks and service marks are the property of the respective parties.
###
Copyright © 2009 by Titan Lenders Corp. and Send2Press® Newswire, a service of Neotrope® - all rights reserved. Information believed accurate but not guaranteed. Sourced on: freeNewsArticles.com.
• Web Image (72dpi): https://www.send2press.com/mediaboom/09-0202-TitanLend_72dpi.jpg
• Story Title: Direct Federal TARP Funding for Warehouse Line Lending a 'Frontline' Approach to the Mortgage Industry's Liquidity Issues
• REFERENCE KEYWORDS/TERMS: Mary Kladde blog, , , Titan Lenders Corp, Banking and Finance, , , .
IMPORTANT NOTICE: some content which is considered "old" or "archival" may reference an event which has already occurred; some content possibly considered "advertorial" may also reference a promotion or time-limited/sensitive offering, and in all of these instances certain material may no longer be valid. For notably stale content, you should directly contact the company/person mentioned in the text (Titan Lenders Corp.); this site cannot assist you with information about products/services mentioned in the news article, nor handle any complaints or other issues related to any person/company mentioned or promoted in the above text. Information believed accurate but not guaranteed as of original date of story [Mon, 02 Feb 2009 13:17:36 GMT].
USE THIS CONTENT FOR FREE: To use this content in your newspaper, broadcast outlet, news portal, blog/ezine or similar, free of cost, CLICK HERE to learn how.
Dateline: Mon, 02 Feb 2009
freeNewsArticles Story Summary: “DENVER, Colo. (SEND2PRESS NEWSWIRE) -- Extending TARP funds to bolster mortgage warehouse line lending capacity will ease frontline liquidity challenges as lowering interest rates motivate solid, low risk borrowers to seek new or refinanced mortgages, and allows lenders to deliver high quality investment grade mortgages to the market, according to the blog published by the founder and chief executive for Titan Lenders Corp., a U.S. outsource services provider to mortgage lenders.”
A R T I C L E:
DENVER, Colo., Feb. 2 (SEND2PRESS NEWSWIRE) -- Extending TARP funds to bolster mortgage warehouse line lending capacity will ease frontline liquidity challenges as lowering interest rates motivate solid, low risk borrowers to seek new or refinanced mortgages, and allows lenders to deliver high quality investment grade mortgages to the market, according to the blog (titanlenderscorp.com/blog/) published by the founder and chief executive for Titan Lenders Corp., a U.S. outsource services provider to mortgage lenders.
The MBA this year saw a 75-percent reduction in the number of warehouse lending participants to their annual convention, with only a handful taking new applications. The disappearance of major market players, like Countrywide, First Collateral and Washington Mutual, only forebodes further constraints as other warehouse line lenders succumb to the credit availability malaise.
"Because our customers are lenders, our ear is to the ground for what is driving and what is restraining the stabilization of normal, conventional mortgage lending activity in many parts of the country," said Mary Kladde, who founded the outsource services firm in 2007. "The decline in warehouse line lenders and overall shrinkage in the availability of bridge financing for even high FICO, 100-percent compliant FHA and conventional loans hinders an area of our economy where the rubber hits the road."
"Warehouse line lending is the lifeblood for correspondent mortgage lenders still serving homebuyers and homeowners in this market," she said.
It is essential that public policy shapers and advisors, and elected officials at the Federal and State governments, especially those that have access to Obama Administration economic teams and Treasury Department heads understand the function of warehouse line lending in the recovery not only of the mortgage sector, but for the many housing-dependent industries, Kladde added.
In her blog Kladde proposes that, under the direction of the FHFA or another regulatory body, the federal government earmark TARP funds to create a nationally subsidized Warehouse Line Provider.
"The idea is a simple one born of common sense. Correspondent mortgage lenders in good standing could immediately access the needed line extensions or obtain a new line to meet the demands of the market. Then, only high quality, thoroughly audited and compliant loans would be funded through these lines.
"The risk exposure is extremely limited, in that the line is a short-term extension of credit that will replenish itself every 15-30 days as loans are sold to the purchasing investor. Further, traditional warehouse lending fees and interest would be charged to the participating lenders for their use of the funds, thereby generating income for other economic stimulus programs.
"If a federally funded, closely regulated warehouse line becomes a pillar of the economic stimulus package, taxpayer money would immediately show a return on investment and potentially lessen the overall burden by producing revenue for the government," Kladde writes.
Titan Lenders Corp. (www.titanlenderscorp.com) is one of a specialized few providers of mortgage back office fulfillment services, a not-well-understood facet of mortgage lending that includes closing, funding, and post closing services. Community banks, credit unions, mortgage bankers and brokers use outsource providers strategically to minimize compliance risks in a time-sensitive error-averse environment. Fluctuations in mortgage lending volume also lead some lenders outsource their entire back office operation and secure predictable "per transaction" pricing rather than maintaining an inflexible static in house staff.
Contact Mary Kladde at mary.kladde@titanlenderscorp.com.
All trademarks and service marks are the property of the respective parties.
###
Copyright © 2009 by Titan Lenders Corp. and Send2Press® Newswire, a service of Neotrope® - all rights reserved. Information believed accurate but not guaranteed. Sourced on: freeNewsArticles.com.
• Web Image (72dpi): https://www.send2press.com/mediaboom/09-0202-TitanLend_72dpi.jpg
• Story Title: Direct Federal TARP Funding for Warehouse Line Lending a 'Frontline' Approach to the Mortgage Industry's Liquidity Issues
• REFERENCE KEYWORDS/TERMS: Mary Kladde blog, , , Titan Lenders Corp, Banking and Finance, , , .
IMPORTANT NOTICE: some content which is considered "old" or "archival" may reference an event which has already occurred; some content possibly considered "advertorial" may also reference a promotion or time-limited/sensitive offering, and in all of these instances certain material may no longer be valid. For notably stale content, you should directly contact the company/person mentioned in the text (Titan Lenders Corp.); this site cannot assist you with information about products/services mentioned in the news article, nor handle any complaints or other issues related to any person/company mentioned or promoted in the above text. Information believed accurate but not guaranteed as of original date of story [Mon, 02 Feb 2009 13:17:36 GMT].
USE THIS CONTENT FOR FREE: To use this content in your newspaper, broadcast outlet, news portal, blog/ezine or similar, free of cost, CLICK HERE to learn how.
As a result, Rijkeboer, who also possesses a master's degree in business administration, is currently seeking an exclusive foreign bank partner or investor for the Belgium market. 
Most recently Mr. Laitsch held the position of President and Board Director for the Southern California Division of Placer Sierra Bank. 
"TransAct Technologies has introduced this new Cleaning Card System as part of an overall preventive maintenance program," said Jim Stetson, TransAct Senior Vice President, "This product now offers TransAct Technologies Epic 950(R) and Epic 850(R) Ticket Printer customers an excellent way to clean these devices, helping to increase the products' longevity and maintain the quality of the printed ticket. Further, we are pleased to provide our customers quick and convenient availability on our web store, transactsupplies.com." 
The hotline is available Monday through Friday from 9:00 a.m. to 4:00 p.m.
Capital Market Technologies' CEO Jack Bouroudjian said, "The agreement with Better ATM Services' allows us to make another important step in providing unique solutions to the financial markets in the U.K. and Europe. The expected impact of Better ATM Services' technology on businesses ranging from banks to advertisers is quite exciting. This move brings a very useful and practical solution to the changing European payments environment."
On April 9, the Associated Press reported the results of a nationwide survey of financial literacy among high school seniors under the headline, "High School Seniors' Financial Know-How Goes from Bad to Worse." In that survey, released by the Federal Reserve, seniors correctly answered questions about personal finance and economics only 48.3% of the time, the worst score out of six surveys conducted over the last 12 years. Commenting on the survey results, Fed Chairman Ben Bernanke remarked, "In light of the problems that have arisen in the subprime mortgage market, we are reminded of how critically important it is for individuals to become financially literate at an early age...."
Mr. Mercardante expressed his sincere thanks for the opportunity to be associated with 1st Pacific. "1st Pacific is an outstanding organization, and my resignation from their board was only prompted by the new opportunity at Discovery," said Mercardante.