| Silver Hill(R) Unveils Alliance Program With Rewards and ...
MIAMI, March 29 /PRNewswire/ -- Silver Hill Financial, LLC (http://www.silverhillfinancial.com/), a leading national real estate lender specializing in small-balance commercial loans, has unveiled its new Alliance Program with value-added benefits reserved for its premier mortgage broker clients. With tiered levels of Orange, Silver and Platinum Status, Silver Hill's Alliance Program enhances the small-balance commercial experience for top-producing clients and rewards them for their loyalty. Any mortgage broker registered with Silver Hill is eligible for the Alliance Program upon meeting criteria based on number of loans or volume closed with Silver Hill. The Alliance Program offers incentives such as enhanced, customizable marketing support; greater involvement in the processing and closing functions; support from a dedicated Silver Hill team member; preferred pricing; customized training; and accelerated Silver Star Rewards(SM) points.
UPDATE 2-US mortgage bond issuance falls in 1st-qtr 2007
NEW YORK, March 30 (Reuters) - U.S. mortgage-backed securities issuance fell in the first quarter of 2007 from the same period last year, Thomson Financial said on Friday. Stress in the subprime mortgage market delayed and prevented some issuance, but its overall impact was moderate. U.S. MBS issuance totaled $247.7 billion in the first quarter of 2007, down from $261.4 billion in the same period a year earlier, the financial data firm said. "Subprime is still a narrow enough sector of the market, and the components more subject to defaults are a still narrower component of that," said Richard Peterson, director of capital markets at Thomson Financial in New York. U.S. mortgage-backed securities issued by Fannie Mae (FNM.N: Quote, Profile, Research) and Freddie Mac (FRE.N: Quote, Profile, Research) have so far been unaffected by the delinquencies in the subprime mortgage market, which caters to borrowers with poor credit histories.
State legislators focus on subprime lending crisis
Rising foreclosures and the near-collapse of the market for home loans to those with bad credit have triggered a flood of proposals from Texas lawmakers. The suggested reforms range from requiring consumer education to making mortgage fraud easier to prosecute in a state that, according to RealtyTrac, had the fourth-highest rate of foreclosures in 2006. Although the measures have the momentum of rising home loan defaults and worrisome news out of the subprime market, some still face resistance. Much of the opposition is from mortgage brokers, those who help borrowers shop for loans, because many of the bills aim to change how they do business in the state. In recent years, mortgage brokers have been responsible for an increasing number of mortgages and today arrange more than 50 percent of loans, according to trade groups.
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