| MDMC Ends Year of Explosive Growth
SUSSEX, Wis.--(BUSINESS WIRE)--MDMC, a mortgage loan analysis firm that provides due diligence and agency delivery services to companies throughout the country, announces a 28 percent growth in revenue for 2006. In response to this growth and to meet growing demand, the company has opened an additional operations center and significantly increased the number of employees. MDMC reviews a variety of newly originated mortgage loans and seasoned bank portfolios, including prime, alt-a, subprime, home equity and reverse mortgage loans "The past year was very significant for MDMC in terms of our growth in both revenue and capacity," explained Kent Loehrke, principal for MDMC. "We completed a number of jobs of 3,000 loans or more for several top 10 Wall Street investment firms. In 2006 we increased our capacity by 460 percent in our centralized underwriting facility and we also created a quality control module as part of our continued commitment to maintaining a high level of quality." To accommodate the growth, MDMC has added an operations center in Las Vegas.
After 28 years, Weis leaving HP
Hewlett-Packard executive and longtime Vancouver resident Bob Weis is leaving the company after 28 years. Weis was among a stalwart group who marketed HP's now wildly successful inkjet printer line when it was introduced in the late 1970s. Colleagues remember Weis lugging the Vancouver division's first product, the HP 2675, through airports from one prospective client to the next. Weis later became general manager for the Vancouver site and vice president for the Americas Consumer Operations for HP's Imaging and Printing Group. Weis, 51, said he has accepted early retirement and will leave HP on May 31. Meanwhile, several analysts last week moved HP stock into the "buy" category based on the company's continuing market prospects and cost-cutting opportunities. With a share price at 12.8 times earnings, one analyst predicted HP stock would head into the high $40s in fiscal 2008.
3 Tips for Spring Homebuyers
Most of what you've heard about the cooling housing market has been geared toward homeowners and the companies that cater to them. Falling home prices and upcoming rate adjustments on creative mortgages have current homeowners up against the ropes. Many are concerned that subprime lending troubles will spread throughout the economy, and they've already had profound effects both on lenders like Novastar (NYSE: NFI) and on homebuilders. Just today, Beazer Homes (NYSE: BZH) is responding to comments about a possible federal investigation into its mortgage lending practices. Even Lennar (NYSE: LEN) CEO Stuart Miller is concerned that the "typically stronger spring buying season hasn't yet materialized" in 2007. But there are two sides to every story. If you're bucking the trend and looking to buy a home this spring, you'll find yourself in the friendliest market for buyers in years.
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