Industrywide foreclosure rate was 0.54 percent in the fourth quarter, the highest in its 37 years of surveys. Amidst the reporting that Countrywide was reporting an increase in foreclosures was the news that Countrywide was also increasing the number of loans that they were servicing. Additionally it was reported that foreclosures are now the highest ever recorded in 4th quarter 2006. For Countrywide having more loans in the pipeline is a clear sign that the long predicted consolidation in the marketplace is continuing. Countrywide as the largest US mortgage lender isn't immune to the effects of the subprime market but it's far more likely to weather the storm. Furthermore customers are more likely to chose vendors who are larger (and thus seen as more trustworthy). It's going to be interesting to see what Wells Fargo reports on April 17th.

Labels: Calabasas, countrywide, countrywidesubprime, forclosures, foreclosures37yearhigh

  ¶ Industrywide foreclosure rate was 0.54 percent in the fourth quarter, the highest in its 37 years of surveys. 0 Comments

LoanWeb Honored by Los Angeles Business Journal

LoanWeb Honored by Los Angeles Business Journal (PR Web)

Online mortgage marketing company recognized in top 100 fastest-growing.

Despite the LA Business Journal mostly being a vanity publication, it's refreshing to see a company like Loanweb continuing to thrive in today's tough market. Loanweb was one of the first brokers to really embrace the internet as a lead generation tool. They are based in Calabasas and have been doing online loan applications since 1996.

Labels: Calabasas, LABusinessJournal, Loanweb, loanweb.com, southerncalifornia

  ¶ LoanWeb Honored by Los Angeles Business Journal 0 Comments