| Subprime troubles hit home
Subprime-mortgage lenders nationwide are in the midst of a meltdown, and the effects are starting to ripple through Ohio. Mortgage lenders are closing offices and getting pickier about who can qualify for a loan, while regional banks are facing deflating bottom lines and selling their subprime-mortgage divisions. It's clear that the subprime-loan market, which often involves lending money to those with questionable credit and has been blamed for Ohio's skyrocketing foreclosure rate, is shrinking. "The mortgage industry is experiencing a significant contraction," said Brendan McDonagh, CEO of HSBC Finance Corp, in testimony to the Senate Banking Committee. "The subprime market has lost 20 percent of its origination capacity" just from lenders going out of business, he said.
Q4 2006 Conseco, Inc. Earnings Conference Call - Final
OPERATOR: Thank you for holding, and welcome to the Conseco teleconference. We will begin an address by Dan Murphy, Conseco's Senior Vice President of Investor Relations. During the presentation, all teleconference participants will be in listen-only mode. A question-and-answer session will follow the presentation. [OPERATOR INSTRUCTIONS] Thank you for your attention and here is Dan Murphy. DAN MURPHY, SVP, IR, CONSECO, INC.: Good morning, and thanks for joining us on Conseco's fourth quarter earnings conference call. I'm pleased to have several key Conseco executives on the call with me today, including Jim Prieur, Conseco's CEO; Gene Bullis, Chief Financial Officer; Mike Dubes, President of Conseco Insurance Group; Scott Perry, President of Bankers Life; Greg Barstead, President of Colonial Penn Life; and John Wells, Senior Vice President of Long Term Care.
Calyx Software Announces Point 6.0 with Mortgage Banker ...
TAMPA, Fla.--(BUSINESS WIRE)--At the 2007 MBA Mortgage Technology Conference, Calyx® Software previewed Point® 6.0, the first Point version to include Mortgage Banking-specific functionality. Point version 6.0 is expected to be released summer 2007, with the new banking solution provided at no additional cost. With 12 new screens in version 6.0, Point can provide report and status data for all activities, from underwriting through loan sale, and trail documents management. This eliminates the need to use multiple systems when funding and selling loans. Key data will now be stored in Point, and loan team members will be able to perform loan reviews to prevent errors rather than find them afterwards. In addition, with the ability to run enhanced reports on that data, and more data access control, Point can be relied upon as a system of record for small and midsize bankers.
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