Three of the five largest mortgage lenders in the

District of Columbia are mortgage banking firms rather than savings and loan associations, a Washington Post computer analysis shows.In terms of the number of mortgage loans made in the city over the past three years, Colonial Mortgage Service Associates, Inc., is the largest lender in the city.  However, in terms of the dollar value of mortgages, Colonial is second to Perpetual Federal Services and Loan.Among the top 20 mortgage lenders in the city, six were mortgage bankers that made 4,461 mortgage loans totaling $1563 million during the past three years, while 14 were banks and savings and loan associations that made 7,434 loans worth $360.3 million, according to the analysis. (more…)

Last week’s column noted how a mortgage banker like Dominion Bankshares Mortgage Corp. (DBMC) of Virginia, in an effort to build a portfolio of as many mortgage loans as possible and earn fees for servicing them, concentrates on originating loans and selling them quickly — either to a broker who will resell them to investors, or to a mortgage credit lending agencies. (Insurance companies, thrifts and commercial banks are among others that create mortgage loans.) Now we will examine how mortgages are priced and how points evolve. (more…)

Credit standards that consumers must meet to get a mortgage are expected to stiffen over the next few months as mortgage lenders act to shore up the reputation of the American home mortgage in national and international capital markets.For the past several years, securities backed by mortgages have sold well in capital markets, making mortgage money readily available for home buyers. Lenders also have been willing to write loans with discounted starting interest rates and other devices to make mortgages affordable to a broad sector of the public. (more…)

Real estate funds don’t invest in bomb shelters but, just the same, they do offer some degree of protection against stock market shocks. Both before and after Sept. 11, bricks and mortar plays have been holding up better than diversified equity funds.The average real estate fund has returned 12.4 per cent in the 12 months ended in August. By comparison, the average Canadian equity fund is down 14 per cent over the same period. (more…)

To sell real estate a person must hold a current Certificate of Approval. To get the certificate they must complete the salesperson’s course or a recognised degree in property sales.The salesperson’s course is part one of the four-part National Certificate in Real Estate. The salesperson’s course covers the structure of the real estate industry, real estate law, listing properties for sale, marketing properties, setting price ranges and qualifying buyers. (more…)

It took Oscar Belaiche a year to sell close to $ 500 million in real estate in his old job. In his new one, he could move that much in a week.He was the real estate executive in charge of selling the massive Prudential Insurance Co. of America portfolio of office, industrial and retail buildings. After an intense marketing process and a tight bidding war, Oxford Properties Group Inc. and GE Capital Canada Inc. bought it in July for $ 455.8 million. (more…)