ADVISORY/Experts Available to Discuss Increased Mortgage Demand.Business Editors ADVISORY... --(BUSINESS WIRE)--Nov. 21, 2002 TOPIC: The Mortgage Bankers Association of America saw an increase in mortgage requests for the week ending Nov. 15, according to an article by Reuters. Mortgage requests were up 21% from the previous week. Experts say mortgage demand, especially for refinancing, shows that homeowners are shedding their debt or possibly borrowing against the values of their homes in order to spend on goods and services. EXPERTS: ExpertSource can offer several highly qualified experts to comment on this story: Richard C. West, a 29-year veteran of the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. industry, serves as senior vice president for Union Bank of California's residential lending division. Based in San Diego, he manages a team of 140 that provides a wide array of mortgage products for consumers in California, Oregon and Washington. During his 11 years in this role, he has overseen a ten-fold increase in loan production. Prior to joining UBOC UBOC Union Bank of California , he was a regional vice president for Imperial Savings and Loan savings and loan n. a banking and lending institution, chartered either by a state or the Federal government. Savings and loans only make loans secured by real property from deposits, upon which they pay interest slightly higher than that paid by most banks. , Inc., responsible for construction, industrial, commercial and residential real estate loans. He serves on the board of directors for San Diego State University's Alumni Association and also serves as a member of Leadership for Environment and Development (LEAD) in San Diego. PR: Kathryn Madden, 415-765-2617, kathryn.madden@uboc.com Professor Karl Case, of Wellesley College, is a recognized national expert on real estate, housing, public finance, real estate markets and prices. He has authored several studies that attempt to isolate the causes and consequences of boom and bust In economics, the term boom and bust refers to the movement of an economy through economic cycles. The Boom-Bust economic cycle According to most economists, an economic boom is typically characterized by an increased level of economic output (GDP), a corresponding cycles and their relationship to regional economic performance. A visiting scholar at the Federal Reserve Bank of Boston The Federal Reserve Bank of Boston is responsible for the First District of the Federal Reserve, which covers Connecticut (excluding Fairfield County), Massachusetts, Maine, New Hampshire, Rhode Island and Vermont. It is headquartered in Boston, Massachusetts. and a partner in the real estate research firm of Case Shiller Weiss Inc., he also serves as a member of the boards of directors of the Mortgage Guaranty Insurance Corp. (MGIC MGIC Mortgage Guaranty Insurance Company MGIC Montana Geographic Information Council ), Century Bank, The Lincoln Institute of Land Policy The Lincoln Institute of Land Policy is an American Non-profit organization educational institution established in 1974 to improve public knowledge and debate in regards to land policy and land-related taxation. and the New England Economic Project. Before coming to Wellesley, he directed Harvard University's undergraduate program in economics. PR: Arlie Corday, 781-283-3321, acorday@wellesley.edu Professor Anthony Sanders, of Ohio State University Ohio State University, main campus at Columbus; land-grant and state supported; coeducational; chartered 1870, opened 1873 as Ohio Agricultural and Mechanical College, renamed 1878. There are also campuses at Lima, Mansfield, Marion, and Newark. , is an expert regarding economics, finance, real estate and the mortgage market. 614-688-8609 ExpertSource cannot guarantee the immediate availability of these experts or their familiarity with this specific issue. ExpertSource provides academic and industry experts to the media at no charge. Journalists are encouraged to submit queries to ExpertSource when seeking experts on specific subjects. An online registration form is available at http://www.businesswire.com/ifmd/index.html. |
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