John A. Courson has been appointed president and CEO of the Mortgage Bankers Association, a press release today said.

Courson replaces Jonathan L. Kempner, who's last day was on Dec. 31.
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Revised Appraisal Code Irks Brokers, Appraisers
The National Association of Mortgage Brokers is unhappy with the revised appraisal code -- which it says won't stop crooked appraisers from fraudulently inflating fair market values. Appraisers, meanwhile, question the use of appraisal management companies and computer generated values.

Institutional Musical Chairs
Several institutions -- including Freddie Mac, SunTrust Banks Inc. and Redwood Trust Inc. -- have recently shaken up their top management. Even the primary trade group for the mortgage industry announced executive changes.

Help With FHA Refis
Financial institutions have a simpler option for becoming approved to originate FHA-insured loans. Once approved, a number of services aim to help lenders with various FHA refinance programs -- including one that several trade groups are lobbying Congress to extend.

Executives Shuffled
A new chairman has been elected by a banking trade group, while two banks have named new senior executives and a title insurance firm has restructured its management.

Lenders Testify Against Cramdowns
The Mortgage Bankers Association reiterated its opposition to cramdowns in testimony before Congress. The group warned that allowing bankruptcy judges to modify mortgages could lead to tighter standards, higher interest rates and lower loan-to-values -- even on government programs.

Explosion of Technology
This week's Mortgage Bankers Association Mortgage 95th Annual Conference and Expo in San Francisco prompted a plethora of mortgage technology news releases. Among announced enhancements were the integration of a loan origination system with a point-of-sale offering, improvements to automated appraisal technology and advancements in digital loan closings. One new credit offering increases the ability to forecast risk.

Mortgage Bankers Warn of Cramdown Consequences
The Mortgage Bankers Association has sent a letter to Congress warning that a proposal to allow bankruptcy judges the ability to modify mortgages could raise the cost of mortgages and stifle the recovery effort.

Bank Chaos Continues
The fallout from the seizure of the government sponsored housing enterprises continues -- with class action filings, more banks' disclosures of losses from their GSE holdings and a banking trade group's call for help from regulators. Meanwhile, three more banks are facing regulatory actions because of their poor capital positions, and two banks have agreed to merge.

Treasury Clarification Satisfies Bankers
The Treasury Department has moved to alleviate concerns by the American Bankers Associationabout unfair competition from money market funds under a guarantee plan unveiled last week.