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LOCAL EDITION ORIGINATION CALIFORNIA // New American Funding has a reason to celebrate the end of summer, thanks to a recent honor bestowed on the company by Top Agent Magazine. The publication named New American's managing director, Patty Arvielo, to its annual roster of Top California Mortgage Vendors. After nearly three decades in the mortgage industry, Arvielo and her husband founded New American in 2003. In her leadership role for the company, Arvielo is responsible for managing New American's operations, sales, and 550-plus employees in seven branches across the U.S. Additionally, Arvielo continues to perform as a thriving originator, generating between $3 million and $5 million in home loans on a monthly basis. Arvielo is also a member of the National Association of Hispanic Real Estate Professionals, and she serves on the Mortgage Bankers Association's risk management committee. "Our business is volatile, and this keeps me in touch with the street. We have 250 loan officers, and at any given moment, I know exactly how they feel," noted Arvielo in a recent release from New American. First-Time Buyers Booming Across the Pond THE UNITED KINGDOM IS CELEBRATING MORE THAN THE SUCCESSFUL CONCLUSION OF THE 2012 OLYMPIC GAMES, AS FIRST-TIME BORROWERS FLOCK TO THE MARKET. UNITED KINGDOM // Though the United Kingdom is currently in the spotlight as host for the 2012 Olympic Games, British lenders have their own reason to celebrate this summer, following the release of a study that shows a significant uptick in first-time homebuyers. The Council of Mortgage Lenders in Manchester, England, is reporting that the number of first-time mortgage loan re- cipients in the country is up 22 percent year-over-year. Additionally, the total number to part with their home once they secure their first property, meaning that the few affordable flats, apartments, and houses are in high demand," the Council of Mortgage Lenders said in an official statement regarding its recent findings. "Fewer people are willing Atlanta's Federal Home Loan Bank Reports Rising Income THE SOUTHERN BANK HAS ANNOUNCED A $22 MILLION RISE IN INCOME DURING THE SECOND QUARTER. of first-time homebuyers in the U.K. rose by 23 percent between 2011 and 2012. However, the Council of Mortgage Lenders also noted that the number of first-time sellers is declining, generating less inventory and creating lower affordability levels due to heavy competition among those seeking to purchase flats in lower price ranges. GEORGIA // The Federal Home Loan Bank of Atlanta, a fed- eral bank aimed at providing affordable residential mortgages, recorded increasing income and an increasing annualized return on equity in the second quarter of 2012, according to information the bank released to the public during August. The bank released highlights equity in the second quarter was calculated at 3.76 percent, up from 2.01 in the second quarter of 2011. The spread to average three- The bank's annualized return on creased $5.8 billion over the first half of this year. The 4.65 percent decline brought the assets to a total of $119.4 billion at the end of the second quarter of this year. Capital stock decreased over month LIBOR increased over the quarter to 329 basis points, up from 175 basis points a year ago. The bank's assets have de- the same period, falling from $5.7 billion at the end of 2011 to $5 billion at the end of the second quarter of 2012. The bank's retained earnings balance increased 7.2 percent over the first half of the year, arriving at $1.3 billion at the end of June. As of the end of June, the Federal Home Loan Bank of Atlanta held $1.42 billion in mortgage loans in its portfolio. This is down from $1.63 billion recorded at the end of 2011. One of 12 similar banks, the from the second quarter in an unaudited release, reporting a net income of $60 million for the quarter, up $22 million from the same quarter last year. Federal Home Loan Bank of Atlanta serves commercial banks, credit unions, savings institu- tions, and community develop- ment institutions in Alabama, Florida, Georgia, Maryland, North Carolina, South Carolina, Virginia, and the District of Columbia. THE M REPORT | 47 ORIGINATION SERVICING ANALYTICS SECONDARY MARKET