--------------In this Issue--------------------

***The ATA Challenges the Supreme Court

***How To Get Your SAN (subscriber authorization number) To Comply With The FTC Ruling

***The Mortgage Bankers Association (MBA) released today its Weekly Mortgage Applications Survey

***Complimentary marketing electronic books.

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*The ATA Challenges the Supreme Court

The American Teleservices Association has filed documents with the U.S. Supreme Court asking for a review of the constitutionality of the national no-call list.

Attorneys for the ATA filed a petition for writ of certiorari with the Supreme Court on May 14, according to court documents obtained by DM News. If the justices approve the writ, the court would hold a hearing on the ATA's First Amendment challenge to the no-call list.

The ATA first announced it would pursue its challenge to the Supreme Court after the U.S. 10th Circuit Court of Appeals upheld the national no-call registry in March. The Direct Marketing Association, formerly a co-plaintiff in challenging the list, ended its case at that time.

In the petition, the ATA argued that the no-call list violates free speech rights and that it unfairly exempts political and nonprofit calls. It also questions whether fees paid by telemarketers for the list represent an illegal tax on speech.

"This case is a cautionary example of what happens when federal agencies allow perceived political imperatives to override constitutional concerns," the ATA said in the opening statement of the petition.


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*How To Get Your SAN (subscriber authorization number) To Comply With The FTC Ruling

Click on the link below to register your company. Bookmark this page for future access. At the bottom of the page, click on the box that says "all new users must click here to create a profile". Read all of the information and then fill out the form at the bottom. You must fill in both the "rep email address" and the "downloader email address". You can use the same email address for both. Submit the form and proceed to the next page.

You will be asked your organization type, make sure you select "seller". You will be emailed a user ID and password (which are case sensitive). Now click on "subscribe and pay". Here is where you will select your area codes and make any necessary payments (up to five area codes are free). Once you select an area code, it will no longer appear on the list of area codes for the country. This will prevent you accidentally selecting it twice.

!link_ftc1

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*The Mortgage Bankers Association (MBA) released today its Weekly Mortgage Applications Survey

WASHINGTON, D.C. (May 26, 2004)The Mortgage Bankers Association (MBA) released today its Weekly Mortgage Applications Survey for the week ending May 21. The Market Composite Index of mortgage loan applications-a measure of mortgage loan applications for purchases and refinancing-decreased by 3.3 percent to 632.4 on a seasonally adjusted basis from 654.1 one week earlier. On an unadjusted basis, the Index decreased by 3.4 percent compared with last week and was down 59.1 percent compared with the same week one year earlier.

The MBA seasonally adjusted Purchase Index decreased by 1.0 percent to 449.8 from 454.2 the previous week. The seasonally adjusted Refinance Index decreased by 6.7 percent to 1694.9 from 1816.9 one week earlier. Other seasonally adjusted index activity included the Conventional Index, which decreased 3.2 percent to 919.1 from 949.8 the previous week. The Government Index decreased 4.0 percent to 154.0 from 160.5 the previous week.

The refinance share of mortgage activity decreased to 36.2 percent of total applications from 37.4 percent the previous week. The adjustable-rate mortgage (ARM) share of activity decreased to 34.6 percent of total applications from 35.2 percent the previous week.

The average contract interest rate for 30-year fixed-rate mortgages increased to 6.26 percent from 6.21 percent from one week earlier, with points decreasing to 1.35 from 1.39 the previous week (including the origination fee) for 80 percent loan-to-value (LTV) ratio loans.

The average contract interest rate for 15-year fixed-rate mortgages increased to 5.63 percent from 5.58 percent one week earlier, with points decreasing to 1.36 from 1.40 the previous week (including the origination fee) for 80 percent LTV loans.

The average contract interest rate for one-year ARMs increased to 3.86 percent from 3.75 percent one week earlier, with points decreasing to 0.99 from 1.02 from the previous week (including the origination fee) for 80 percent LTV loans.


**SPECIAL NOTES**

The survey covers approximately 50 percent of all U.S. retail residential mortgage originations, and has been conducted weekly since 1990. Respondents include mortgage bankers, commercial banks and thrifts. Base period and value for all indexes is March 16, 1990=100.

***Mortgage Brokers: Don't forget to order your mortgage list or mortgage leads to grab the market that needs to refinance before your competition does.

888-878-5478 (Ask for a mortgage lead sales person)

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Remember, this is very important if you want to conduct any telemarketing campaigns:

*How To Get Your SAN (subscriber authorization number) To Comply With The FTC Ruling

Click on the link below to register your company. Bookmark this page for future access. At the bottom of the page, click on the box that says "all new users must click here to create a profile". Read all of the information and then fill out the form at the bottom. You must fill in both the "rep email address" and the "downloader email address". You can use the same email address for both. Submit the form and proceed to the next page.

You will be asked your organization type, make sure you select "seller". You will be emailed a user ID and password (which are case sensitive). Now click on "subscribe and pay". Here is where you will select your area codes and make any necessary payments (up to five area codes are free). Once you select an area code, it will no longer appear on the list of area codes for the country. This will prevent you accidentally selecting it twice.

!link_ftc1

For Info Request Please Call:

888-878-5478