Origination

The Federal Agricultural Mortgage Corp. reported a decline in first-quarter profits driven largely by the early refinancing of agricultural securities.

The buyouts will lead to prepayments of 5% or more for some holders of mortgage-backed securities. The loans were originated from 2005 to 2008, the heyday of interest-only loans.

The Senate Banking Committee will renew its markup of legislation to overhaul the housing finance system on Thursday, after abruptly postponing the deliberations late last month.

Lenders and loan officers are increasingly using social media to scout for customers, raising a host of compliance concerns, from preventing unauthorized use of brands to monitoring employee communications.

Prices for single-family homes climbed in 74% of U.S. cities in the first quarter, fewer than a year earlier, as the nation’s housing rebound cools.

Successful originators are not doing anything new or different, but are using tried and true techniques when it comes to building their business.

JPMorgan Chase said it will lay off more than 150 employees in its Garden City, N.Y., mortgage division, as part of a previously announced broader downsizing.

D.R. Horton said it paid $210 million for the homebuilding operations of Crown Communities, the largest residential developer in the Atlanta area, where new-home demand is still recovering from the recession.

Affordable housing is one of the sticking points keeping the secondary mortgage market reform bill from advancing in Congress.

Mortgage originators have been slow to adopt this tool which can assist in educating potential clients about your products and services.