Origination

A court hearing this week could force housing officials to clarify a longstanding gray area in the reverse mortgage business: When the borrower dies, can the lender foreclose on a surviving spouse not named in the loan?

Housing starts were little changed in February after declining less than previously estimated a month earlier, indicating the homebuilding industry is stabilizing after bad winter weather curbed construction.

Barry Habib sees a window for mortgage originators to capitalize on low (and possibly even lower) interest rates and a shortage of homes.

The bill released by Sens. Tim Johnson and Mike Crapo would create a reinsurance fund to recoup losses on securities, establish a common securitization platform for the secondary mortgage market and open access to the secondary market for smaller lenders through a cooperative.

Mountain America Credit Union closed its first e-signed FHA mortgages, among the very first paperless loans executed under a policy enacted in January.

• Paperless FHA
• Servicing Roundtable
• Lender Outsourcing
• Appraisal Regulations

For lenders who use the administrative exemption or who have exempt branch managers, the new regulations will impact the base salary needed to maintain exempt status once regulations develop.

In the current tough mortgage environment, some lenders are willing to take the risk of lending to foreign nationals. The loans don't conform to regulations that took effect in January and typically are held on banks' balance sheets.

Giving the client an edge if there is a bidding war on a property.

The Federal Housing Administration is struggling with a high premium structure and competition from VA and GSEs.