Origination

Sen. Bob Corker, a co-author of legislation to overhaul the mortgage finance market, forcefully defended his proposal that private capital take at least 10% of the first loss on mortgage-backed securities.

First Niagara Financial Group promoted Tom Faughnan to become senior director of its residential mortgage business.

As the credit union mortgage business transitions from a refi market to a purchase market, CUs are having to make “hard decisions” about their sales staff.

The preferred stock was issued as part of the compensation for Ocwen’s purchase of Homeward Residential Holdings from WL Ross in October.

Third-quarter earnings from builder Lennar Corp. show its mortgage-related operations were down compared to the same period last year, but its overall net earnings were up.

On a year-over-year basis, FHFA HPI is up 8.8%, but right now it is 9.6% below its peak month of April 2007.

The Federal Housing Finance Agency is launching a national campaign to notify homeowners about the benefits the Home Affordable Refinance Program can provide them.

Over the last 12 months, prices rose 12.3% and 12.4% as measured by the 10- and 20-city composites.

Seven tips for mortgage originators to use to source business from high-end home buyers.