Origination

The Federal Housing Finance Agency reported that all Fannie Mae/Freddie Mac seller-servicers originated 243,000 Home Affordable Refinance Program loans in the second quarter, which represented 24% of total refinancing volume.

The surge in Mortgage Partnership Finance lending has increased the Topeka Federal Home Loan Bank's mortgage portfolio to $5.55 billion, up from $4.57 billion in the second quarter of 2011.

• CFPB Disclosure Redesign • Product and Investor Data • International Mortgage Tech • Universal Lending Systems

The Sarasota, Fla., office of Academy Mortgage recently hired away three loan officers from Prospect Mortgage, which is based in California.

Total Mortgage Services said it will “temporarily” moderate its wholesale lending channel after getting hit with a “significant increase” in business in the wake of other firms exiting the business.

Fewer large banks are willing to purchase their loans, so the mortgage banks are throwing themselves into the arms of Ginnie Mae.

Cole Taylor Mortgage executed on its diversification strategy in the second quarter by adding seven branches from another lender, plus by buying mortgage servicing rights.

Breakwater successfully negotiated with the lender to reduce the loan payoff and provided the loan guarantees necessary to secure new long-term financing at a 5% interest rate.

The CFPB is working on a real estate issue that gets to the core of its purpose: transparency and better disclosures of costly loan process fees.

A consultant with Potomac Partners told National Mortgage News that the "System for Award Management" seems to be running a bit better.