Origination

The average cost to close a residential loan in the U.S. dropped 7% over the past year to $3,754, according to Bankrate.com’s eighth annual closing costs survey.

To date, Redwood Trust has completed six jumbo securitizations in the post financial crisis era through its Sequoia Residential loan business – with no delinquencies, according to the REIT’s new ‘Redwood Review’ report.

We’ve been hearing whispers about a Fannie Mae nonperforming loan auction for several months now. We understand the GSE has been actively telling people it could happen by yearend or early 2013.

In Origination News’ discussion with the officers of the Florida Association of Mortgage Professionals at its annual convention in Tampa, national housing correspondent Lew Sichelman asked how the changes to federal law have impacted the state’s education requirements and how conditions are in the various markets that make up this very diverse state.

The latest draft of the CFPB's origination disclosure reform rule is drawing mixed reviews, with some saying the simplification is helpful and others that it adds to an already heavy regulatory burdens.

Freddie Mac has named Charlotte Catalfo, a 28-year veteran of Principal Residential Mortgage, as interim senior vice president in charge of operations for its single-family program.

I know of two loan officers – one who worked for a bank, the other for a mid-sized nonbank – who recently gave notice and went out on their own to become mortgage brokers.

One of the biggest compliance and litigation risks for lenders involves the performance of branch managers.

Intense competition with bigger banks over commercial and industrial loans has some community bankers reconsidering how much they want to engage in a price war for such loans.

U.S. regulators said they will be giving homeowners who believe they may have been wrongfully foreclosed upon more time to get an independent review.