Origination

Cardinal Financial Corp. earned $10.2 million in the second quarter, with its mortgage banking division contributing net income of $4.4 million.

Correspondent One, which aims to be a major buyer of closed mortgages from nonbank lenders and others, has launched and is now in the process of closing some of its first transactions.

We all know that the Consumer Financial Protection Bureau is in business to help the little guy (the borrower, that is) but why isn’t it taking a close look at underwriting guideline ‘overlays’ being hoisted upon the industry by the megabanks?

It’s no secret that the North Dakota economy is booming – thanks to oil drilling – but home sales are rising along with the time it takes to get an appraisal.

Stonegate Mortgage Corp. has hired Flagstar veteran Paul Wyner as senior vice president/national sales manager in charge of third-party residential lending.

Patterns in the private student-lending industry are dangerously similar to those seen in the housing market prior to its collapse, according to a new study from the Consumer Financial Protection Bureau.

American Enterprise Institute resident fellow Ed Pinto—known for his harsh views on government intervention in housing—proposes targeted modifications for severely underwater borrowers who are current.

Home improvement spending could be in double-digit growth mode by as early as next year’s first quarter, according to the Joint Center for Housing Studies of Harvard University.

On July 17, a 26-count indictment was unsealed charging Eliseo Jara Jr., Sergio Jara, Antonio Perez Marcial, Lucia Yolanda Chavez, Arlene Jeanette Jara, Candace Shantel Gonzales, Joseph Shawn Chavez Jr., Melissa Rochelle Jara and Ricardo Fabian Salinas in a mortgage fraud conspiracy. The indictment was returned on July 12 by a federal grand jury in Fresno and the defendants were arrested at their residences on July 17.

To be successful in the mortgage business, you need to remain healthy.