Origination

The $8.8 million Class M of series 2002-CIBC5 was downgraded primarily because the New York-based ratings agency believes a former A&P grocery-anchored retail center will continue to see negative results in the future.

On July 17, an indictment was issued in New Jersey charging 11 individuals from five states a for their alleged roles in a $15 million mortgage fraud scam that used phony documents and straw buyers to make illegal profits on overbuilt condos, including a defendant who attempted to murder a witness to the scheme.

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

Lender Processing Services found that overall 7.14% of mortgages were in arrears as of June and estimates that its figures encompass 70% of the overall market.

Mortgage rates fell to yet another all-time low this week, 3.49% for a 30-year fixed-rate mortgage.

A new Mortgage Industry Standards Maintenance Organization workgroup intends to create a universal loan document identification protocol that would be based on loan-specific data and enable any entity across the lending process to use a common formula to create or recreate the unique identifier.

Stewart Information Services Corp. saw its net earnings increase 319% from 2Q11, while First American Financial Corp. had its best title margins since 2005 as it earned $73 million, more than double the $32 million in 2Q11 profits.

You might say the megabanks – for now – are sitting in the catbird seat. They have more loan applications than they know what to do with – and they have no desire whatsoever to add more staff to handle the volume, because, well, that’s what happens when you have a cartel.

EverBank Financial originated $2.7 billion of loans and leases in the second quarter, up 19% from the first quarter and 89% from the year ago.

What's a mortgage loan originator to do when he discovers that one of the trade lines in an applicant's credit report actually belongs to a relative with a very similar name?