Origination

Most medical professionals suggest an annual checkup for their patients (speaking of patience, be patient to see where this line of reasoning takes us). Sales management and sales teams should employ the same checkup process.

Programs help qualified homeowners prevent foreclosure because of unemployment, underemployment, catastrophic medical costs, divorce and other life-changing events.

With servicing multiples as low as they’ve been over the last 18 months, the head of Edison, N.J.-based Real Estate Mortgage Network Inc. has decided to take advantage of the situation, growing its portfolio by starting a correspondent lending division. The new unit will operate out of its new Irvine, Calif. wholesale fulfillment center.

Wells Fargo & Co. has completed a review of its Realtor mortgage joint ventures and plans to slash the number of these operations down to roughly 14 by early 2013.

A recent Fannie Mae multifamily DUS REMIC that had two additional types of tranches not normally included in past deals brought in a slightly higher percentage of new investors than usual.

Impac Mortgage is entering the reverse mortgage lending business on a retail basis in the Southwest with plans to expand it later on.

The $175 million fair-lending settlement that federal authorities announced late this week with mortgage giant Wells Fargo offered both sides the chance to claim some measure of victory and move past a three-year-long investigation.

A day after Wells Fargo dropped its wholesale/broker bombshell, the smoke is starting to clear and some industry players are taking a proactive approach to what may lie ahead.

A day after Wells Fargo quit the wholesale channel, sending shock waves throughout the industry, at least one trade group official believes that eventually the bank may re-enter.

Higher repurchase demands trimmed Wells Fargo’s take from its mortgage banking unit in the second quarter, but net profit gains from residential lending and loan sales rose a stunning 200% from the same period a year ago.