Origination

JPM’s improved performance is tied to an increase in origination volumes and a decline in nonaccrual loans. In particular, the bank stressed that its retail/consumer mortgage volume hit a new record: $26.1 billion.

This is the latest in a series of items from a contributor who wishes to remain anonymous. His point is that to be successful in the mortgage business, you need to remain healthy.

A federal judge sentenced Scott Eric Perry to 18 months in prison on false statement charges related to an almost $750,000 mortgage fraud scheme in the Birmingham area.

New York Mortgage Trust Inc. has priced a 4.5 million share offering of its common stock; it was originally announced at 3.75 million shares.

Eighteen months ago National Mortgages News began hearing rumors that Wells Fargo was going to toss its wholesale lending network overboard. The bank denied it and in the ensuing quarters remained among the top ranked table funders in the nation, according to the Quarterly Data Report.

Wells Fargo is calling it quits on wholesale lending, dealing yet another devastating blow to this struggling origination channel.

The delinquent loan inventory at Mortgage Guaranty Insurance Corp. fell by less than 1,000 loans during June, as there were 154,973 loans in the inventory at the start of the month and MGIC received 11,200 new notices of delinquency in June.

Freddie Mac’s primary market survey shows the average 30-year FRM rate fell to 3.56% during the week ending July 12 from its previous record low of 3.62% last week.

At a "homeownership rally" in Tampa, the NAHB, with several co-sponsors, collected signatures on petitions calling for politicians to solve the foreclosure crisis, guarantee creditworthy homebuyers and small business the opportunity to obtain loans and protect the mortgage interest deduction.

Last summer rumors were spreading that a private equity firm had amassed $1 billion in cash and was eyeing investments in mortgage banking firms. A year later it appears that no such deals were struck by the unnamed fund, but that hasn’t stopped the talk about PE firms still looking at the sector.