Origination

Now we’re told (but unconfirmed) that many large buyers of closed mortgages (correspondent purchasers, that is) have similar exclusionary lists, though they may call it something else.

Even though there were continued declines in mortgage interest rates to new record-low levels, total loan application volume continued to fall, this time by 2.1% on a seasonally adjusted basis for the week ended July 6.

A true bottom has formed under house prices but that assumption could be challenged later this year as the share of distressed sales once again outpaces home sales during the fall and winter months.

One effect of the current default crisis is that servicers are squeezed for fees. To compete, they need to differentiate their offerings by providing more value than their competitors. How can servicers add value?

With more activity and more investor interest in the nonperforming loan market recently, it's a good idea to know what steps should be taken to protect your interests when buying or selling these assets.

If there is anything all players in the reverse mortgage lending arena agree upon—trade group, regulator and consumer advocate—is the need for more education about this product, especially if it starts getting the market share that has been long predicted.

Here's a strategy I've been using with my coaching clients that aren't happy with their current pipeline. Ask for referrals four times a day.

Through the end of May, Wells Fargo said it had 771,757 mortgage modifications completed or in the process of getting finalized.

With more than a third of mortgage originations in the first quarter of 2012 and a strategy targeting 40% down the road, Wells Fargo has benefited from solid if not always stellar execution in mortgage production and servicing as well as from the stumbles of key competitors, leaving it well out in front of the pack.

Amalgamated Bank has started a full-service home mortgage division that will originate loans, not only on one-to-four family properties, but also condominiums and co-ops.