Origination

Recent delays in key secondary market regulations are among hurdles holding back the long-awaited return of the jumbo market, which some say is making some progress, but others think is too constricted by the current limits of secondary market outlets to reach a large scale.

Even before the government-controlled Ally Financial threw its mortgage division into Chapter 11 bankruptcy protection, rumors were circulating this spring that the “bank” end of the company would exit the warehouse lending arena.

As part of its June national housing survey, Fannie Mae found that 35% of consumers expect home values to increase over the coming 12 months.

FHA lenders originated $78.2 billion of purchase mortgages during the first eight months of the current fiscal year, down from $86.3 billion during the same period in FY 2011.

Radian is benefiting from the changing competitive environment in private mortgage insurance as two of its competitors went into run-off in the third quarter last year.

In judicial states, 6.5% of all mortgage loans are in some stage of foreclosure, compared to only 2.5% in states that don’t use the courts to conduct a foreclosure.

Finding qualified loan officers isn’t the problem—it’s finding LOs who can get licensed so they can work for a broker.

Late last week National Mortgages News reported that although mortgage employment was essentially flat in May, that loan brokerage firms have been hiring. But as we report today, a big stumbling block to richer brokerage hiring remains: finding LOs who are licensed and “ready to go.”

Todd Bettin was sentenced to over four years in prison for conspiracy to commit wire fraud in connection with a five-year scheme to divert mortgage payoff funds from clients’ who were closing on 17 Maryland properties.

THIS JUST IN: Is a new subprime lender about to emerge? I know of one industry veteran who hopes to secure financing to originate nonprime low LTV mortgages.