Origination

Taylor Capital Group is expanding its mortgage unit by hiring more than 60 retail mortgage professionals from Amera Mortgage.

Suzanne Hutchinson will retire at the end of the year from her post as executive vice president of the Mortgage Insurance Cos. of America.

Freddie Mac raised its estimate for 2012 originations to $1.45 trillion in its latest economic and housing market outlook, citing lower expected 30-year rates. Freddie previously had forecast that 2012 would end with a total of just $1.3 trillion in originations.

When I suggested yesterday that mortgage lenders might contemplate an origination ‘strike’ as a bargaining tool to kill overly zealous regulations the idea was to have banks and nonbanks alike participate in such an action of civil disobedience.

Technology vendor Mortgage Cadence expects to expand the reach of its origination software in the credit union sector with its pending acquisition of Prime Alliance Solutions.

The national delinquency rate continues to decline on a yearly basis with the latest figures from Lender Processing Services revealing a 9.6% drop in the amount of late mortgage payments from May 2011.

Mortgage applications decreased by just under 1% for the week ending June 15, but FHA refinancings soared.

Discover Financial Services is finally getting its feet wet in the mortgage origination business, but the credit card lender isn't jumping into the deep end anytime soon.

For community bankers, it was always a romantic notion—the idea that they could give mortgage lending short shrift and beat the big guys on commercial loans. But mortgage lending is looking pretty good to these bankers now.

Redwood Trust soon will market another new jumbo MBS deal—this one, like the others—dominated by California mortgages which comprise just over 49% of the bond.