Origination

Ellie Mae’s stock will begin trading on the New York Stock Exchange. The stock has traded on the NYSE-owned American Stock Exchange since the Pleasanton, Calif.-based mortgage technology vendor’s $45 million initial public offering in April 2011.

The Consumer Financial Protection Bureau served official notice that it is seeking comment on a range of issues—including the cost of potential litigation—and whether debt-to-income ratios should be used to determine a borrower’s “ability to repay” a residential loan.

Deloitte says that assets controlled by the shadow banking system—including asset- and mortgage-backed securities—have declined by more than 50% in the last four years, to $9.53 trillion at Dec. 31.

There are redundant quality control measures used in the third-party origination process that might be resolved if market participants could overcome compliance concerns and trust issues and agree on a neutral, secure data platform or best practices, according to a recent industry discussion.

By a voice vote, the House of Representatives passed a 60-day extension of the flood insurance program that will keep the program running through the end of July. The bill now goes to President Obama for his signature.

The Consumer Financial Protection Bureau this week decided to delay the issuance of a final "qualified mortgage" rule until after the Nov. 6 elections. The scoop was first reported by National Mortgage News on its website Thursday. This new development has prompted many loan officers and nonbank lenders to speculate that maybe (just maybe) the CFPB will delay its compensation proposals until well into next year.

Technology Credit Union is offering pre-approvals for home loans and a “quick close” guarantee for those who qualify.

The 30-year dropped three basis points to 3.75% with an average of 0.8 of a point while the 15-year slid seven basis points to 2.97% with an average of 0.7 of a point.

The 10-year Treasury yield continued to set new record lows Thursday morning due to a mix of negative economic indicators both overseas and in the domestic market.

The national mortgage fraud risk index decreased 4.3% in 1Q 2012 from the previous quarter and 3.1% from a year ago.