Origination

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.

Servicing is rapidly deconsolidating as the top five no longer control more than half the market, while originations, which were consolidating after the crunch as tens of thousands left the mortgage broker business, have at least ceased consolidating.

The Consumer Financial Protection Bureau has decided to delay the issuance of a final ‘Qualified Mortgage’ rule until after the November 6 elections, industry officials told National Mortgage News.

Picking a new loan origination system is as much about the bells and whistles that it offers as it is the realization that your company for all intents and purposes is marrying its future to the vendor chosen.