Origination

A consensus is forming among consumer and housing groups that the 'Qualified Mortgage' rule should encompass a large chunk of conventional mortgages that are being written today.

The great Charlie "Tremendous" Jones is very well known for this quote: "You will be the same person in five years as you are today except for the people you meet and the books you read." Because I am a voracious reader, I have always focused more on the "reading" portion of this quote.

A Federal Reserve rule has sown widespread confusion about the way lenders pay housing appraisers, creating turmoil in an industry already burdened by expensive middlemen, falling home prices and diminished ranks.

Consumers Credit Union, Kalamazoo, Mich., is introducing a program offering home buyer assistance grants of up to $7,500 for qualifying first-time buyers.

U.S. Bancorp saw its mortgage banking revenue more than double in the first quarter, originating roughly $19 billion of residential loans, according to figures released Tuesday.

Lenders often pressure title agents to reduce their fees when other items disclosed on the HUD 'Good Faith Estimate' form exceed the allowed tolerances, according to new research conducted by the American Land Title Association.

For Residential Capital Corp. the shinola hit the fan on Tuesday. Early this morning ResCap filed a notice with the SEC saying it missed a scheduled payment on its debt Tuesday, laying the ground work for an eventual default - that is, if the payment is not made up within 30 days.

The residential mortgage division of Ally Financial Inc. missed a scheduled payment on its debt Tuesday, laying the ground work for an eventual default if the payment is not made up quickly.

Nearly three out of every four loan applications taken over the Mortgage Marvel on-loan shopping website last year were for refinancing.

Fact: Our industry can be a bit stressful. Which is why I love these two ideas.