Origination

For the past few months, large players have had a lock on refinancing high LTV and underwater loans in their GSE portfolios. In a nutshell the megabanks could manually underwrite loans they controlled under Dec. 1 revisions made to the Home Affordable Refinancing Program.

Just over 2,300 years ago, a wise father hired the greatest scholar of his age to tutor his young son in the ways of the world. Aristotle spent the next few years instructing the young man in literature, architecture, music, politics and the art of warfare. Armed with this knowledge, the student, barely in his 20s, set out to conquer the world. It took him just 11 years.

The Consumer Financial Protection Bureau is about to take another step forward in its efforts to write a series of rules to define "larger participants" in specific markets, including those in the consumer credit reporting business.

Over the last 10 years, $23.7-billion State Employees' Credit Union in Raleigh, N.C. has not had a single mortgage handed back to it by an investor due to poor underwriting.

In 1848, the discovery of gold in California proved to be one of the most significant events in U.S. history. The dream of striking it rich and reaping the benefits of copious finds held a strong allure for many adventurous risk takers. Today, investors armed with reams of data and metrics, and that same adventurous spirit, are looking at the foreclosure to rental property market with that same gleam in their eyes.

Through the first three quarters of 2011 The Golden 1 Credit Union in Sacramento, Calif. had by far the most mortgage originations of any CU in California and it is actively advertising for more.

William Mulrow on Wednesday began his tenure as chairman of the New York State Housing Finance Agency and the State of New York Mortgage Agency, two of the agencies included within New York State Homes and Community Renewal.

Mortgage originations today contain many of the same risk characteristics as found in years past, but Teresa Halleck said there is one important difference.

For those of you who have doubts about pointing your marketing efforts towards online and the social media, here are a few tidbits of data, courtesy of Experian Marketing Services' 2012 Digital Marketer: Benchmark and Trend Report.

The current vice president of the Hells Angels' Sonoma (CA) Chapter has to serve a year in jail and pay $130,000 in restitution to SunTrust Mortgage for his role in a mortgage fraud scheme.