Origination

A new mortgage origination report developed by loan origination system vendor Ellie Mae provides insight into the books of business of the Pleasanton, Calif.-based software company’s lender clients.

William E. "Bill" Mills, Jr., co-founder and chairman of Atlanta-based public relations firm William Mills Agency, passed away on March 15. He was 78.

The total return to investors from U.S.-based REITs in the first quarter was 10.41%, underperforming the S&P 500, which had a 12.59% return for the period, according to the National Association of Real Estate Investment Trusts. Still, REITs were successful in raising money during the period, possibly setting the stage to jump into the commercial refinance market.

First American Title Insurance Co.'s national commercial services division has created an energy group, consisting of land title examiners, attorneys, project coordinators and insurance underwriters to work exclusively on energy-related real estate transactions.

Wells Fargo was both the top commercial/multifamily mortgage originator and top lender for 2011, according to the Mortgage Bankers Association.

There is considerable emphasis placed on finding solutions to rising heath care costs for those 65 and older, but not enough is placed regarding housing and providing adequate support services for this same group, a Center for Housing Policy report states.

The average rate for a 30-year fixed rate mortgage during the week ending April 5 dropped to 3.98% from 3.99%, according to Freddie Mac's survey.

Small mortgage banking companies benefited from a 32% jump in loan production from the third quarter to the fourth quarter, but profitability per loan was crimped by a slight drop in pricing in the secondary mortgage market, according to a new report by the Mortgage Bankers Association.

If there is any one thing the mortgage sales person should take away from what has happened in the last few years (and still what is happening in the loan modification segment), is that they must operate with ethics and integrity. The taint of a few taints everybody.

The credit union lobby - in the midst of a flurry of new regulatory proposals - is calling on the National Credit Union Administration for a temporary halt to new rulemaking while credit unions catch their breath.