Origination

Until a few months ago it was thought that 2012 might turn out to be a disaster year for loan production, one in which refinancings finally withered and home purchases continued to be anemic. But not anymore.

If you're looking for the next megabank to exit the mortgage sector the most likely candidate would be Ally Financial, the government owned bank holding company that controls No. 5 ranked servicer GMAC Mortgage/Residential Capital Corp.

Rep. Barney Frank, D-Mass, late this week introduced legislation that allows loan officers at mortgage brokerage firms to be more competitive when customers are shopping for a mortgage.

Private-label residential mortgage securitizations continue to be relatively scarce, but the market keeps coming up with creative ways to issue them from time-to-time that are worth noting as investors continue to hunger for yield.

There were more cures than new notices of default in February for the nation's private mortgage insurers, continuing a trend of recent years, according to data compiled from members of the Mortgage Insurance Cos. of America.

A pilot program can be devised to show principal reduction is a cost-effective way to keep underwater Fannie Mae and Freddie Mac borrowers in their homes and prevent strategic defaults, according to a new report by a research group.

American Realty Capital Trust Inc., New York, has withdrawn its registration statement connected with a possible secondary offering of the company's common stock, stating it was happy with the results of a tender offer to repurchase existing shares.

ICON Residential, Irvine, Calif., has hired MetLife veteran James Matarazzo as area sales manager for wholesale, covering the Southeast.

A New York-based real estate fund manager that currently handles more than $2 billion of assets has expanded its business operations by opening new offices in Fort Myers, Fla.

So, HARP 2.0 is going to be the program that finally helps millions of current but underwater Americans refinance their GSE loans? Last week National Mortgage News first reported about some of the fat profits being earned by the nation's megabanks on the 'new and improved' program.