Origination

Stonegate Mortgage, Indianapolis, is looking to help banks deal with balance sheet volatility regarding mortgages, while at the same build its servicing portfolio. So it is starting a financial institutions channel to purchase loans on both a wholesale and correspondent basis.

Genworth Financial said its U.S. mortgage insurance unit is offering a relocation product with discounted MI premiums to help credit unions expand their market and pursue business from members relocated by corporate and military employers.

First American Financial Corp. chairman emeritus and title insurance industry veteran Donald P. Kennedy has died at age 93.

The headline of today's daily 'What We're Hearing' blast sounds like junk mail that you might see in your email inbox. But rest assured, certain mortgage REITs are paying hefty dividends these days. At the top of the list is Annaly Capital Management, which has a 13.5% dividend/yield rate.

Among the next steps in the National Reverse Mortgage Lenders Association's Borrow With Confidence efforts will be a story-telling campaign, with seniors describing their experience with and benefits from the product, officials from the group said at its Eastern regional meeting in New York.

The House Financial Services Committee Tuesday approved a bill to enhance the FHA's authority to police bad lenders after rejecting an amendment that would have reduced the agency's loan guarantees.

Raj Date, the deputy director of the Consumer Financial Protection Bureau, assured financial industry representatives Tuesday that the agency is carefully weighing access to consumer credit as it finalizes the qualified mortgage rule.

Appraisals are costing bankers more money and, in some cases, business. Recent regulation has altered the fee structure and required more independence between bankers and appraisers.

Although rates have been trending downward this week, new mortgage applications fell by almost 3% for the week ending March 23, according to new figures compiled by the Mortgage Bankers Association.

Community banks and thrifts are slowly increasing their originations of non-conforming mortgages, while pulling back on making FHA loans, according to a new study from the American Bankers Association.