Origination

Wells Fargo is already contacting borrowers who might be eligible for a principal reduction as required under the $25 billion robo-signing settlement with state and federal law enforcement agencies.

In the old days every major Wall Street house and mega-lender had a whole loan trading desk. Some survived and some folded. Some continue to concentrate on CRA eligible loans, while others are actively trading nonperforming mortgages.

Residential Finance Corp., a Columbus, Ohio-based mortgage lender which last year added a retail branching business to its call center operation, has been so successful in that transition that it is moving the Charlotte, N.C.-based operations center for that unit into a space more than four times larger.

Richard Cordray, director of the Consumer Financial Protection Bureau, told a group of business journalists Friday that he is looking forward to being held accountable by them. Moments later, he was defending the agency's power.

An AMC launched a new software that was developed on a platform as a service provided by customer relationship management technology provider Salesforce.com.

The struggling housing market needs to look to every possible financing source. So, how are housing bonds doing? According to our sister publication, The Bond Buyer, housing bonds were off last year. But in a small victory, they were not off as much as the entire market.

The growth of social media tools such as Facebook, Twitter and LinkedIn has aided many mortgage originators in their ability to communicate with their customers. But for the companies they work for, these tools could be a compliance nightmare.

The definition of perfectionism is "a personal standard, attitude, or philosophy that demands perfection and rejects anything less." That definition sounds like a personality characteristic that could help every loan professional succeed. But what if being a perfectionist could actual hinder your success?

On March 7, U.S. District Judge Neil V. Wake sentenced Paige Kinney, aka Jamielee Miller, to 15 years in prison. Kinney had previously pleaded guilty to various charges related to a mortgage fraud scheme and to charges of bankruptcy fraud, wire fraud, mail fraud, and bank fraud in two separate indictments.

If it's springtime it's time for one of the things I anticipate the most in the mortgage calendar.