Origination

Will Clint Eastwood walk through the streets of Minneapolis, proclaiming how the U.S. mortgage industry is back? If you're not sure what I'm talking about, go see last weekend's Chrysler/Fiat commercial during the Super Bowl. (As an aside, I think the whole political take on that commercial has been blown way out of proportion.)

Although many megabanks have thrown their correspondent networks overboard, there's a new entrant in the sector: Impac Mortgage Holdings, Irvine, Calif., a once high flying 'alt-A' lender that survived the housing crash and rebuilt itself.

At the start of the time most people waste time conjuring-up goals and tasks they think will make a difference in their life. Sorry to be the bearer of bad news, but it's been proven time and again that most resolutions are ignored or just disappear after a few days (months for the real ambitious) of the new year.

After six straight years of bad news, a panel of economists offered a more upbeat picture of the U.S. housing market during congressional testimony Thursday.

EverBank, which has been carefully growing its mortgage business the past few years, has agreed to purchase the warehouse division of MetLife Inc., the company confirmed to National Mortgage News.

The government-owned Ally Financial has issued an offering book on Residential Capital Corp. in the hope that it can finally unload its money-losing mortgage division and take the rest of the company public, according to investment bankers familiar with the matter.

Real Matters, the Markham, Ont.-based parent of Solidifi, an appraisal management solutions company with operations on both sides of the border, has obtained C$22 million (US$22.13 million) of "growth financing" through the placement of both equity and debt.

Mortgage lenders issued $30 billion of Ginnie Mae MBS in January, up 9% from the previous month, according to new figures released Thursday morning.

EverBank, which hopes to go public this year, has agreed to buy the mortgage warehouse division of MetLife Inc., for an undisclosed sum, according to industry advisors close to the deal.

The economic tea leaves are starting to point toward a modest rebound in the new home market in 2012.