Origination

I've lived (and originated loans) in three states over the last 10 years and an interesting thing happen one day. I got a call on my home phone from an old client. This was a client I had helped a numbers of years earlier, in another state.

Radian Guaranty's delinquent loan inventory grew by 500 loans in December, but then fell by 1,000 units during January.

The National Credit Union Association said Monday that a federal credit union may set the maturity date for modified or refinanced mortgages beyond the regulatory 40-year maturity limit, as long as the terms of the original loan were no more than 40 years.

If a condo crashes in South Florida, does anyone hear it? Apparently not, because yet another tower is planned for the tri-county area.

How much does Bank of America loathe the mortgage business? Let us count the ways: it kills its wholesale and correspondent units, trims its warehouse group down to nothing, allows its departing high-performance loan officers to leave and then starts lopping off huge chunks of its servicing portfolio.

If it weren't for a recent legal settlement with Bank of America, FHA's mortgage insurance fund would be in the red.

Caliber Funding LLC, Irving, Texas, Monday morning made it official: it has hired 300 "lending professionals" who were recently let go by MetLife Home Loans.

The Federal Housing Administration will "soon" increase its annual premium on jumbo mortgages by 25 basis points, according to government budget documents released Monday morning.

The Obama White House, in its new budget, predicts that the FHA Mutual Mortgage Insurance fund will return to health by 2015 -- but warns that the agency's book of business is vulnerable to what it calls "Black Swans."

FACTS - On Jan. 30, William Tro Goings of Sacramento, Calif., pleaded guilty in federal court to participating in a conspiracy to commit wire fraud for his role in a mortgage fraud scheme that defrauded a failed Sugar Creek, Mo. bank of more than $8.5 million.