Origination

Ally Financial Inc. disclosed Tuesday that it will incur a $270 million charge in the fourth quarter - and an overall loss for the entire firm - due to what it calls "penalties" imposed by regulators and the states tied to "foreclosure related matters."

Barry Habib, a mortgage origination marketing expert and former top producer, has joined Residential Finance Corp., Columbus, Ohio, as its chief market strategist.

If someone fell asleep in 1980 and woke up today, that person would be astounded at the progress the last three decades have brought. However, if someone fell asleep in the appraisal industry in 1980, and woke up in the appraisal industry of today, that person might barely notice a difference.

The national vacancy rate for single-family homes fell in 2011 as foreclosures slowed and sales of empty units increased by 14% over the past four quarters, according to new government figures released Tuesday morning.

Once again the S&P/Case-Shiller index has found that home prices are creeping downward. But just how bad is it? As of November 2011, average home prices across the U.S. are back to where they were in 2003 - despite the lowest interest rates in half a century.

I'm a firm believer that the "power to buy" shapes home prices, except for when you're in the middle of a nasty housing recession. Of course, low rates don't hurt either. (And then there's underwriting standards.) Meanwhile, the new S&P home price index is out and no surprise there: values are still inching downward, albeit at what looks like a slower pace.

It is no secret that a happy employee or sales person is a motivated one. But what are the things that make your staffers happy? OfficeTeam, a Menlo Park, Calif.-based temporary staffing placement firm conducted a survey which asked outside of compensation, what aspect of your job is most tied to your satisfaction?

While interest rates are low and residential inventory for sale is at an unprecedented high, it is more challenging than ever to obtain an affordable mortgage and qualify first-time homebuyers. Geographic variations on the other hand offer opportunity to leverage the demand through state- and local-level solutions that fit local market needs.

Banc of Manhattan Capital, Woodland Hills, Calif., entered the correspondent mortgage channel late last year, buying $50 million worth of product in the month of December.

The Consumer Financial Protection Bureau released its first semi-annual report to Congress Monday, outlining the steps it has taken to get the bureau off the ground in its first six months.