Origination

WASHINGTON -- The Federal Housing Administration is changing the way it monitors the loan performance of its largest lenders as part of a rule to clarify and codify its indemnification practices.

The serious delinquency rate on the Federal Housing Administration's $1 trillion single-family loan portfolio edged closer to 10% in December as the pace of originations slowed in the fourth quarter.

Raising guarantee fees on government-backed loans again would make a "bad situation worse," according to three industry groups that are lobbying elected officials to find new ways of funding a 10-month extension of the payroll tax holiday.

Dynex Capital Inc., a real estate investment trust that buys agency and non-agency, residential and commercial mortgage-backed securities, has priced its 12.5 million share common stock offering at $9.12 per share, for gross proceeds of $114 million.

Companies have increasingly become reliant on bonuses to provide a portion of compensation to employees. Unfortunately, the use (or misuse) of a "bonus" often creates problems for employers.

Fannie Mae's latest housing forecast is in, and it predicts a stagnant mortgage market for the next two years, at about $1 trillion in originations for each of 2012 and 2013. Not what industry officials want to hear, especially after five rocky years starting in 2007.

Residential mortgages originated over the past two years are "among the best quality originations" on record, according to a new report from Lender Processing Services.

Data provider CoreLogic has released an enhanced version of its RiskModel, which is a commercial analytics application utilized by the major banks and regulators to project future RMBS prepayments, defaults, losses and cash flows.

RiskFinder Distress enables users to track and analyze key distress events throughout the life cycle of a loan. This computer product provides investors and lenders the information needed to evaluate risk, determine the impact of distress sales on loss severity estimates, drive loss mitigation strategies and identify markets that are starting to recover.

Kinecta Federal Credit Union, Manhattan Beach, Calif., posted a $30.6 million loss for 2011, citing problems with its mortgage business.