Origination

The mortgage industry has taken one for the team in the way the payroll tax reduction extension has been funded, at least partially, by an increase in government housing agency guarantee fees. But in my view, once is more than enough.

Ginnie Mae is in the process of hiring at least 40 new employees which would increase the secondary market agency's staff by one-third.

The total home equity held by U.S. senior citizens increased by $46 billion in the third quarter last year, to $3.19 trillion, according to the National Reverse Mortgage Lenders Association/Risk Span Reverse Mortgage Market Index.

Over half of the mortgage originators surveyed by Hammerhouse LLC said the No. 1 issue facing them in 2012 is further oversight or regulation for the industry. The Mission Viejo, Calif.-based recruiting company released results from its second annual Survey of Originator Opinions.

The national delinquency rate remained at 8.15% at the end of December, the same as the prior month, according to Lender Processing Services' "first look" mortgage report.

Some AMCs are looking at the UAD as an opportunity to revisit quality control processes, updating them and streamlining them where possible. Those AMCs that are not taking advantage of this opportunity should be.

"Change does not roll in on the wheels of inevitability, but comes through continuous struggle. And so we must straighten our backs and work for our freedom. A man can't ride you unless your back is bent." - Martin Luther King, Jr.

The average weekly primary market rate for a 30-year mortgage in Freddie Mac's survey inched down by a basis point to 3.88% during the week ending Jan. 19, setting the bar for the lowest rate for this loan has ever had just a little bit lower.

Warehouse lending is becoming less popular with some of the big players who have provided it, but remaining and new market participants find it can be profitable if they can get comfortable with the credit.

Residential construction ended 2011 on a positive note with single-family housing starts rising in December for a third straight month at 4.4%, according to government figures released Thursday morning.