Origination

The head of the Mortgage Bankers Association is calling on his brethren at other trade groups to work together with MBA to forge coordinated policies to "reestablish a vibrant" housing finance system in the U.S.

Bank of America's residential mortgage division posted a net profit of $2.3 billion in the fourth quarter, but for the full year the unit bled almost $8.2 billion of red ink, according to earnings figures released Thursday morning.

Mitt Romney has been a key figure in the saga of the nation's financial woes, perhaps more important than any other Republican politician. But much of what he did and said in the early stages of the crisis, including about housing, has been largely forgotten.

The mortgage banking division of PNC Financial Services lost $61 million in the fourth quarter due to what the bank called “foreclosure-related expenses primarily as a result of ongoing governmental matters.”

Asset Revitalization Solutions, an Austin, Texas-based company that specializes in distressed asset investments and management, acquired $10 million in distressed loans in Florida.

The latest Freddie Mac economic forecast predicts the housing recovery will be delayed as long as there remains a large gap between buyer and seller sentiment.

Some of the first 2012 deals done through some of the agencies' more recently added multifamily programs are hitting the market and so far it looks like another strong year for these types of bonds.

Remember that 10 basis point increase in g-fees that will pay for the payroll tax break (at least until February 28)? Well, guess what? It appears that some lenders and secondary market investors are hiking their rates a lot more than 10 bps, or so we're told.

Mortgage loan application volume increased by an astounding 23.1% on a seasonally adjusted basis for the week ended Jan. 13, as interest rates on three varieties of fixed-rate loans hit all-time lows, according to the Mortgage Bankers Association. The results for the current survey include an adjustment to account for the New Year's Day holiday.

U.S. Bancorp Wednesday morning reported mortgage and retail related originations of $24.5 billion in the fourth quarter, double of what it funded in home mortgages in 3Q.