Origination

A new year brings a clean slate for many area. And for those who own a mortgage origination shop, it means the books from 2011 are closed. It is time to rededicate to running that business like a business.

When President Obama installed Richard Cordray as director of the Consumer Financial Protection Bureau, industry observers declared that a lawsuit was imminent.

In the mortgage industry, many branch managers are also the top loan originator in the office. Handling both tasks is often a juggling act, and sometimes the manager does not realize that one or more of the balls have fallen.

A recent Government Accountability Office report on appraisal oversight adds to evidence valuation problems could be persisting, according the National Association of Home Builders. The report suggests that the Appraisal Subcommittee charged with monitoring valuations has not fully been able to yet in line with its expanded role under Dodd-Frank.

The Home Lending Source, Ft. Lauderdale, Fla., has hired 30 loan officers from the MetLife Home Loans, and is talking to another 25 or so.

Two years ago Wells Fargo and Bank of America were running neck-and-neck, competing against each other to become the nation's largest home lender. But today, Wells has emerged not only as the clear victor - by far - but B of A is now a shadow of its former self in mortgage banking, falling to fourth place in loan production.

Answering complaints that appraisers are using uncomparable 'comparables' on which to base their valuations, the Appraisal Institute has published new guidance to help valuation professionals know when -- and how -- to use distressed sales in appraising real estate.

Fifth Third Bank reported that demands by Fannie Mae and Freddie Mac to repurchase bad loans have slowed, but the seller/servicer is seeing what it calls an "uptick" in file reviews by the GSEs on performing mortgages.

Some of the healthiest markets in the country for home builders are in North Carolina. But the safest place is an active-adult mecca called The Villages in Florida.

If your pipeline isn’t full, don’t blame the market. I see many loan officers that get caught up in the "Ain't it Awful Club" and more often than not, their production reflects a (hopefully, temporary) lack of motivation and passion.