Origination

It's time for eggnog and yearend lists—top news stories, newsmakers, stuff like that. But what about the great mortgage rumors that got away? Here lay five stories/rumors that went nowhere:

New home sales rose in November for the third consecutive month to the highest level since April, the Census Bureau reported Friday.

KB Home's midyear decision to transition its mortgage marketing agreement to a new lender caused significant delays in the Los Angeles-based homebuilder's ability to close home sales in the last quarter of its fiscal year.

Freddie Mac purchased $38.1 billion of mortgages in November, a 12% gain from the month prior, and its best acquisition month since February, according to new figures released by the GSE.

Fitch Ratings this week downgraded its servicer rating on Ocwen Financial Corp., Atlanta, questioning its rapid expansion in servicing contracts and voicing doubts about its heavy use of offshore workers.

Edward DeMarco, the acting director of the Federal Housing Finance Agency, has one of the toughest jobs in town.

Only a couple of comments in this holiday week, but they are good ones. The first corrects some loose language in a Chicago ordinance, while the second identifies with the prevailing mood in the industry.

What would Congress do if it didn't have housing (and mortgage banking) to kick around? Who knows, really. Passing the payroll tax break extension was a good idea. It puts extra money in the pockets of potential mortgage customers who might use the cash to finance a home.

With 2011 coming to a close, we can start again in the new year with a clean slate - a brand new year with no mistakes. So let us not repeat the mishaps from 2011. Here is a summary of what not to repeat in 2012:

Add the name of EverBank Financial to the list of bidders that have been kicking the tires at MetLife Home Loans, Irving, Texas.