Origination

Perhaps the future for loan brokers isn't so bleak after all. Wholesale lenders table funded almost $33 billion of loans in the third quarter, giving the channel a 9.2% market share, according to new figures compiled by National Mortgage News and the Quarterly Data Report.

Barclays Capital has a cautious outlook for both residential and commercial mortgage credit, its researchers indicated in their global outlook report Thursday.

The Senate this week passed a six-month extension of the National Flood Insurance Program and supporters are hopeful the House will act quickly to prevent any disruption in the issuance of new policies.

Thanks to a growing refinancing boom that gathered steam in the third quarter, small mortgage banking companies benefited as their profits per loan more than doubled during the period.

PHH Corp., Mt. Laurel, N.J. has priced an add-on offering of $100 million of debt, to replace the $250 million debt offering it cancelled on Dec. 2 due to market conditions.

MRN Cubed, a mortgage outsourcing and consulting firm and the parent company of e-mortgage technology vendor SigniaDocs, acquired default management workflow vendor DepotPoint.

Mortgage Guaranty Insurance Corp.'s delinquent loan inventory declined by over 4,000 loans between October and November, while the amount of primary new insurance written remained consistent for the third consecutive month.

Finding new customers and getting more business from current ones are the top two business pressures facing mortgage bankers today, according to the results of a survey taken by Comergence during the Mortgage Bankers Association's annual convention in Chicago.

The average weekly 30-year mortgage rate for the sixth week in a row is not far from record lows and pretty close to 4%, according to Freddie Mac.

Think about it - there are very few occupations where you are all things to all people.