Origination

There are a few maxims we have all heard over the years regarding customer retention, including that it is cheaper to keep a current client than it is to have to find a new one.

Bensalem, Pa.-based ISGN provides outsourced services for mortgage originators and servicers, and as such its staff needs to meet the same licensing and training requirements that the in-house staff at the companies which hire it need to meet, one of its top executives noted.

Manufactured housing is a key source of quality affordable housing for 19 million Americans. Our greatest attribute is delivering quality and value to consumers.

When word leaks out that your company is for sale top producers – the smart ones at least – start weighing their options. Readers of this column and the National Mortgage News website have been kept abreast of all the LOs walking out the door at Bank of America.

Senator David Vitter, R-La., late this week introduced legislation that would pressure the Federal Housing Administration to recapitalize its single-family mortgage insurance fund in two years.

California home sales rose 2.1% in November on a sequential basis, and were up 2.3% compared to the same month a year ago, according to the state's premier Realtor group.

Friday morning, the yield on the benchmark 10-year Treasury fell to lows not seen in the last couple of months, a sign that mortgage rates will stay low.

O2 Funding, Foothill Ranch, Calif., late this week closed its East Coast mortgage production operation, electing to concentrate on West coast lending, according to industry officials familiar with the matter.

Fannie Mae's latest multifamily DUS REMIC priced under its guaranteed multifamily structures program included some exceptionally large orders - and high demand for a yearend auction.

Perhaps, the National Association of Mortgage Brokers should license the Aretha Franklin song "Respect." As most industry professionals know, brokers have taken their fair share of blame for the mortgage/housing collapse while retail LOs at many shops have escaped scott free.