Origination

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The Federal Housing Administration endorsed $217.8 billion of 'forward' single-family loans in fiscal year 2011, down 27% from the previous year, according to new figures released by HUD.

With outsourcing and industry needs in general more focused on the servicing side of the business today, it begs the question of how third-party providers are positioning themselves to make the eventual, cyclical shift to a more origination-focused market. It appears the answer is that most are counting on modifications as the likely linchpin for the change.

Trustmark National Bank, Jackson, Miss., has set up a new mortgage lending shop in Birmingham, Ala., to serve its growing retail and wholesale customer base in the state.

The climb out of the real estate depression will be a long, slow one for all but one market sector: apartments, according to the annual Emerging Trends outlook report.

Both the chief executive officer and the chairman of the board of Freddie Mac are stepping down within the next few months, the Federal Housing Finance Agency said late Wednesday.

Flagstar Bancorp, the nation's sixth largest wholesale originator, lost just $14 million in the third quarter, a sign that it may finally be headed toward the black after years of losses.

Loan originations backed by the Federal Housing Administration fell nearly 30% in fiscal 2011, and several players in the mortgage industry now believe the agency went too far in raising premiums and tightening lending standards.

Greenlight Financial Services, Irvine, Calif., Wednesday announced that it will enter the wholesale channel and hopes to fund its first loan some time early next year.

Lender Processing Services posted net earnings of $40.5 million in the third quarter, down 49% from a year ago as increased revenue from its technology and analytics unit couldn't compensate for higher costs in its loan transaction services unit.