Origination

Citigroup reported a 50% jump in residential mortgage originations in the third quarter along with a large writedown related to mortgage servicing rights.

Historically low interest rates sparked an increase in refinance mortgage applications that helped Wells Fargo originate $89 billion in new residential loans during the third quarter of 2011. But troubled existing loans continue to impact results, with a 61% increase in Wells Fargo's mortgage repurchase provision.

Standard & Poor's today cut its projection of U.S. CMBS issuance in 2012 to $35 billion from $45 billion. That would translate to flat growth from this year's estimate. The agency reduced its forecast thanks to three consecutive months of rising spreads, an uncertain economic outlook and a slowdown in origination by lenders.

MADISON, Wis.-Credit unions need to make even stronger efforts to ramp up mortgage loans, according to one analyst.

The question of what should be done with Fannie Mae and Freddie Mac is drawing wildly different opinions.

Kinecta FCU, Manhattan Beach, Calif., is opening of a new mortgage center in Newbury Park, Calif., to serve members in San Fernando Valley, Ventura County and Santa Barbara County residents.

Loan servicer C-III Capital Partners LLC has committed to put $10 million into commercial real estate services firm Grubb & Ellis Co., by investing in a line of credit issued earlier this year by Colony Capital LLC.

When it comes to mortgage banking, Bank of America hasn't had a good month. Over the past few weeks it has suspended cash-out refis on government loans, announced that the sale of its correspondent division had fallen through and lost one of its top retail loan officers to a competitor.

Residential lenders issued $350.3 billion of Ginnie Mae MBS in fiscal year 2011, down 15% from the previous fiscal year, according to new figures released by the Government National Mortgage Association.

The traditional fall slowdown in home sales has come to the strong Washington, D.C., market -- but the region still registered a better-than-usual September.