Origination

Joe Pierce doesn't hold a grudge when a farmer finds more favorable terms with a Farm Credit lender, but he isn't prepared to give up government-backed home loans as easily.

The first myth I want to address goes something like this: Sure, housing is important, but when you consider vital social issues, it's not at the top of the list. Health care, education and jobs, for example, demand more attention and resources.

While the Federal Reserve's Operation Twist might not have an immediate impact on the mortgage industry, the fact that it will keep interest rates down could have a longer-term effect on originations, said one industry observer.

Many readers are either in one-person businesses, in very small departments in companies with just a handful of employees. Still others of you are in large organizations but doing some kind of freelance work on the side. What are the ethical challenges of "flying solo" or virtually so?

Credit Suisse is making plans to possibly shut down the origination side of its commercial mortgage-backed securities business, according to a person familiar with the situation.

Over the past month two mortgage insurance firms have halted the writing of new coverage because of a lack of capital. Add that to the continued liquidation of another troubled insurer, Triad Guaranty, and you can boldly state that 38% of the MI industry is toast.

Mortgage rates are rising from their historical lows of the past few weeks.

Three years after making a big splash in mortgages and then growing its business to become the 12th largest in the U.S., insurance conglomerate MetLife is now throwing in the towel on residential finance.

JPMorgan Chase & Co. reported increases in retail and correspondent residential lending in the third quarter with pre-tax production income rising more than 70% on a sequential basis.

Do you have customers complete surveys? Do you solicit (or get unsolicited) testimonials? Do real estate agents tell you what a good job you've done? (Well, maybe I'm stretching this one a little bit.) The most powerful people on your marketing team are your past clients and real estate agents!