Origination

The U.S. homeownership rate fell to 65.1% in 2010, a 1.1% decline over the past decade and the largest drop on record since the Great Depression, according to new figures compiled by the U.S. Census Bureau.

The likely dominant product in a mortgage market without a government-backed guarantee will be a three- to five-year adjustable rate loan with a prepayment penalty, according to one industry official speaking at the Mortgage Bankers Association's annual convention in Chicago.

David Findel, the former CEO of Worldwide Financial Resources, has been sentenced to 63 months in prison for leading an $11 million fraudulent loan scheme.

In the spirit of what he called "participatory regulation," the de facto head of the Consumer Financial Protection Bureau invited the Mortgage Bankers Association to suggest which areas of housing finance need his agency's immediate attention.

Genpact Ltd., Chicago, said Monday it has acquired High Performance Partners and its Quantum Mortgage Technology platform for an undisclosed amount.

Five bad years seem enough for the mortgage industry to be down in the basement. What will it take for the business to start to turn the cycle next year?

Cascade Bancorp in Bend, Ore., has hired former Fifth Third Bancorp executive Terry Zink to become its chief executive.

Bank of Idaho said that while gathering statistics on online mortgage applications can be challenging it has found meeting the challenge has been worthwhile.

Central-North Louisiana branch owner Louise Thaxton is one of the top originators at Fairway Independent Mortgage Corp., Sun Prairie, Wis., and to hear her tell it, she could not have done it alone or without the many people who both depend on her and support her.

The mortgage origination business continues to be in flux as industry participants continue to adopt to both new rules and regulations and volatile market conditions.