Origination

With official Washington bogged down in politics, the outgoing chairman of the Mortgage Bankers Association holds out little hope that the all-important high-end loan limits will be extended beyond Sept. 30 and he is concerned that, with a fragile economy, lowering limits may not be the best move.

It appears that rock bottom mortgage rates have yet to cure the housing industry's woes.

Home Federal Bancorp, Nampa, Idaho, as part of a major restructuring, will outsource its residential origination function to a third-party vendor.

Banks in Europe will try to unload roughly 15 billion euros ($20 billion) of loans secured by commercial real estate in Europe through 2012 as they comply with tighter capital regulations, according to Situs Companies, a debt advisor.

Bank of America ranked first among all warehouse providers in the second quarter with $12 billion of funding commitments, a 20% decline from a year ago, according to new figures compiled by National Mortgage News.

Did you know that Veterans Affairs loan assumptions are not restricted to veterans who have VA eligibility? Anyone can assume a VA loan if they meet the occupancy, credit and income requirements set forth by the VA.

Cascade Bancorp in Bend, Ore., has agreed to sell about $108 million of problem loans, generating $58 million in proceeds in an effort to remain well capitalized.

Boston Federal Reserve Bank president Eric Rosengren wants Fannie Mae and Freddie Mac to do more to refinance homeowners and address housing market problems.

LoopNet, a company that tracks all commercial real estate transactions nationwide including office, industrial, retail, multifamily, hotel, land, specialty properties and businesses for sale, has made changes to improve its database.

Product and pricing engine NYLX is adding to its platform a Mortgage Harmony loan product that gives borrowers at certain times the option of lowering their rates to market level.