Origination

WASHINGTON—The Conference of State Bank Supervisors has begun development of uniform state examination procedures for the loan originator compensation rule.

The founder and part owner of appraisal management vendor AppraiserLoft resigned as CEO this week, saying he wants to pursue new business ventures in mobile technology application development.

Profits at TFS Financial Corp. in Cleveland, a top ranked mortgage funder in the state, fell sharply in the quarter that ended June 30, as a surge of new loan activity could not make up for a steep drop in noninterest income.

State and tribal governments traditionally mistrust each other. But a state agency in New Mexico is an absolute model of cooperation when it comes to housing finance on that state’s reservations.

The National Association of Independent Housing Professionals plans to set up a legal fund to help residential loan brokers defend against buyback claims being filed against them by the Federal Deposit Insurance Corp.

Veros Real Estate Solutions will host a free webinar on extracting data from PDFs, with a special emphasis on the new appraisal delivery requirements of the government-sponsored enterprises' Uniform Mortgage Data Program.

Mortgage companies cut 2,400 full-time employees from their payrolls in June, including 1,800 loan brokers, according to new government figures released Friday morning.

CoreLogic posted net income of $31.48 million for the second quarter of 2011, an increase of nearly 29% from 2Q10's net income of $24.41 million. But the higher earnings were off lower revenue, $396.4 million in 2Q11, compared to $411 million in 2Q10.

When prospecting, even if you do everything I suggest in my Smart Calling tips, point-by-point perfectly, and deliver what you feel is a tailored, value-packed opening statement, you will still get people who respond with some variation of "I'm not interested," or, "We're happy with what we're doing."

On Friday morning, the day after the share price of PMI Group tumbled by 50%, FBR Capital Markets labeled the stock a 'market perform' but said it is dropping its expectations on the nation's second largest mortgage insurer.