Origination

Second quarter mortgage banking revenue at U.S. Bancorp, Minneapolis, was $239 million, up 20% from the first quarter's $199 million but down nearly 2% from the second quarter 2010's $243 million.

The sales pace of existing homes remained unchanged in June amid reports of cancelled contracts and tighter credit standards for mortgage applicants.

Hudson City Bancorp Inc. is looking for opportunities to increase its residential mortgage originations operations to take advantage of the upcoming drop in the conforming loan limits, its top executive said. The company reported net income of $96 million for the second quarter, down from $143 million one year prior.

Zillow completed its initial public offering, listing its common stock on the NASDAQ exchange at $20 a share.

The amount of equity America's senior citizens have in their homes continues to decline, although it is still well above what they had 11 years ago.

The top executive at a senior housing/healthcare lender says borrowers for these types of properties should be able to rely on relatively low interest rates for the foreseeable future, but the long-term outlook is less certain. It all depends on how policy makers balance concerns about inflation, indebtedness and sustainable growth scenarios.

When the Consumer Financial Protection Bureau officially opens its doors Thursday, the new agency will be ready to field complaints about credit cards – but not mortgages or servicing performance.

Flagstar Bank had $1.7 billion of warehouse commitments at the end of June, a 28% jump from the same period a year ago, and a sign that originations in the primary market might be healthier than some people anticipate.

Mortgage applications increased by almost 16% for the week ending July 15 with interest in refinancings at their highest level of the year, according to new figures compiled by the Mortgage Bankers Association.

The Goldman Sachs Group Inc. indicated its second quarter was a difficult one that included significantly lower results in mortgages, but it still was able to produce $1.85 diluted earnings per common share.