Origination

Not everyone is cut out to be either a sales person or an entrepreneur. I speak from personal experience. I have worked in a number of positions in my life where I was involved with sales functions (but not a salesman myself) or had the opportunity to acquire a business. But I was not ready or willing to take the risk.

General Electric Co. and Capital One Financial Corp. have submitted bids for ING Group's U.S. online bank, according to combined press reports.

The National Credit Union Administration late Monday came to market with its 13th and final offering of NCUA Guaranteed Notes, selling $2.21 billion of mortgage-backed product to investors.

Despite a 35% decline in overall residential fundings in the first quarter, Fannie Mae and Freddie Mac continued to purchase refinanced, high loan-to-value loans at a decent clip under the Home Affordable Refinance Program.

Roughly 22.7% of all residential properties encumbered with a mortgage had negative equity at March 31, a slight improvement over yearend when the reading was 23.1%, according to new figures released by CoreLogic.

Six regulatory agencies late Monday afternoon extended the comment period on the controversial risk retention proposal until August 1, after intense lobbying from various factions of the mortgage industry.

Appraisal and mortgage technology vendor a la mode will soon launch a new browser-based service for lenders and appraisal management companies to manage the transmission of electronic appraisal documents to the Uniform Collateral Data Portal.

Originations of VA-guaranteed loans are showing no signs of slowing down this year, according to the Department of Veterans Affairs.

The six regulatory agencies working on the risk retention rule are considering a proposal to extend the comment period until August 1, according to industry officials.

One wholesaler has found borrower-paid compensation so far to be somewhat more common than lender-paid compensation under new compensation rules.