Origination

A group of strange bedfellows called on mortgage industry regulators to step back from a proposed rule that they say would stifle lending to all but the most well-heeled home buyers.

One chief reason mortgage application volume is slowing and home prices have yet to recover is regulatory “overreaction” in the wake of the housing bust, according to former Federal Home Loan Bank president Alex Pollock.

Shellpoint Partners LLC, a joint venture between company management and Ranieri Partners, has purchased New Penn Financial, an originator of FHA/VA and conforming loans, based in Plymouth Meeting, Pa.

It has been a mixed bag for mortgage-related stocks on Thursday morning, as the Dow Jones Industrial Average slid another 85 points, on top of a decline of 280 points on Wednesday.

The average 30-year mortgage rate’s seventh consecutive decline during the week ending June 2 brought it to new lows not seen in Freddie Mac’s survey since the week ending Dec. 2.

Mortgage technology vendor Ellie Mae registered its common stock with the Securities and Exchange Commission last month, lowering not only its initial public offering price, but the amount of money it hopes to raise in the capital markets.

Are you getting frustrated that no one is commenting on your Facebook posts? I recommend that about one-third of your posts be about business, while another one-third should be personal, with a short post (and pictures) about what you have been up to lately. And finally, one-third should be fun—such as asking personal questions that you’d like your friends, real estate agents, family and fans to answer.

Home prices rose slightly in April for the first time since the federal home buyer tax credit expired last summer, according to the CoreLogic house price index, which includes distressed sales.

State regulators this week fined Mortgage Access Corp., an affiliate of realty giant Weichert, $3 million for using unlicensed mortgage originators. The settlement covers 10 states.

A division of PennyMac Mortgage Investment Trust said it has hired a former top executive from Bank of America to run its fledgling correspondent lending division.