Origination

Housing starts in California rose 2% in April. It wasn't big, but builders in Golden State will take it.

Thrift institutions originated $26.5 billion of single-family loans in the first quarter, down 37% from the prior period, according to figures compiled by the Office of Thrift Supervision.

A significant sector of the housing market is still being driven by sales of bank-owned homes and those in some stage of foreclosure, according to a new report from Realtytrac Inc.

The coming change in the conforming loan limit will have a much larger impact on loans insured by the Federal Housing Administration than on those purchased or securitized by either Fannie Mae or Freddie Mac.

Two years ago, a friend of mine asked me if I was on Facebook and I replied in a somewhat haughty tone, "No, I'm not 16." Today, I'm on Facebook and Twitter, I Skype and use Meetup.com and amazingly, I've started my own social media consulting company called Social Brand U LLC. I have not only embraced social media, but I've become evangelistic about it. And, I've created a brand in the process.

Origination software provider Ellie Mae released a package of new services and features this week to promote loan quality and efficiency in the loan file review process for investors and loan aggregators.

The average rate for all types of residential loans tracked by Freddie Mac continued to decline this week and as of Thursday morning, a benchmark long-term rate-indicative bond yield on the secondary market hit a low not seen for several months.

State Employees' Credit Union, Raleigh, N.C. this week eliminated the common state CU practice of garnishing wages to collect on delinquent loans — including home mortgages — one of the first institutions to adopt the policy.

The Federal Housing Administration is getting tougher on paying claims for defaulted loans where it believes lenders have cut corners on the underwriting.

While investors believe they will be able to outbid first-time buyers in the "rush" to snap up houses at today's bargain-basement prices, a large majority apparently plan to use a combination of cash and credit to purchase properties as they build their inventories.