Origination

PHH Corp., Mt. Laurel, N.J., earned $49 million in the first quarter, up from $8 million in the same period last year, driven in part by a 77% increase in mortgage closings and a $68 million pre-tax gain on the sale of 50.1% of its appraisal business to CoreLogic.

After three consecutive months where the national commercial mortgage-backed securities delinquency rate was leveling off, the latest report from Trepp signaled the recovery is nowhere in sight.

Residential Finance Corp., Columbus, Ohio, has hired Daniel Jacobs, former 1st Metropolitan CEO, to head up its new retail branching operation, ProLending Network.

Warehouse lenders speaking at the Mortgage Bankers Association's National Secondary Market Conference in New York were bullish regarding their respective companies funding of Home Equity Conversion Mortgages.

One of the biggest questions Sue and I get from our subscribers at www.reversemortgagesuccess.com is “Please tell us what your 'best' reverse mortgage marketing strategy is?” or “If you could only do one thing to get new business what would it be?”

CRIF, the Italian financial services provider, this week continued its buying spree of credit union lending software companies with the acquisition of Cypress Software Systems.

Thanks to lower interest rates, mortgage applications increased 4% on a seasonally adjusted basis for the week ending April 29, according to new figures released by the Mortgage Bankers Association.

Investigators keep finding skeletons in the closets of companies that participated in the mortgage boom. In a case the government filed against Deutsche Bank AG on Tuesday, the “closet” part is literally true.

Pacific Union Financial LLC, Walnut Creek, Calif., has launched a new correspondent division to purchase already funded residential loans from mortgage bankers, community banks, and credit unions.

The Mortgage Bankers Association is projecting a 28% jump in purchase money originations in 2011. And even though refi originations are expected to fall off the cliff, the MBA is still looking for a $1 trillion year.