Origination

John Dickinson may have been more eloquent when he wrote the "Liberty Song" in 1768. But David Stevens, the new president and chief executive of the Mortgage Bankers Association, emphasized the same point at the group's annual secondary market conference in New York.

Mortgage Harmony Corp., Tysons Corner, Va., announced that CMG Mortgage Insurance Co. has agreed to provide private mortgage insurance for its self-adjusting HarmonyLoan.

As the debate warms up about the future of housing finance, panelists at the Mortgage Bankers Association's annual secondary market conference were unanimous in their endorsement of the 30-year-fixed rate mortgage.

Hopefully you could relate with my article last month, “The Dentist Diaries—Part 1,” comparing my experiences with the dentists with those of our own mortgage practices. Since I had read that the only thing people dreaded more than a trip to the dentist, was applying for a mortgage, I thought it was very fitting to compare the two industries. So let’s pick up where I left off.

After falling for four straight quarters, delinquency rates on construction loans appear to have edged up slightly in the first quarter, according to preliminary estimates from Trepp LLC.

New, higher premiums on Federal Housing Administration-backed mortgages are meant to protect the government-backed program from the growing risk of losing money from loan defaults. But it will also make FHA mortgages more expensive, a key issue for homebuilders, where as many as 60% of new homebuyers use these types of loans to make their purchase.

MERSCorp Inc., parent company of the Mortgage Electronic Registration Systems, named former CitiMortgage chairman and CEO Bill Beckmann its permanent replacement for retired president and CEO R.K. Arnold.

FelCor Lodging LP, Irving, Texas, has priced a $525 million senior secured notes offering at an interest rate of 6.75%. The notes will mature in 2019.

A.M. Best Co. has affirmed the debt ratings of Genworth Financial Inc., but also maintained its negative outlook on the company, in large part due to its private mortgage insurance subsidiary.

Despite heavy refinancing volume in the fourth quarter, mortgage lenders faced operational cross currents that reduced their profits on every loan produced.