Origination

Mortgage technology vendor Ellie Mae on Tuesday priced its initial public offering, laying out plans to raise between $40 million and $60 million.

U.S. District Court Judge Beryl Howell who is presiding over a lawsuit aimed at preventing federal broker compensation rules from taking effect April 1 said Tuesday she will rule "shortly" on the matter but offered no clear timetable.

The drive to reform the government-sponsored enterprises is raising two questions that could fundamentally reshape the way borrowers obtain mortgages: will a revamp effectively eliminate the 30-year fixed rate mortgage, and would that be a good thing?

It's not quite a mortgage technology conference without the release of at least one loan origination system – and several upgrades.

Congressional demands for the Federal Housing Administration to improve transparency, data accuracy, and legacy technology platforms have been backed by additional resources allocated to the effort.

Home values are falling in most major U.S. cities – except the nation's capital -- and the average price in four of them are at their lowest level in 11 years, according to the newly released Standard & Poor's/Case-Shiller home price index.

Hudson City Bancorp, a top ranked mortgage lender in the Northeast, said it has completed a "restructuring" of its balance sheet that reduced its high-cost borrowings and should allow for "increased future net interest income."

On Tuesday morning a Federal judge will hear arguments from the National Association of Mortgage Brokers and the Federal Reserve concerning a new motion filed by NAMB seeking a temporary restraining order against the central bank's loan officer compensation rule.

ATLANTIC CITY, NJ—Even though investors welcomed the two recently-originated private-label MBS that have been done since the downturn, the non-government secondary market investor in general remains “in hiding,” a member of a panel on the future of the secondary market told attendees at the Regional Conference of Mortgage Bankers Associations.

If there is one lesson that any natural disaster, such as the earthquake in Japan, should teach a business owner, is that one must be prepared for anything. The reach of problems caused by the earthquake has hit this country, and I am not talking about radiation.