Origination

Citigroup, which controls the nation's fourth largest residential lender, said it will execute a 1-for-10 reverse split of its stock and reinstate its dividend. It will be the lender's first payout to shareholders since 2009.

Sales of existing single-family homes dropped almost 10% in February from the prior month and were down roughly 3% from the same period a year ago, according to new figures released by the National Association of Realtors.

The dollar amount of second lien mortgage debt continued to fall in the fourth quarter with roughly $620 billion in loans outstanding nationwide, a 9% decline over the past 12 months, according to survey figures compiled by National Mortgage News.

Existing home sales rose 3.3% in February after tumbling 28% in January on a non-seasonally adjusted basis, according to new figures released by RE/MAX.

The Warren Group’s 2010 home sales report for the state of Massachusetts revealed positive and negative news for residents living in single-family homes and condominiums.

Times are tough enough in the mortgage origination field with all of the changing regulations, guidelines, overlays, pricing, etc.But if the results of a recent MortgageMatch.com survey are to be taken at face value, one of the biggest impediments to consumer perception of the business is loan originators themselves.

Despite projections from the Mortgage Bankers Association that the industry will face a difficult 2011, LeaderOne Financial is hopeful to have success this year similar to its accomplishments in 2010. The company is forecasting a 25% increase in mortgage production for 2011.

Although consumers still have an interest in—and considering the increased difficulty of obtaining financing, a need for—one-stop shopping for their settlement needs, real estate firms offering mortgages, title insurance and other ancillary services are still looking for the magic formula that will increase their capture rates.

It didn't take long for mortgage lenders to start laying off support staff and nonproducing loan officers as interest rates rose in December and refinancing applications plummeted through the month and into the next two.

Mortgage lenders funded roughly $33.2 billion of jumbo mortgages during the fourth quarter, a handsome 57% gain from the same period a year earlier, according to survey figures compiled by National Mortgage News and the Quarterly Data Report.