Origination

WASHINGTON—The latest Federal Housing Administration data shows the mortgage insurer had endorsed nearly 100 of the new HECM Savers by the end of December. That appears to be a slow three-month start for the HECM Saver, which some view as the future of the reverse mortgage industry. But industry officials insist the FHA monthly reports are a lagging indicator of actual originations.

Our industry is going thru some major changes. Just when you thought you had seen it all we are now faced with some additional changes related to loan officer compensation. To me it feels as if we have been kicked, beaten up and are now being spit on while we are lying on the ground.

Goldman Sachs is once again entertaining bids on its subprime servicing operation, Litton Loan Servicing, Houston, and has approached a handful of bidders about making an offer, according to industry officials.

The Department of Housing and Urban Development is taking an enforcement action against what it calls a "large" lender that forced title agents to cover certain settlement costs that exceeded the amounts initially disclosed on the good faith estimate form.

If the benchmark 10-year Treasury is any indication, mortgage rates may be heading down again.

Eighteen short months ago it appeared that warehouse credit was drying up with nonbanks paying dearly for lines—if they could even find one.

A new estimate by the Treasury Department shows the bailout of Fannie Mae and Freddie Mac will cost taxpayers an additional $73 billion through 2021.

Pentagon Federal Credit Union of Virginia, and North Island Credit Union, San Diego, this week signed a correspondent contract under which North Island will offer residential loans originated by the PenFed, one of the largest CU players in mortgage banking.

Commercial and multifamily mortgage loan volume increased in between 2009 and 2010, with preliminary data from the Mortgage Bankers Association putting last year’s volume at $110 billion.

In the neighborhood I live in, the bagel business is highly competitive. There are six stores that specialize in the product in my zip code and the adjoining one.