Origination

The PMI Group, Walnut Creek, Calif., posted a $184 million loss in the fourth quarter, compared to $242 million of red ink spilled in the same period a year earlier.

The Federal Reserve Board late last week handed down a new interpretation that places tough compensation restrictions on transactions where the borrower agrees to pay the loan officer of a mortgage brokerage firm directly.

Cleveland Selfreliance Federal Credit Union said it has converted to the XetusOne Loan Management System, using it as an online mortgage origination platform.

The Federal Reserve is giving lenders two options for determining “customary and reasonable” appraisal fees and it appears many are moving toward the more pragmatic approach instead of relying on independent surveys.

Now that I have had time to digest what we've seen and eaten on Super Bowl Sunday, there was one company whose commercial was a colossal failure in both content and in integrating its message with its online marketing efforts.

In response to embarrassing recent revelations that JPMorgan Chase & Co. failed to enforce a law protecting military members from foreclosure and high-cost credit, the nation's third largest mortgage banker announced several significant changes to its practices.

Ginnie Mae lenders securitized $35.3 billon of government guaranteed residential mortgages in January, a 5% increase from the prior month, according to new figures released by the Department of Housing and Urban Development.

Freddie Mac on Monday said next week it expects to offer to the market via a dealer syndicate its first-ever offering of structured pass through certificates backed only by multifamily mortgages with seven-year original terms.

Mortgage bankers are expected to write $322 billion worth of FHA-backed loans in the coming fiscal year, according to updated budget projections made by the Department of Housing and Urban Development.

A pickup in CMBS issuance is giving the market a much-needed liquidity boost, but underwriting standards are slipping as sponsors scramble to find enough collateral for deals, which are drawing investors looking for extra yields.