Origination

Buyers have purchased 425 condominium units a month in the tri-county South Florida area since the real estate boom began in 2003, according to the latest report from the Bal Harbour-based consulting firm CondoVultures.

The Small Business Administration on Tuesday officially asked the Federal Reserve to postpone the April 1 implementation date of its loan officer compensation rule, saying the central bank did not provide "sufficient" or "proper" guidance for small mortgage firms and loan brokers to comply with the new requirements.

A 'qualified residential mortgage' rule which does not include a mandate for mortgage insurance will not necessarily harm the MI industry, according to a new report from FBR Capital Markets.

Commercial real estate executives are now viewing their industry more favorably and expect slightly improved market conditions this year, according to an index compiled by the Real Estate Roundtable.

Nearly 45% of banks surveyed by the Federal Reserve increased their holdings of single-family loans in the second-half of 2010 – and half are now forecasting they will increase their holdings even more as the year progresses.

Fannie Mae has added an expanded multifamily mortgage-backed securities execution that will allow DUS Mega deals to be syndicated and managed by broker-dealers with the aim of offering them in issuance sizes similar to DUS REMICs.

Given all the trouble the mortgage broker industry has been through in the past three years, if a loan officer went up to his or her friends and told them he or she was opening up their own shop, the LO would get back a very puzzled look at best.

Technology Credit Union, San Jose, this week launched a new super jumbo product, offering borrowers a 30-year fixed rate loan on balances of up to $3 million.

To help more underwater borrowers, Senator Barbara Boxer, D-Calif., has introduced a bill that requires Fannie Mae and Freddie Mac to stop charging high fees on refinancings of guaranteed mortgages with high loan-to-value ratios.

WASHINGTON—The Mortgage Bankers Association is worried that federal regulators will set tough underwriting standards along with a large downpayment requirement in defining “qualified residential mortgages” that are exempt from pending risk retention rules.