Origination

We produce customer service training movies for a living. As you might imagine, many of the topics covered in our products are born as the result of actual situations that have happened to people on our development team. In that spirit, here are some service-related topics I’ve been thinking about: • Every time I leave home, it’s a visit to our research and development lab.

WASHINGTON—The Government National Mortgage Association expects the increase in its minimum net-worth requirement to $2.5 million will have a limited impact on active MBS issuers.Currently, there are roughly 300 approved issuers of Ginnie Mae mortgage-backed securities, but only 200 or so are considered active.

If the Department of Housing and Urban Development extends RESPA's reach to warehouse lending, it would severely limit the availability of funds for mortgage lending and hurt the housing recovery, according to three industry groups.

Newtek Business Services Inc. has closed on the sale of $23 million of non-guaranteed portions of SBA small business loans into a securitization trust.

Domestic real estate investment trusts may be close to fully priced, according to Principal Real Estate Investors’ 2011 commercial real estate outlook report.

PrimeSource Mortgage Inc., Roswell, NM, as part of an expansion plan has received a license to do business in Colorado.

In the wake of an internal consolidation, Fitch has affirmed Bank of America NA’s primary residential mortgage servicer rating for prime-credit loans, but downgraded slightly its primary servicer ratings for alternative-A credit loans and home equity lines of credit.

The fight to prevent and end homelessness is waged and won at the local level. And 2010 has been a watershed year in that fight. As always, this Mayors Survey report is not only helping us understand the state of homelessness in our communities, but also how they are responding.

Who is your competitor? There are three types of competitors (in the mortgage industry)—those within your company because you compare yourself to dollar amounts and closed deals.

Once a lender acquires the technology to accept Web-based mortgage applications, putting that technology to widespread use is the next step.Cutting out the step of collecting a paper application saves lenders time and money. Establishing an online channel involves upgrading websites to add the functionality or connecting to an outside provider—typically a website that’s private-labeled with the lender’s logos and integrates with its main website.