Origination

Hudson Realty Capital LLC, in partnership with the Federal Deposit Insurance Corp., has closed on the purchase of a pool of distressed Southeastern commercial real estate loans with an unpaid principal balance valued at more than $102 million.

The amount of commercial mortgage debt outstanding declined 1.3% between the second and third quarters, as there were fewer construction loans held by banks and thrifts and commercial and multifamily mortgages held in commercial mortgage-backed securities. This is according to the Mortgage Bankers Association's analysis of the Federal Reserve Board Flow of Funds data.

With the government agency that dominates the reverse mortgage space working on moves to address the increase in tax and insurance default concerns there, some players may want to keep an eye on how these affect the market for this product.

When it comes to mortgages, it appears that consumers are not comparison shoppers with 40% accepting the first loan offer made to them, according to a new survey conducted by LendingTree, the online loan exchange.

New Jersey has become the 19th state to restrict the use of private transfer fees which require a percentage of a home's sales price be paid to a private third party each time the property is sold, often for up to 99 years.

There is an opportunity for mortgage originators to connect with their customers via the social media and that is because your competition is dropping the ball on this one.

MELVILLE, NY—Formerly approved loan correspondents will not have access to nonpublic Federal Housing Administration systems, as of Jan. 1, 2011, including FHA Connection. All other lenders need to meet the increased net-worth requirement of $1 million. “That sounds quite significant and it is,” said Joe Amoroso, director of national sales for Real Estate Mortgage Network, one of the largest private wholesalers in the country. “What it’s done is separate the men from the boys in the lender category for people who want to be a true correspondent lender.”

The profitability of small mortgage banking companies jumped to $1,423 per loan in the third quarter, a 55% spike from the previous quarter, thanks to refinancings and strong demand for mortgage-backed securities, according to a new report from the Mortgage Bankers Association.

Single-family originations should total $340 billion for the fourth quarter, according to the Mortgage Bankers Association's latest estimates, which would push total originations close to $1.5 trillion for 2010.

NovaStar Financial Inc., Kansas City, Mo., is looking to turn two classes of its preferred stock into common stock; there is also an option to give a cash payment plus stock.