Origination

Investors sold off their shares in Flagstar Bancorp in droves, driving the company's common stock price down by 46% on Thursday. This is in apparent reaction to the company pricing a 110 million share common stock offering at $1 per share.

Consumers have stopped using their homes as personal piggy banks with cash-out refinancings falling to their lowest level ever in the third quarter, according to figures compiled by Freddie Mac.

The PMI Group Inc., Walnut Creek, Calif., took the worst hit of the four mortgage and title insurance companies that reported third quarter earnings today, with a loss of $281 million.

The Federal Reserve Board should exercise constraint in requiring escrow accounts on certain loans, according to state banking regulators, because it could impair the ability of community banks to originate jumbo loans.

Roy DeLoach is packing it in as CEO of the struggling National Association of Mortgage Brokers, but will serve as the trade group's chief (outside) lobbyist on real estate finance issues.

Flagstar Bancorp Inc., Troy, Mich., had a loss of $23 million for the third quarter, much improved over the $298 million loss for the same period last year, aided by an increase in mortgage loan originations of 39% and a 60% increase in gain on sale income.

Yeah, times are tough and you get deals where you can get them, right? But, ask yourself this question—does it take any more work to get a $150,000 deal closed—than it takes to get a $450,000 deal closed?

The first technologies created in response to Fannie Mae’s Loan Quality Initiative are coming to the market, giving lenders the ability to access new services conveniently through loan origination systems.

The average rate for a 30-year fixed-rate mortgage during the week ending Oct. 28 rose a bit to 4.23% from 4.21% the previous week as consumer confidence increased slightly, according to Freddie Mac.

After its executives insisted during last week's earnings call that its foreclosure practices were sound, Wells Fargo & Company late Wednesday said it planned to correct and resubmit up to 55,000 improperly filed documents by mid-November.