Origination

NorthStar Alliance recently stopped funding loans due to a lost warehouse line and is seeking new financing, a source at the company confirmed.

Representatives of Freddie Mac and Fannie Mae bandied about some big numbers during a session I recently attended at the New England Mortgage Bankers Conference in Providence, RI.

Lewis Ranieri, one of the co-inventors of the MBS, says in a new letter to Congress that a national 'rent-to-own' program could help alleviate the national foreclosure crisis.

With loan brokers afraid of getting squeezed by new compensation rules, one industry consultant sees a way they can collect reasonable origination fees and stay competitive: by getting borrowers to pay them directly.

Retirement security is a top concern among Americans and could be an important issue in the upcoming elections, a recent survey found.The poll, commissioned by Americans for Secure Retirement, found that nearly half of those surveyed found they are very concerned about being able to maintain a comfortable standard of living throughout retirement.

Mortgage application volume declined by 0.8% on a seasonally adjusted basis last week, as fewer borrowers take advantage of record low interest rates to refinance, according to new figures released by the Mortgage Bankers Association.

Mortgage bankers are making money hand-over-fist on their new originations these days, and profit margins continue to be fat thanks to a low cost of funds and the ability to heap on all sorts of fees.

Wealthbridge Mortgage, Beaverton, Ore., will close its doors and lay off staff after a deal to sell the nonbank lender fell apart.

Great Oak Lending Partners, a forward and reverse mortgage lender based in Timonium, Md., has acquired 1st Maryland Mortgage Corp., Damascus, Md. Terms of the deal were not disclosed.According to Reverse Mortgage Insight, Great Oak was ranked No. 1 in Maryland for reverse mortgage production and volume for the fiscal 2nd quarter of 2010.

Warehouse lending conditions continued to improve in the second quarter with commitment volumes rising for most players—thanks in large part to a mini-refinancing wave sweeping the nation.