Origination

Responding to market demand, the Federal Housing Administration is now offering a newly modified version of the Home Equity Conversion Mortgage product that requires lower upfront premiums.

This week National Mortgage News completes its 34th year of publication and then commences its 35th. That makes it a good time to reflect both on the past, but more importantly, on the past as prologue to what is to come.

The Federal Housing Administration expects its new mortgage insurance premium structure that goes into effect Oct. 4 will increase revenues at the government insurer by $4.1 billion annually and put the fund on a stronger financial footing.

The rate-indicative 10-year Treasury yield dropped sharply Wednesday morning following investor concerns about the Federal Open Market Committee’s failure to take expected quantitative easing action to improve the economy.

Have you noticed it? There are several changes occurring in our industry as I write this piece. While it is sometimes cumbersome to stay on top of new regulations, programs, etc, I say change is good. Read on and tell me if you agree.

Mortgage applications declined 1.4% week-to-week on a seasonally adjusted basis in the latest Mortgage Bankers Association survey.

A "post-homebuyer tax credit calm." That's what they're calling it in Houston, where sales were down for the second consecutive month in August but the average price of a single-family house continued to climb.

The Treasury Department on Tuesday released a sample 4-page form that will replace mortgage disclosure requirements of the Real Estate Settlement Procedures Act and the Truth in Lending Act.

NewDay Financial became a Ginnie Mae seller/servicer a year ago, a move that is helping the Maryland-based nonbank hone in on a key market for the company: mortgages for servicemen, veterans and their families.

The Federal Reserve Board's loan officer compensation rule will "destroy" mortgage brokers and small businesses, declared Roy DeLoach, chief executive of the National Association of Mortgage Brokers.