Origination

Technology allows a wholesaler to rate its loan officers using metrics that show who provides it with the most valuable loans.Paramount Residential Mortgage Group was looking for a way to make its operations more performance-based and needed a system to do the measuring.

NexBank of Dallas, a new entrant to the warehouse lending sector, last month was eager to expand its young business while a cross-town lender, Southwest Securities Bank, appeared to be cutting back-without much of an explanation why.

A visit to New American Mortgage's Facebook page reveals, among other things, a video of staffers dancing to the song "Thriller" by Michael Jackson, labeled "when the boss is gone," pictures of one of the company's new offices, birthday cake photos and pictures of families standing in front of their homes.

The California Department of Financial Institutions is urging financial institutions to review their lending policies in order to grant "appropriate latitude" to existing customers, including mortgagors, affected by the San Bruno gas leak explosion that occurred late last week.

Mortgage bankers funded $357 billion of one- to four-family loans in the second quarter, a 7% increase from 1Q, but a 39% decline from the same period a year ago.

WASHINGTON—Mortgage bankers are bracing for sweeping changes that are coming to the FHA's reverse mortgage program, which could lead to reduced loan volumes, but also a safer product.

Mortgage originators enjoyed a decent second quarter with loan production rising a respectable 7% from the first quarter, but there is fear and loathing in the industry about what lies ahead when refinancings begin to wane.

New Canaan, Conn., entrepreneur Jack Loop wants to help prospective homebuyers save up for a home, but he's having a hard time finding a bank to assist him.

Hurricane Katrina destroyed more than 200,000 homes in Louisiana alone, including more than 82,000 rental homes. All told, the storm displaced more than a million people from the Gulf Coast, with 600,000 households displaced a month after the hurricane.

Ocwen Financial Corp. said it paid $1.196 billion, or 7.4% less than originally planned, when it closed on its purchase of HomEq Servicing Corp., North Highlands, Calif., citing runoff in the company's securities and whole loan portfolio.