Origination

We all know the one thing that is certain in life is change. And change is coming in a big way to the reverse mortgage industry. How you prepare and how you handle change tells a lot about you and your future in the business.

Applications to refinance an existing mortgage continue to dominate the residential finance landscape, accounting for almost 83% of all new business, according to figures compiled by the Mortgage Bankers Association.

Jumbo loan production—in particular non-GSE jumbos—has increased nicely the past few quarters, but it appears that hopes for a revival in the securitization market for these mortgages may be stillborn.

PNC Financial Services Group, Inc. has renewed an agreement with Citizen Action and the Housing and Community Development Network of New Jersey that will bring nearly $1 billion in housing investment to the state’s low-income communities over the next three years.

Fannie Mae and Freddie Mac will require homeowners with "green energy" loans from municipalities to pay them off when refinancing their mortgages — unless the borrowers don't have enough equity, in which case the green liens can stay.

Rising costs for long-term care, coupled with lower home values, has resulted in a greater bite into a senior's home today than it did five years ago, an insurance agency that specializes in long-term care products said.

The outlook for commercial real estate loans that collateralize CMBS continues to improve due to increased activity in the CMBS new issue market and strong demand for distressed CRE loans in the secondary market, according to one full-service loan sale advisor for commercial debt.

MetLife Bank plans to officially launch its new warehouse lending division in the fourth quarter and is in the process of hiring between four and six additional staffers for the business.

Mortgage bankers originated $25.9 billion of Federal Housing Administration-backed mortgages in July, down nearly 2% from June, according to new figures released by the agency.

Perhaps tipping its hand on how the fair-value fight is going, a key trade group is shifting the industry's line of attack.