Origination

As the Federal Reserve Board and Office of the Comptroller of the Currency take over supervision of thrifts and their holding companies, S&Ls have grown increasingly scared about a possible crackdown on their business.

Mortgage bankers increased their jumbo loan production by almost 60% in the second quarter, according to a sample of lending figures compiled by National Mortgage News.

Commercial and saving banks originated $133.8 billion of single-family loans using the retail channel in the second quarter, a 10% increase from the prior period, according to new figures released by the Federal Deposit Insurance Corp.

While questions about the rights of commercial mortgage-backed securities investors in bankruptcy cases and other risks persist, there are offsetting trends that continue to drive the securitized commercial mortgage market toward a comeback, according to Mark Edelstein, chairman of Morrison & Foerster's real estate finance group.

WASHINGTON—After months of silence, residential lenders have finally received some good news from the Rural Housing Service.

Home prices rose 4.4% in the second quarter on a sequential basis, erasing a 2.8% decline in the first quarter, according to the Standard & Poor's/Case-Shiller house price index released Tuesday morning.

San Antonio Federal Credit Union of Texas has acquired Mountainside Financial, the largest broker for mobile and manufactured home lending in the U.S.

Neil Kornswiet, an executive and attorney with deep roots in the subprime industry, has been hired by Pacific Mercantile Bancorp, Costa Mesa, to manage its residential mortgage division.

Velocity Commercial Capital Inc. hopes to raise $175 million through an initial public offering of shares, using the proceeds to originate or acquire small-balance commercial mortgages.

Allied Home Mortgage Capital Corp., Houston, which recently settled with HUD concerning alleged branch violations, has appointed two state managers to act as compliance auditors for the company.