Origination

It is no secret that it is cheaper for any business, including a mortgage originator, to keep its current customers rather than to have to spend money to acquire new ones.

Reserve studies, in which one can demonstrate there are sufficient reserves set aside for potential condominium maintenance without necessarily meeting the traditional guideline of 10%, are being described as a way to increase FHA and Fannie Mae financing for condo units.

WASHINGTON — Rep. Mike Thompson, D-Calif., and 29 other members of Congress have introduced legislation that would prevent Fannie Mae and Freddie Mac from stifling state programs that allow localities to sell bonds to finance energy-efficient ­upgrades made by ­homeowners.

The nation's home ownership rate, already down from a high of more than 69% at the height of the housing market to 67.1% today is poised to fall even further, according to California marketing consultant John Burns.

FIS, Jacksonville, Fla., has closed on a private offering of $1.1 billion of unsecured notes.

National banks and federally chartered thrifts conducting their mortgage lending operations through subsidiaries may have to restructure their operations due to the passage of the Dodd-Frank Wall Street Reform bill.

Mesirow Financial Holdings Inc. of Chicago has hired Stephen Jacobson to build and lead its credit tenant lease team.

Citigroup paid out $210 million for loan buybacks in both the first and second quarters, according to company executives.

The Federal Deposit Insurance Corp. closed on a sale of 40% equity interest in a limited liability company (LLC) created to hold assets with an unpaid principal balance of around $1.85 billion from 22 failed bank receiverships. Barclays Capital advised the FDIC on the transaction.

Most mortgage stocks are following the same market trends that have pushing the Dow Jones Industrial Average down by an average of 200 points this morning.