Origination

Subprime residential lending is in vogue again, except that none of the firms funding the loans call the product "subprime." Oh, and there’s one other catch: loan volumes are extremely small, but the profit margins are through the roof.

The home purchase application component of the Mortgage Bankers Association's Market Composite Index reached its lowest point since December 1996 during the week ended July 9.

The American Bankers Association has opened the door for more of its members to sell residential mortgages to Wells Fargo Funding under a special pricing arrangement.

Internet retail lender Total Mortgage Services, Milford, Conn., said the TMS Funding wholesale division it has formally opened up to select brokers in 17 states plans to slowly and carefully expand to all but a handful of others in this country over a period of more than a year.

Days of preparation are never wasted. Planning and preparation are two keys to success that you absolutely cannot discount.But so often we are too busy to prepare. We are too busy to plan appropriately. Instead we do a lot of wishing. Right? If that's you, today is the day to wrest yourself from that stratum of success and begin to get ready for the next level.

The time for small business owners to start preparing for the changes coming under health care reform is right now, according to a financial planner. Actions taken today could save money down the road.

I received an interesting question from reader last week and I want to share it because she made an excellent point probably without even knowing it. She asks, "Sue you have your hand in so many different projects (yes I do write, speak, and teach in addition to my own reverse origination), how do you get it all done?" She goes on to say that she has a hard time just getting the few reverse mortgage applications that she has to closing. Great question!

TIAA-CREF has undertaken an initiative to increase the availability of U.S. Hispanics/Latinos to retirement planning information, which includes the creation of a Spanish-language website.

The Federal Housing Administration's efforts to shift the burden of supervising mortgage brokers to actual funders is creating a mini-boom in demand for brokers to bring in homebuyers and refinancing customers.

The American Bankers Association has opened the door for more of its members to sell residential mortgages to Wells Fargo Funding under a special pricing arrangement.