Originations

After some big banks backed out of a low-income housing project in Tuscaloosa, Ala., a credit union has stepped in to help struggling first-time homeowners achieve their dreams.

CMBS loans that are at least 30 or more days late in payment or in foreclosure jumped 12 basis points month-over-month to 10.16%, surpassing the previous record-high in May.

House prices rose 1.8% in May as the CoreLogic house price index registered its third consecutive monthly increase this spring, and its new pending HPI is indicating that prices will rise another 1.4% from May to June.

EverBank Financial Corp. is buying Business Property Lending Inc. from GE Capital Real Estate North America for $2.51 billion cash.

First Guaranty Mortgage Corp. has begun rolling out 203k home rehabilitation loans to National Association of Real Estate Brokers working with clients in urban communities that have been impacted by the ongoing mortgage crisis.

For those lenders who decide not to pay the penalty under the new healthcare law, and instead provide insurance there are certain practical realities to consider.

The nomination deadline for the 2012 Mortgage Technology Awards has been extended until 12 p.m. EDT Tuesday, July 10.

David H. Stevens, the president and chief executive of the Mortgage Bankers Association, will remain at the trade group rather than departing to run SunTrust Mortgage, as he announced plans to do a month ago.

In an effort to elevate tourism as an economic tool, Virginia has named the first project to benefit from its new tourism-related financing program.

Congress has passed a five-year extension of the National Flood Insurance Program along with substantial reforms that will raise premiums to improve the financial condition of the program.

The appraisal independence requirements within the Dodd-Frank Act go a long way to shedding more light onto an issue that needs to be solved, but it doesn’t go quite far enough.

This article is the first of a series of articles on how you can develop a warrior mindset to overcome obstacles and challenges in your business. And it all begins with your mindsets, or your habits of thinking.

The Mortgage Bankers Association reported that the average profit per loan originated in the first quarter was $1,654, up from $1,093 in the fourth quarter.

The stock market soared upwards on Friday morning and that rising tide also brought up many stocks associated with the mortgage industry.

The members of the Mortgage Insurance Cos. of America wrote $8.7 billion in primary new insurance during May, compared with $7.1 billion in April and $3.9 billion for May 2011.

CitiMortgage has introduced a reduced mortgage payment program for qualifying servicemembers who have to permanently relocate and need immediate financial relief.

The cities of San Bernardino, Ontario and Fontana have passed resolutions to purchase the underwater loans of city residents and Mortgage Resolution Partners will refinance the loans.

The FHFA said that half of all borrowers who received loan modifications in the first quarter had their monthly payments reduced by over 30%, and one-third included principal forbearance.

While other major developments have gone to seed during the housing recession, Stapleton, Colo., has flourished as the new town is on track to record its third best sales year ever in 2012.

The Consumer Financial Protection Bureau is planning stronger disclosure requirements for reverse mortgages as more evidence emerges that senior citizens are using the product without fully understanding its main features and risks.