Originations

Community lenders this week asked lawmakers to grant some regulatory relief, arguing the Dodd-Frank Act and other supervisory actions are pushing them to the brink of extinction.

A Houston family has been sentenced to federal prison for running a multi-million dollar mortgage fraud scheme that resulted in at least 70 homeowners defaulting on their mortgage payments.

James Delbert McConville, a Fremont man, was sentenced to nearly eight years in prison and must pay more than $7 million in restitution after being convicted of conspiring to commit mail and wire fraud, federal prosecutors said.

More information from an anonymous contributor who wanted me to spread the word about how if you don’t feel good, your business will suffer.

Industry veteran Mark Korell, who four years ago joined the mortgage division of JPMorgan Chase, has left the company, according to colleagues who are close to him.

Experian has agreed to sell a trio of consumer comparison shopping sites, including mortgage lead generation site LowerMyBills.com, to Ybrant Digital, Hyderabad, India, for $175 million.

Once again the government is taking out the mortgage crisis on nonbanks, their loan officers and mortgage brokers. On Monday National Mortgage News will publish a more detailed story about the mess, but suffice to say there are many things that rankle nonbanks concerning the Consumer Financial Protection Bureau’s new mortgage compensation rule.

Despite complaints from community bankers and some lawmakers about overzealous examiners, Federal Reserve Board Chairman Ben Bernanke on Thursday defended the central bank's examination staff, saying recent analysis suggests they are acting appropriately.

The average primary market rate for a 30-year fixed-rate mortgage during the week ending May 10 set a new record low a basis point lower than the previous week’s at 3.83%.

The Consumer Financial Protection Bureau is considering the use of its special regulatory powers to blunt certain provisions in the Dodd-Frank Act that would ban consumers from paying upfront fees -- such as discount points or origination fees, when the loan officer is being compensated on the back-end by the buyer or table funder.

The National Reverse Mortgage Lenders Association has asked a federal regulator to craft a ‘qualified mortgage’ rule specifically for private reverse mortgages.

Deploying dual monitors improves the transition to paperless.

Before implementing a mortgage tech strategy, lenders and servicers need to execute a hardware strategy.

The reality is that every morning, when you wake up, you are broke until you find a way to get more business and close loans.

The Consumer Financial Protection Bureau is expected to unveil a flat free compensation proposal Wednesday night after briefing industry officials on the matter earlier in the day.

Sen. David Vitter, R-La., is trying to force the Senate to quickly pass a five-year reauthorization of the flood insurance program this week.

Industry vendor CoreLogic has decided to close its appraisal management company in Danvers, Mass.

SpringLeaf Finance Corp., which is partly controlled by the U.S. government, has entered into another round of layoffs, and may have to file for bankruptcy protection.

Some loan officers hate appraisal management companies (AMCs) and here’s why: Several megabanks control AMCs through joint ventures and are making huge fee income while paying rank and file appraisers little.

Crockett National Bank, San Angelo, Texas, has purchased a controlling interest in Legacy Mutual Mortgage, a San Antonio-based mortgage banker.