Originations

Redwood Trust Inc., the nation’s only active securitizer of jumbo residential loans, posted stellar earnings of $30 million in the first quarter, a 66% jump from the same period a year ago.

Nonbank trade groups are calling on the Consumer Financial Protection Bureau to narrow the definitions it will use to determine which nonbanks will be subject to federal supervision.

In February and January of this year mortgage firms hired 5,500 workers. That’s good news for the industry and shows that residential finance is on the rise again after several rough years of dealing with record delinquencies, sagging home values, tougher regulations, and the general perception that “renting is good.”

Mortgage companies added 2,800 full-time employees to their payrolls in March after hiring 2,700 in February, according to government figures released Friday morning.

When MetLife Bank NA jettisoned its mortgage subsidiary back in January most of the firm’s loan officers moved to Wells Fargo and other banks. For the LOs affected, moving to a nonbank lender wasn’t a practical option.

When MetLife Bank NA jettisoned its mortgage subsidiary back in January most of the firm’s loan officers moved to Wells Fargo and other banks. For the LOs affected, moving to a nonbank lender wasn’t a practical option.

Mark Goldhaber, the government affairs chief for Genworth Financial, announced his retirement from the firm after 24 years, and immediately launched a new consulting business, Goldhaber Policy Services.

On top of the regulations imposed by the CFPB, by Aug. 13, all mortgage banks will need to become compliant with Federal Anti-Money Laundering ("AML") regulations. "FinCEN," the Financial Crimes Enforcement Network, created through the Patriot Act in response to the Sept. 11, 2011 attacks, requires lenders (including non-depository institutions) to comply with AML regulations.

Nonbank trade groups are calling on the Consumer Financial Protection Bureau to narrow the definitions it will use to determine which nonbanks will be subject to federal supervision.

Davis Henderson, the Canadian technology company that acquired online point of sale vendor Mortgagebot for a staggering $232 million last year, completed the acquisition of loan origination system vendor Avista Solutions for $40 million, the company announced Thursday.

Going paperless makes sense because it cuts costs and grows business.

Ellie Mae nearly doubled its revenue in the first quarter of 2012, turning net income of $3.6 million, compared to a net loss of $800,000 in the year-over-year quarter.

Quicken Loans Inc. plans to increase staffing at its Cleveland Web Center by at least 25%, as the company will add 100 new employees to the more than 300 already working at the location.

Carrington Mortgage Services promoted Ray Brousseau to executive vice president of mortgage lending, where he will oversee its retail and wholesale origination business.

PennyMac Mortgage Investment Trust earned $19.1 million in the first quarter, a slight decline from the prior period.

Average rates for fixed-rate mortgages dropped to new lows in Freddie Mac’s latest weekly primary market survey.

It’s not easy being president. Just ask George W. Bush or Jimmy Carter. As for the current inhabitant of the White House, he was a bit late to the game when it came to tackling the housing and mortgage crisis. He wants to fix the housing/mortgage mess and he controls (sort of) three entities that can aid in that recovery: Fannie Mae, Freddie Mac and HUD/FHA

John Robbins, the former chairman of the Mortgage Bankers Association, has yet another new mortgage banking venture up and running.

Nearly three years after returning to banking and mortgages, Jay Sidhu is preparing to take his latest venture to the next level.

House Republicans are wading back into the debate over whether to allow principal reductions on Fannie Mae and Freddie Mac mortgages.