Originations

Recent hikes in FHA premiums appear to be causing a shift in government-backed mortgage programs.

Costco, the discount merchandise warehouse, is planning to expand its financial offerings with a test pilot for mortgages and student loans.

Lenders are no more willing now to make a home loan backed by Fannie Mae or Freddie Mac than they were six years ago, according to a Federal Reserve Board survey released Monday.

Nearly 50% of banks are not participating in the HARP 2.0 program and only 30% are actively soliciting applications, according to a Federal Reserve Board survey.

Compliance within the financial services industry impacts the entire organization and is key to the bottom line for firms currently operating in the mortgage space. Comprehensive compliance risk management strategies are required to meet compliance obligations and also protect customers, employees and shareholders.

The inventory of vacant homes for sale fell in the first quarter to the lowest level in six years, according to a new government report which helps explain why real estate agents are complaining about the tight supply of REO properties.

Industry efforts to pass legislation that would exclude originator compensation from the statutory points and fees test in the qualified mortgage rule are off to a slow start on Capitol Hill.

There was $6.7 billion of new insurance written by members of the Mortgage Insurance Cos. of America in March, up from $5.4 billion in February and $4.4 billion in March 2011.

A surge in mortgage lending drove strong profits for banks of all sizes in the first quarter, with some banks attributing the improvement to new regulations.

HomeStreet Inc., Seattle, earned $19 million in the first quarter, because of the strong performance of its growing mortgage banking unit.

For a year now the government owned Ally Financial has kept mum on the idea of throwing ResCap into bankruptcy protection but the self imposed gag order came off late Friday night, squirreled away in the folds of a new 148-page SEC filing.

Flagstar Bank ended the first quarter with $2.15 billion of warehouse lending commitments on its books, a healthy 31% increase from the year ago period.

By now, thousands of readers have viewed our coverage (both in print and online) of eWarehouseOne, the mysterious warehouse lender that appears to have collected at least $250,000 in application and good faith checks, and doesn’t have a whole lot of lines of credit to show for it. After two months of investigating the company and talking to roughly 20 sources, we’ve come to the conclusion that the man running the show is Tom Reynolds, once listed as EVP in charge of warehouse lending. The problem is this: none of the account executives hired by the company (some of whom have left) have ever met Reynolds, though they’ve spoken to him on the phone.

Almost $2.6 billion of capital flowed into publicly registered nontraded real estate investment trusts and partnerships in the first quarter, up from $2.2 billion one year prior and $1.6 billion two years prior as part of investor flight into hard assets.

Housing industry groups are pressing the Consumer Financial Protection Bureau to craft a qualified mortgage rule that shields lenders from meritless litigation and ensures access to affordable and sustainable mortgages.

HARP 2.0 refinancings are red hot in both Florida and Nevada, according to testimony by HUD secretary Shaun Donovan.

It appears the residential finance sector is about to gain another new mortgage insurance company.

It’s no secret that the mortgage industry – after hearing from its customers – is clamoring for a HARP 3.0 refi solution for underwater loans that are not guaranteed by Fannie Mae and Freddie Mac. But how do we get there?

A representative for eWarehouseOne is trying to place roughly $70 million of applications with at least two other banks.

The Obama administration, which has proposed levying a tax on the largest banks as a way to pay for a broad mortgage refinancing plan, is now in talks with members of Congress about finding an alternative source of funding.