Originations

As depositories continue to balance the need for conserving resources with expanding their presence with branch locations, some technologists believe that video conferencing would likely become a bigger trend for mortgage originators.

Rumors are starting to surface that if and when a 'HARP 3.0' program is unveiled it will include non-GSE loans. As one commenter told us, "There are a lot of Alt-A loans that look just like GSE loans, but went to private investors. Why should they be punished because their loan was sold to the wrong investor?"

JPMorgan Chase and Wells Fargo & Co. each reclassified more than $1 billion of mortgages as nonperforming loans at the urging of regulators in the first quarter - even though the loans are still in good shape, their executives said.

Citigroup, which exited the wholesale channel a few months back, funded $14.3 billion of home mortgages in the first quarter, a steep decline from the prior period.

It seems strange how fast things have changed for businesses in the online era. In 1998, a romantic comedy featuring Tom Hanks and Meg Ryan called "You've Got Mail" had the message that big businesses like chain bookstores are putting their independently-owned competition out of business (a message that could have been about dozens of other industries as well).

With profit margins on harp 2.0 refinancings sky high, Wells Fargo & Co. has been putting caps on the loan-to-value ratio it will accept from third-party lenders.

Wells Fargo & Co. on Friday reiterated its plans to slash costs over the next year -- but executives gave themselves new wiggle room to rethink those cuts later.

Mortgage lenders issued $29.2 billion of GNMA MBS in March, up 5% from the prior month as securitizations of jumbo and multifamily loans surged, according to new figures released by the government.

A rose by any other name may smell as sweet. But would the Highlands of Olney development sell as well if it were peddled as "K2"? Probably not. And therein lies the reason most builders believe naming their subdivisions ranks right up there in importance with quality construction. They also find the chore to be a traumatic event that one builder once compared to "trying to name your firstborn"

The 'qualified mortgage' rule that the Consumer Financial Protection Bureau is working on is expected to limit the kind of mortgages that lenders can make – but may also curb the size of the loans they originate as well.

Over the past two months National Mortgage News has been reporting on a mysterious warehouse lender called eWarehouseOne. Late this week we learned that Anthony J. Simich, a division vice president for the firm - and one of few employees there who actually returns phone calls and emails - resigned.

Rock-bottom home loan rates persisted through the first quarter, goosing origination volume and setting banks up to post another round of strong mortgage banking results.

The correspondent lending division of GMAC Bank on Friday told its mortgage banking clients that it will "significantly" curtail government lending tied to FHA, VA and USDA, according to a memo provided to National Mortgage News.

Wells Fargo & Co. rolled out its HARP 2.0 program in the middle of the first quarter and GSE refinancings are just now starting to roll in, company executives said Friday morning.

Commercial mortgage banker Walker & Dunlop, Bethesda, Md., has hired three new producers in its capital markets group.

One of the easiest ways to get my attention is to follow me on Twitter and shoot me a message. I'm @mortgagenewz.

The headline sounds crazy. Loan brokers are on their backs, right? Well, not necessarily. If you've been reading the coverage in National Mortgage News and Origination News you know that wholesale (broker) lending as a percentage of the overall business has been rising - not by much but at least it's going in a positive direction (11% market share at last check.)

Mortgage Technology is pleased to begin accepting nominations for the 2012 Top 50 Service Providers.

Wells Fargo & Co. reported strong earnings from its mortgage banking operation in the first quarter with residential originations more than doubling from a year ago and non-interest income climbing 42%.

Fair Isaac's (FICO) new chief executive is starting in defense mode, as the credit-score giant looks to regain the reputation and business it has lost in the wake of the financial crisis.