Originations

PennyMac Mortgage Investment Trust has a struck a new master repurchase facility with Credit Suisse First Boston that will help the REIT fund its correspondent mortgage business.

JPMorgan Chase reported strong mortgage results for the first quarter, noting that residential applications rose 33% from the year ago period with chairman and CEO Jamie Dimon declaring that housing is "very close" to a bottom.

The risk for mortgage fraud in the areas of employment and income rose last year, according to Interthinx.

Many people call the mechanics of the selling process many things—a presentation, a sales script, prepared notes or whatever - "A rose by any other name..." I like to refer to the fact that the process of selling requires sales people to make presentations. It is crucial to recognize that it takes multiple presentations for most sales people to achieve effective results.

Mortgage Technology is pleased to begin accepting nominations for the 2012 Top 50 Service Providers. The nomination form is available on MT’s website. The final deadline for nominations will be 6 p.m. EDT Friday, May 4, 2012.

The need for sensible subprime residential lending (hard money, call it what you may) has never been greater, but I would venture that less than $1 billion of these loans were originated last year, and maybe that's a generous estimate. I know of a few mortgage executives who have tried in vain to raise private equity money but with no luck.

Mortgage rates on 30-year loans fell for the third consecutive week, easing fears that refinancings could slow dramatically.

The government controlled Ally Financial Thursday morning filed an amended S-1 statement with the Securities and Exchange Commission, saying it hopes to sell $100 million worth of common stock to the general public.

I just read the latest National Association of Realtors report saying that in 2011, 37% of all homebuyers were first timers. That's down from 2010 but it's still one-third of the home buying market.

Errors in good-faith estimates can be costly for the lender because of the need to make payments when there are tolerance violations. Meanwhile, consumers are looking for the lowest costs possible when closing their loans. There is now a partnership that will bring both of those things to the table for lenders.

CoreLogic, once the largest shareholder of Ellie Mae’s stock, sold its stake in the loan origination system vendor.

Residential real estate activity showed "some" improvement in March, but there were few signs of spring for the single-family housing market in the Federal Reserve's Beige Book report released Wednesday afternoon.

As mortgage rates continue to be at all-time lows, the present day is a better time than ever before for a prospective homebuyer to purchase any type of property.

In shaping the future of the housing finance system, Congress needs to review the patents Fannie Mac and Freddie Mac own on many lending, servicing and secondary market processes, according to the Consumer Mortgage Coalition.

Online-only mortgage lender Quicken Loans is using the recently announced layoff of 2,000 Yahoo employees to try to boost the tech talent within its own ranks.

In 2011, more than $184 billion in commercial and multifamily mortgage loans was originated, according to the Mortgage Bankers Association.

Lenders are hoping the Consumer Financial Protection Bureau will approve a 'qualified mortgage' rule with a safe harbor, protecting them from consumer lawsuits, but a legal analysis shows lenders may still be vulnerable if they are careless or cut corners.

This morning The New York Times reported that our nation's banks are "back to lending to risky borrowers. As banks look to make up for fee income barred by new regulations, they've gone back to offering loans and credit cards to borrowers with bad credit."

Mortgage applications fell 2.4% for the week ending April 6, continuing a trend that started several weeks ago when rates began to rise, according to new figures compiled by the Mortgage Bankers Association.

Roughly 33 full-timers will lose their jobs when Ally Financial closes its MBS broker/dealer operation, according to a company spokeswoman.