Originations

Many people take the first few weeks of the year to review and revise their personal and business goals for the next twelve months. Here's an alternative method suggested by Chris Brogan for achieving your 2012 goals.

Until a few months ago it was thought that 2012 might turn out to be a disaster year for loan production, one in which refinancings finally withered and home purchases continued to be anemic. But not anymore.

If you're looking for the next megabank to exit the mortgage sector the most likely candidate would be Ally Financial, the government owned bank holding company that controls No. 5 ranked servicer GMAC Mortgage/Residential Capital Corp.

Rep. Barney Frank, D-Mass, late this week introduced legislation that allows loan officers at mortgage brokerage firms to be more competitive when customers are shopping for a mortgage.

Private-label residential mortgage securitizations continue to be relatively scarce, but the market keeps coming up with creative ways to issue them from time-to-time that are worth noting as investors continue to hunger for yield.

There were more cures than new notices of default in February for the nation's private mortgage insurers, continuing a trend of recent years, according to data compiled from members of the Mortgage Insurance Cos. of America.

A pilot program can be devised to show principal reduction is a cost-effective way to keep underwater Fannie Mae and Freddie Mac borrowers in their homes and prevent strategic defaults, according to a new report by a research group.

American Realty Capital Trust Inc., New York, has withdrawn its registration statement connected with a possible secondary offering of the company's common stock, stating it was happy with the results of a tender offer to repurchase existing shares.

ICON Residential, Irvine, Calif., has hired MetLife veteran James Matarazzo as area sales manager for wholesale, covering the Southeast.

A New York-based real estate fund manager that currently handles more than $2 billion of assets has expanded its business operations by opening new offices in Fort Myers, Fla.

So, HARP 2.0 is going to be the program that finally helps millions of current but underwater Americans refinance their GSE loans? Last week National Mortgage News first reported about some of the fat profits being earned by the nation's megabanks on the 'new and improved' program.

I occasionally get invitations to speak at mortgage industry events (in addition to chairing our own SourceMedia conferences). My reaction is always bifurcated. On the one hand I'm always flattered people think my outlook on the business is worth listening to. On the other hand I'm always worried I will say something exquisitely stupid.

It was announced this week that the Consumer Financial Protection Bureau is planning on issuing a proposed rule changing the current loan officer compensation laws in the near future.

Investors ramped up their purchases of single-family homes last year to a level not seen since 2007 -- and only half of those buyers financed the purchase. Almost half (49%) paid cash, according to a new report from the National Association of Realtors.

Mortgage brokers are complaining to the Consumer Financial Protection Bureau that the loan officer compensation rule is making it more expensive and difficult to close loans -- and it appears the bureau is listening.

Mortgage Master, Walpole, Mass., one of the largest privately held nonbank lenders in the Northeast, this week hired industry veteran Don Henig to be its managing director of national sales, officials at the company confirmed to National Mortgage News.

Today is the final deadline for submissions for our 2011 survey of loan officer production. The top 150 in terms of dollar volume will be featured in May's Origination News.

Reputation is everything in a business such as mortgage originating, where the consumer needs to trust the person they are doing business with.

Over the past few months eWarehouseOne has been gaining somewhat of a buzz among small to medium-sized nonbanks that have been searching high and low for a good deal in warehouse financing. But at the same time, these very same lenders have been asking a very basic question: who exactly are these guys?

New York attorney general Eric Schneiderman's efforts to carve $15 million out of the state's $132 million national mortgage servicing settlement fund to provide foreclosure prevention assistance to New Yorkers came to fruition only a few days shy of the fund's expiration date.