Originations

Community banks and thrifts are slowly increasing their originations of non-conforming mortgages, while pulling back on making FHA loans, according to a new study from the American Bankers Association.

There's been a decided shift in theme statements in the mortgage business over the past five years. The old mortgage mantra of "the American Dream of Homeownership" has experienced an abrupt downshift to a new one: "Not everyone should be a homeowner."

I recently received a business card from a loan officer who called himself a "Personal Liability Manager" with the tag line "providing mortgage and liability management on an ethical and objective basis." It's unique. It's different. And it begs the all-important question—so how do you do that?

Two sales associates for eWarehouseOne have resigned over the past few weeks, including industry veteran Henry Brandt.

Standard & Poor's said Tuesday that home prices fell in January for the fifth consecutive month, reaching a new low for the housing bust.

The Consumer Financial Protection Bureau plans on taking a close look at the Federal Reserve's controversial loan officer compensation rule and will issue a new proposal "soon" according to a top official at the young agency.

HECM lenders and originators need to be increasingly proactive about reporting potential fraud and aware of how best to identify and report it if they want to mitigate potential indemnification and compliance risk, a special agent from HUD IG's office told attendees at a National Reverse Mortgage Lenders Association meeting Tuesday.

While facing continued pressure from its largest investor for a management shakeup, CoreLogic expects to benefit from continued mortgage refinancing activity, internal cost cutting and the introduction of new products.

Freddie Mac purchased $37.6 billion of residential loans from its seller/servicers in February, a 10% increase from the prior month, and a sign perhaps that Bank of America's recent decision to quit Fannie Mae is helping Freddie.

It appears the Consumer Financial Protection Bureau will revisit the issue of loan officer compensation - and maybe even in a way that benefits nonbank LOs. The whole issue is too early to predict, and we suggest you visit the main National Mortgage News website for a just breaking update.

The future is looking better in California as pending home sales increased in February for the second straight month, according to the state association of Realtors.

Wells Fargo & Co., the nation's largest residential lender, is trying a new twist on long-controversial downpayment assistance programs, which give money to prospective borrowers who otherwise could not afford to buy homes.

For smaller companies, social media is a marketing equalizer versus larger competition. The question has been are they taking advantage of it and the follow up is if they are, are they doing it effectively?

The National Reverse Mortgage Lenders Association has raised the possibility of creating a hybrid reverse mortgage loan with members of the White House staff, Peter Bell, its president and CEO told attendees at the group's eastern regional meeting in New York.

The Department of Housing and Urban Development has ordered AmericaHomeKey, Inc., to immediately stop making FHA-insured mortgages and fined the Dallas-based lender $268,000.

Contracts to purchase previously owned homes eased by half a point in February on a sequential basis, but rose 9% compared to the same month last year, according to new figures released by the National Association of Realtors.

It is hard to deny Richard Cordray's hiring to run the Consumer Financial Protection Bureau nearly four months ago is a flash point in continuing debates over regulatory appointments and implementing the Dodd-Frank Act.

Who says a consumer with a low FICO score can't get a mortgage? A recent survey conducted by National Mortgage News found five lenders that are willing to extend credit to borrowers with FICOs of 600 or less. The three lenders with the lowest FICO scores include TD Banknorth Mortgage, Embrace Home Loans, and Compass Bank.

Residential lenders originated $16.5 billion of FHA-backed single-family mortgages in February, a nearly 10% decline from the prior month as the home purchase market slowed.

Few companies recognize the need to train their staff in the discipline of trade show participation (for purposes of this discussion "participation" is synonymous with "exhibiting") and selling. The first step toward the solution of any problem is the recognition that a problem exists. Too often the decision to exhibit at some, or all, trade shows in a given profession is decided for the wrong reasons.