Originations

A House Financial Services panel on Tuesday approved a bill requiring the Federal Housing Administration to submit a plan to Congress on how it will avoid a bailout of its financially strapped mortgage insurance fund.

Fixed-rate mortgage rates hit all-time lows, spurring an increase in mortgage refinance loan application volume and as a result overall mortgage application volume increased 7.5% on a seasonally adjusted basis for the week ended Feb. 3, according to the Mortgage Bankers Association.

Trapped between conflicting requirements that indicate collapse and abolition prospects, the future status of Fannie Mae and Freddie Mac is emerging as one of the year's biggest concerns.

Although this past Sunday was nominally about a football game (and yes, the parade could be seen from my office), from a marketer's standpoint, it is also their Super Bowl.

The United Kingdom's Chancellor of the Exchequer, George Osborne, said regulators there are considering regulating loan-to-value ratios in mortgage lending.

The greatest fear for small- to medium-sized nonbanks is that Wells Fargo—the "big kahuna" of mortgage finance—will exit the correspondent lending space. And what a fear it is: in the most recent quarter in which there are final numbers, Wells bought a stunning $41 billion of loans from others, giving it a market share of 30% in the channel.

HomeStreet Bank, Seattle, is in the throes of hiring dozens of loan officers who worked at MetLife Home Loans and anticipates that in time it will hire north of 160 workers.

The Financial Crimes Enforcement Network finalized regulations today by which non-bank residential mortgage lenders and originators will have to follow the same rules as other financial institutions.

PHH Corp. reported a GAAP profit of $13 million in the fourth quarter, but posted a GAAP loss of $127 million for the full year. Its core earnings, a measurement which among other things removes changes in the fair value of derivatives related to mortgage servicing rights, was $55 million for the quarter. For the full year, the company said using the core earnings measure, it had a profit of $182 million.

I'd like to see the loan officer who consistently converts prospects into borrowers simply by providing great service, especially in this market. I'm not knocking service. I like dealing with pleasant people who are professional and on time.

Execution is the key to your success. Without the systematic rigorous process of tenaciously following through, while ensuring accountability, your business and personal life will be less rewarding than it could be.

County recorders in New Jersey will now be required to accept electronic documents, following the recent enactment of a bill to modernize the land recording process.

Maverick Funding Corp., Parsippany, N.J. has hired away Joshua Shein, the CEO of reverse lender Great Oak Lending who brings with him to his new employer roughly 30 employees including 11 loan officers.

Things generally have been looking better for commercial mortgage-backed securities, but those investing in the space should consider the nuances involved as well as the big picture.

Dissenting Federal Reserve Board member Charles I. Plosser, president and CEO of the Federal Reserve Bank of Philadelphia, in a speech Monday renewed his longstanding opposition to Fed policy moves aimed at putting downward pressure on rates for mortgages and other funding.

Although insurance conglomerate MetLife failed to unload its residential lending division, it has found a buyer for its warehouse business, according to industry officials close to the matter.

Loan originations on income producing properties will rise 17% this year to nearly $230 billion, the Mortgage Bankers Association is projecting in its first-ever non-residential lending forecast.

David Zugheri, founder of Houston-based Envoy Mortgage discusses preparing for the Uniform Mortgage Data Program.

David Zugheri, founder of Houston-based Envoy Mortgage discusses his bank’s approach to technology adoption.

David Zugheri, founder of Houston-based Envoy Mortgage explains how his company is taking advantage of MetLife’s exit from the mortgage industry.