Originations

The growing number of community banks starting warehouse lending programs has to be gratifying to the executives at Titan Lenders Corp., Denver. It was just three years ago they were so concerned about the future of this business they called for Troubled Asset Relief Program funds to fill the need.

Flagstar Bancorp Inc., Troy, Mich., lost $45 million for the fourth quarter, which represents a vast improvement over the $192 million loss for the same period in 2010, attributing the results in part to "near-record revenues from our mortgage banking business."

Mortgage loan application volume declined by 5% on a seasonally adjusted basis for the week ended Jan. 20, as interest rates on some fixed-rate loans rebounded from their all-time lows, according to the Mortgage Bankers Association. The results for the current survey include an adjustment to account for the Martin Luther King Day holiday.

Fannie Mae's final multifamily issuance numbers for 2011 are in and they reflect a 50% increase from the previous year, according to an executive at the government-sponsored enterprise.

Citigroup Inc. will no longer purchase "medium or high-risk" loans that could result in buyback requests from Fannie Mae or Freddie Mac, in the bank's latest effort to improve the quality of mortgages it buys from correspondent lenders, according to an internal memo obtained by American Banker.

The Consumer Financial Protection Bureau will tap small lenders to review its approach to merging the RESPA and TILA mortgage disclosure forms before issuing a proposal for public comment.

Alaska developer Lee Baker, Jr., known in Anchorage as "The Condo King," has been indicted by a federal grand jury on charges that he lied on loan applications to Denali Alaskan Federal Credit Union.

The nation's largest mortgage insurer, MGIC Investment Corp., posted yet another large loss in the fourth quarter, $135 million, but managed to obtain an operating waiver from the Wisconsin Insurance Commissioner, as well as Fannie Mae and Freddie Mac.

A new year brings a clean slate for many area. And for those who own a mortgage origination shop, it means the books from 2011 are closed. It is time to rededicate to running that business like a business.

When President Obama installed Richard Cordray as director of the Consumer Financial Protection Bureau, industry observers declared that a lawsuit was imminent.

In the mortgage industry, many branch managers are also the top loan originator in the office. Handling both tasks is often a juggling act, and sometimes the manager does not realize that one or more of the balls have fallen.

A recent Government Accountability Office report on appraisal oversight adds to evidence valuation problems could be persisting, according the National Association of Home Builders. The report suggests that the Appraisal Subcommittee charged with monitoring valuations has not fully been able to yet in line with its expanded role under Dodd-Frank.

The Home Lending Source, Ft. Lauderdale, Fla., has hired 30 loan officers from the MetLife Home Loans, and is talking to another 25 or so.

Two years ago Wells Fargo and Bank of America were running neck-and-neck, competing against each other to become the nation's largest home lender. But today, Wells has emerged not only as the clear victor - by far - but B of A is now a shadow of its former self in mortgage banking, falling to fourth place in loan production.

Answering complaints that appraisers are using uncomparable 'comparables' on which to base their valuations, the Appraisal Institute has published new guidance to help valuation professionals know when -- and how -- to use distressed sales in appraising real estate.

Fifth Third Bank reported that demands by Fannie Mae and Freddie Mac to repurchase bad loans have slowed, but the seller/servicer is seeing what it calls an "uptick" in file reviews by the GSEs on performing mortgages.

Some of the healthiest markets in the country for home builders are in North Carolina. But the safest place is an active-adult mecca called The Villages in Florida.

If your pipeline isn’t full, don’t blame the market. I see many loan officers that get caught up in the "Ain't it Awful Club" and more often than not, their production reflects a (hopefully, temporary) lack of motivation and passion.

The bureau of compliance and licensing for the Pennsylvania Department of Banking continued to reduce the amount of fraud taking place within the state during the fourth quarter last year.

Caliber Funding LLC, Irving, Texas, is talking to several loan officers and support staff who worked at MetLife Home Loans and may wind up hiring upwards of 300 full-timers, according to officials familiar with the situation.