Originations

Ginnie Mae is in the process of hiring at least 40 new employees which would increase the secondary market agency's staff by one-third.

The total home equity held by U.S. senior citizens increased by $46 billion in the third quarter last year, to $3.19 trillion, according to the National Reverse Mortgage Lenders Association/Risk Span Reverse Mortgage Market Index.

Over half of the mortgage originators surveyed by Hammerhouse LLC said the No. 1 issue facing them in 2012 is further oversight or regulation for the industry. The Mission Viejo, Calif.-based recruiting company released results from its second annual Survey of Originator Opinions.

The national delinquency rate remained at 8.15% at the end of December, the same as the prior month, according to Lender Processing Services' "first look" mortgage report.

Some AMCs are looking at the UAD as an opportunity to revisit quality control processes, updating them and streamlining them where possible. Those AMCs that are not taking advantage of this opportunity should be.

"Change does not roll in on the wheels of inevitability, but comes through continuous struggle. And so we must straighten our backs and work for our freedom. A man can't ride you unless your back is bent." - Martin Luther King, Jr.

The average weekly primary market rate for a 30-year mortgage in Freddie Mac's survey inched down by a basis point to 3.88% during the week ending Jan. 19, setting the bar for the lowest rate for this loan has ever had just a little bit lower.

Warehouse lending is becoming less popular with some of the big players who have provided it, but remaining and new market participants find it can be profitable if they can get comfortable with the credit.

Residential construction ended 2011 on a positive note with single-family housing starts rising in December for a third straight month at 4.4%, according to government figures released Thursday morning.

The head of the Mortgage Bankers Association is calling on his brethren at other trade groups to work together with MBA to forge coordinated policies to "reestablish a vibrant" housing finance system in the U.S.

Bank of America's residential mortgage division posted a net profit of $2.3 billion in the fourth quarter, but for the full year the unit bled almost $8.2 billion of red ink, according to earnings figures released Thursday morning.

Mitt Romney has been a key figure in the saga of the nation's financial woes, perhaps more important than any other Republican politician. But much of what he did and said in the early stages of the crisis, including about housing, has been largely forgotten.

The mortgage banking division of PNC Financial Services lost $61 million in the fourth quarter due to what the bank called “foreclosure-related expenses primarily as a result of ongoing governmental matters.”

Asset Revitalization Solutions, an Austin, Texas-based company that specializes in distressed asset investments and management, acquired $10 million in distressed loans in Florida.

The latest Freddie Mac economic forecast predicts the housing recovery will be delayed as long as there remains a large gap between buyer and seller sentiment.

Some of the first 2012 deals done through some of the agencies' more recently added multifamily programs are hitting the market and so far it looks like another strong year for these types of bonds.

Remember that 10 basis point increase in g-fees that will pay for the payroll tax break (at least until February 28)? Well, guess what? It appears that some lenders and secondary market investors are hiking their rates a lot more than 10 bps, or so we're told.

Mortgage loan application volume increased by an astounding 23.1% on a seasonally adjusted basis for the week ended Jan. 13, as interest rates on three varieties of fixed-rate loans hit all-time lows, according to the Mortgage Bankers Association. The results for the current survey include an adjustment to account for the New Year's Day holiday.

U.S. Bancorp Wednesday morning reported mortgage and retail related originations of $24.5 billion in the fourth quarter, double of what it funded in home mortgages in 3Q.

Despite a rough start, the huge Houston housing market ended 2011 solidly in the black.