Originations

Builders broke ground on fewer homes in August than in July and the same month a year ago, evidence that the nation's housing depression is continuing – despite ultra low mortgage rates.

Eight years ago a Bear Stearns research report on the mortgage insurance industry warned of a grave threat: In exchange for steering home buyers to the insurers, mortgage lenders were demanding unjustifiably lucrative reinsurance deals.

Affordable housing advocates and mortgage industry groups are often on opposite sides of the debate over the future of lending, but recent regulations have created a common adversary for the two groups: the QRM.

Piping Rock Partners, a San Francisco-based multifamily real estate investment management firm, has refinanced a privately placed, fixed-rate interim-term loan into a $4.35 million Federal Housing Administration 223(f) loan. The loan is secured by a 120-unit multifamily property in southern Indiana.

I recently viewed a cable television special on hot dogs and as part of the show it featured some of the great marketing campaigns that helped to distinguish a very commoditized product from the competition.

Fannie Mae chief economist Doug Duncan on Monday raised his 2011 origination forecast to $1.2 trillion, up from a recent forecast of $1.09 trillion.

It appears as though lower GSE loan limits may soon become reality, but that hasn't stopped housing, realty and mortgage trade groups from promoting the issue.

Industry veteran John Robbins, who exited the business six years ago, next week will announce that he's reentering mortgage banking with a new retail/wholesaler lender.

Rialto Investments, the distressed asset arm of home builder Lennar Corp., took a $10 million charge relating to its joint venture with AllianceBernstein LP in the third quarter.

The Department of Housing and Urban Development wants All American Home Mortgage Corp. to indemnify the Federal Housing Administration against future losses on five loans that were endorsed for more than $1 million that violated industry guidelines and reimburse the agency $181,515 for associated fees paid on one loan that had underwriting deficiencies.

The National Association of Home Builders said Monday that its index of builder sentiment fell in September to a reading of 14, one point below the prior month.

Residential lenders issued $27.8 billion of Government National Mortgage Association MBS in August, a slim gain of just $14 million from the prior month, according to new figures released by HUD.

The White House plan to refinance upwards of $2 trillion of problematic GSE loans is running into a roadblock: MBS investors, in particular foreign buyers that are allies of the U.S.

Mike Perry, who led IndyMac Bancorp until its collapse in 2008, is trying to rehabilitate his image, waging a public campaign rarely seen from an executive of a once high flying mortgage lender.

Don't waste money on sales training. Makes sense to me—or does it? As a national sales trainer and coach, the objections I encounter rarely change. When a business or salesperson is doing well or poorly, they usually make the same invalid argument relative to sales training and coaching.

How different regions of the nation are performing in terms of mortgage loan originations could very well depend on what type of customer you are marketing to.

With this issue, National Mortgage News is completing its 35th year of independent coverage of the mortgage industry, and is getting ready to tackle its 36th.

Bank examiners are exploring whether the nation's depositories have accurately valued $845 billion of home equity and second liens, according to seven people with direct knowledge of the matter, according to a report by Bloomberg.

It's not looking good for fans of keeping the higher GSE loan limits, but that hasn't stopped housing, realty and mortgage trade groups from promoting the issue through their elected officials.

Home sales in August were up 4% over July and 18% higher than one year prior in 53 markets nationwide, according to the Re/Max National Housing Report. Traditionally, June is the highest sales month, but this year, it was topped by the other two summer months.