Originations

After several weeks of application declines, it appears that low interest rates are finally causing an increase in new business.

To pay for the President's $450 billion jobs bill, the White House budget office is proposing to reduce the amount of mortgage interest that homeowners can deduct from their income taxes.

Sen. Bob Corker, R-Tenn., is considering bipartisan legislation that would gradually lower the loan limits on federally backed mortgages, a move that could pave the way to private lending flourishing again.

A recently established technology vendor says its new database of commercial mortgage information will serve as a lead generation tool for brokers looking to contact property owners who may need to refinance CRE loans.

A government streamlined refinancing program that would reduce monthly mortgage payments for a large number of borrowers appears more likely while insiders fret over new hints on its future and cost burdens on borrowers, the government and investors.

Social media use remains a polarizing issue among mortgage origination companies—they either embrace it or shun it totally. The latter is in part because of the fear, not entirely unfounded, that their regulators who don't have a policy in this area could come down hard on any missteps.

The Consumer Financial Protection Bureau is entering 'round four' of testing new mortgage disclosure forms, and is now requesting public input on what should be said regarding adjustable rate mortgages.

The Obama administration is proposing to use $15 billion of government money for "land bank" opportunities to help communities with large concentrations of distressed commercial and residential properties.

A federal judge this week ruled that the court-appointed trustee overseeing the liquidation of Thornburg Mortgage, Santa Fe, can move forward with a lawsuit against Barclays Capital alleging the investment banker made improper margin calls that helped drive the jumbo lender/servicer into bankruptcy.

A dozen local housing markets have shown enough improvement over the last six months to make the cut for a new "good news" index the National Association of Home Builders hopes will take some of the spotlight off national measures that tend to portray only gloom and doom.

Radian Guaranty Inc., Philadelphia, reported a decline of roughly 600 loans in its delinquent loan inventory for August. But new notices of problem loans (late payers) outpaced cures by about 1,600 loans.

Roughly 9.43% of commercial real estate loans – including multifamily product -- that have been securitized are now 30-days or more late, a record, according to new figures compiled by the Mortgage Bankers Association.

Congress is working to prevent a lapse in the availability of federal flood insurance money by the end of September, a move that could help bolster the fortune of mortgage bankers who fund loans in areas prone to flooding.

Small mortgage banking companies hustled in the second quarter to go after the mortgage purchase business and remained profitable as refinancings dried up.

Bank of America Corp. chief executive Brian Moynihan promised investors he would save $5 billion in costs by 2013, but was otherwise scarce on details during a much-anticipated speech on Monday.

Work-life balance has come up in the news, in a rather unexpected way. In a ruling dismissing an employee pregnancy discrimination case against Bloomberg LP, Judge Loretta A. Preska of the U.S. District Court in Manhattan declared that employers are not required by the law to make sure there is a work-life balance.

Last week, we reported in this space that a construction crane, the state bird of Florida, had landed in the Miami area. The crane hasn't been seen in these parts in several years, and some were saying it should be added to the endangered species list, if not named as extinct. Now, it appears a whole flock is returning.

SAN JOSE, CA—Almost all of the activity regarding regulation and legislation of mortgage origination activity is happening on the federal front, members of the California Association of Mortgage Professionals said at their annual convention here.

Specialty mortgage servicer Wingspan Portfolio Advisors says it is further expanding into new residential-related sectors, including technology and insurance.

The Washington and Baltimore markets closed out the summer home buying season with their best August in years, according to a pending sales index devised by the local multiple listing service.