Originations

Accenture announced its acquisition of Dallas-based mortgage outsourcing provider Zenta Monday, in a move that puts the global consulting and outsourcing provider in the thick of the mortgage origination business and the massive loss mitigation efforts ongoing in the mortgage servicing industry.

A Jacksonville title agent who was the owner of Premier Title Group Inc. has pleaded guilty to bank fraud last Friday afternoon for serving as the closing agent during a mortgage fraud scheme.

The loan-limit countdown has begun. In lieu of lower loan limits on conforming loans and mortgages insured by the Federal Housing Administration, some lenders have already stopped taking applications for financing in amounts above $625,500.

The PMI Group late Friday told its mortgage banking clients that it has immediately halted the writing of all new insurance policies.

Although mortgage rates hit a 50-year low last week, don't expect them to bail out the ailing U.S. housing market.

Could there really be 459,000 U.S. loan officers plying their trade in residential finance?

The new mortgage origination paradigm must include building relationships and networking, skill sets that many new to the business did not learn or chose to neglect during the boom years. It is more than glad-handing when you walk in the door; these relationships need to explore issues that go beyond the point of sale.

While some Dodd-Frank regulations are still taking shape, there are several defined broad requirements that the law's implementation date last month should be lenders' cue to address. Lenders generally are well aware of and have been working on some of these requirements, but Offit Kurman attorney Ari Karen is concerned that they are overlooking two.

Lenders originated $13.3 billion in traditional FHA-insured reverse mortgages during the first three quarters of fiscal year 2011, which is down 18% from the same period a year ago.

The recent rise in refinance applications has prompted economists at the Mortgage Bankers Association to boost their origination forecast for the second half of this year by over $90 billion.

Undisclosed fines and liens on a property are a nightmare for lenders and homeowners. Now add on to that the fact these liens are not covered under the traditional ALTA title insurance policy.This is the case with municipal code violations, which could then come up to bite property purchasers and their mortgage lien holders. These are typically not recorded on government property records.

The North Shore Bank of Wisconsin has introduced a construction loan that promises “lucrative financial rewards” to those who choose to build an energy-efficient home using the new financing option.

The Appraisal Institute named a Texas appraiser as its new elected vice president for 2012 as part of its annual changing of the guard.

A report from Re/Max covering 53 different markets found home sales dipped nearly 13% between June and July, but increased by over 13% when compared with July 2010. The data is not seasonally adjusted.

Mortgage quality control technology and services provider Aklero Risk Analytics has named an executive from ISGN as chief financial officer.

Potential homebuyers are "spooked" by the stock market tumbling, the deficit mess in Washington and economic news, according to a Moody's Analytics economist.

The New York Stock Exchange has notified The PMI Group Inc., Walnut Creek, Calif., that it is not in compliance with the exchange's continued listing standard and faces suspension and delisting.

I have come to view my marketing clients as my "canaries in the coal mine" on the business climate. Having a marketing related business in every city where we have clients (i.e. Boston to Portland), gives me a great pulse on the market all across the U.S. I can evaluate their real financial condition since we see their numbers and forecast their results through the end of the year for cash flow and tax planning.

Homebuyers are double dipping on available federal- and state-run mortgage finance programs, in some cases buying a home with a mortgage that requires virtually no down payment.

The president of San Diego-based valuation data and technology provider DataQuick is defending his profession against what he says are misconceptions about the fundamentals of valuations and the current regulations of the industry.