Originations

C. Darren Stumberger is joining Knight Capital Group Inc., Jersey City, N.J., as managing director, mortgage trader, with an emphasis on reverse mortgage securitization. Knight's subsidiary Urban Financial Group is an originator of Home Equity Conversion Mortgages, and a Ginnie Mae-approved issuer of HECM Mortgage-Backed Securities.

Ginnie Mae issuers sold $27.8 billion in mortgage-backed securities into the secondary market in July, up 6% from the previous month, according to the Government National Mortgage Association.

Say what you will about stock market crashes, but the latest carnage in equities is causing mortgage application volumes to spike - by as much as 30% at some shops.

While the private mortgage insurance industry is making a push to be included in a revised definition of a qualified residential mortgage, there is a question of how many of these companies will still be around when QRM goes into effect.

A few weeks ago, National Mortgage News upgraded its presence on Facebook; yours truly now has an account there as well. But we aren't the only ones using Facebook to expand our marketing activities.

Conventional refinance mortgage application numbers affected by low rates during last week's market volatility are expected to come in roughly around 20% lower than they were when the Mortgage Bankers Association's application index hit its peak last year, according to a Credit Suisse report Monday.

Distinctive features related to principal forgiveness in an unusual modification program Ocwen recently started could improve efforts made to resolve underwater loans in securitizations, according to a Moody's Investors Service report Monday.

Single-family housing starts fell 5% in July from June while multifamily starts held steady, according to a new government report.

Ellie Mae, Pleasanton, Calif., has acquired Del Mar DataTrac Inc., San Diego, for $17.2 million cash at closing, and future cash payments of $3 million, $3 million and $2 million to be paid over the next three years.

Nearly three-quarters of commercial banks surveyed by the Federal Reserve Board cited the lack of demand for single-family loans by creditworthy borrowers as the major factor for the slow pace of mortgage lending.

Home builder confidence in the market for newly built single-family homes remains poor, as the August index value for the National Association of Home Builders/Wells Fargo Housing Market Index was unchanged from July's 15.

California home sales fell by over 4% on a month-to-month seasonally adjusted basis for July, but when compared to July 2010, they were up 4.5%, the state's Realtor association reported.

More homeowners say they are under water on their mortgage and more Americans are pessimistic about house prices, according to a quarterly consumer survey by Fannie Mae.

U.S. subprime credit default swap prices recovered in July after being adversely affected in June by the so-called Maiden Lane auctions and the problem looks unlikely to recur, according to Fitch Solutions' index.

Oak Grove Capital has originated a $59.5 million Fannie Mae bond credit enhancement loan for the acquisition and renovation of 694 affordable housing units on the Southside of Chicago.

The CEO of Synergy One Federal Credit Union, whose branches are located in Prince William County, Va., said the institution's pending acquisition by Apple Federal Credit Union, Fairfax, Va., is being caused by how the economy is affecting the area's housing market.

Small community banks will have to pay for a compliance audit if they want to continue to originate FHA-insured single-family loans, according to the Department of Housing and Development.

When the market panics it seems like anything goes. But there actually are some things mortgage investors should remember historically tend to occur.

The Mortgage Bankers Association is seeking relief from the dual tracking system under the Secure and Fair Enforcement for Mortgage Licensing Act that sets different qualification requirements for loan originators, depending on where they are employed.

HomeSteps, the real estate sales unit of Freddie Mac, is now offering a special limited time offer of $1,500 to help condominium buyers pay for future associates dues.