Originations

Michele SimmsParris sued Countrywide Financial Corp. and Countrywide Home Loans under the Fair Credit Reporting Act to recover for the reporting of what she asserts was false information about her mortgage repayments.

Mom, apple pie and Chevys are all near and dear in the hearts of Americans—along with the mortgage interest deduction. But thanks to the government’s worsening debt picture it appears that at least one of these cherished icons is in danger of being thrown overboard.

The yield on the benchmark 10-year Treasury fell to 2.35% Monday morning, nearing its all-time low as stocks sold off in the wake of S&P's historic debt downgrade on the U.S.

Wipro Gallagher Solutions added an integration to Fannie Mae’s EarlyCheck, a tool that allows lenders to run pre-closing quality control checks on mortgage applications, to its NetOxygen loan origination system.

The chief executive of a major real estate brokerage firm is urging President Obama to hold a White House summit to gather recommendations and ideas on how to stimulate the housing market.

It is not just the excess inventory of homes for sale that is and will be burdening the nation's homebuilders. A negative psychology among homebuyers “remains relatively pervasive,” a quarterly report on the industry from Fitch Ratings, New York, said.

Success can come from taking advantage of opportunities others don't want and having the strength to do what's right even in tough times.

A bipartisan group of lawmakers, aided by banking and housing groups, are beginning a strong lobbying push to forestall a scheduled drop in the maximum sizes of mortgages backed by the government-sponsored enterprises.

WASHINGTON—The Conference of State Bank Supervisors has begun development of uniform state examination procedures for the loan originator compensation rule.

The founder and part owner of appraisal management vendor AppraiserLoft resigned as CEO this week, saying he wants to pursue new business ventures in mobile technology application development.

Profits at TFS Financial Corp. in Cleveland, a top ranked mortgage funder in the state, fell sharply in the quarter that ended June 30, as a surge of new loan activity could not make up for a steep drop in noninterest income.

State and tribal governments traditionally mistrust each other. But a state agency in New Mexico is an absolute model of cooperation when it comes to housing finance on that state’s reservations.

The National Association of Independent Housing Professionals plans to set up a legal fund to help residential loan brokers defend against buyback claims being filed against them by the Federal Deposit Insurance Corp.

Veros Real Estate Solutions will host a free webinar on extracting data from PDFs, with a special emphasis on the new appraisal delivery requirements of the government-sponsored enterprises' Uniform Mortgage Data Program.

Mortgage companies cut 2,400 full-time employees from their payrolls in June, including 1,800 loan brokers, according to new government figures released Friday morning.

CoreLogic posted net income of $31.48 million for the second quarter of 2011, an increase of nearly 29% from 2Q10's net income of $24.41 million. But the higher earnings were off lower revenue, $396.4 million in 2Q11, compared to $411 million in 2Q10.

When prospecting, even if you do everything I suggest in my Smart Calling tips, point-by-point perfectly, and deliver what you feel is a tailored, value-packed opening statement, you will still get people who respond with some variation of "I'm not interested," or, "We're happy with what we're doing."

On Friday morning, the day after the share price of PMI Group tumbled by 50%, FBR Capital Markets labeled the stock a 'market perform' but said it is dropping its expectations on the nation's second largest mortgage insurer.

Buoyed by gains from mortgage servicing revenue, Ocwen Financial Corp., Atlanta, reported net income of $26.4 million in the second quarter, up 65% from the $16 million it earned in the same quarter last year.

Redwood Trust, the only firm to publicly issue jumbo MBS in the past two years, posted a net profit of just $9 million in the second quarter, half of what it earned in 1Q, telling investors there is a lack of quality mortgages to buy at the right price.