Originations

Large originators and servicers have long relied on the efficiencies and cost savings of outsourcing, some going as far as building their own offshore facilities, known as “captives” among business process outsourcers. But now, outsource vendors are offering custom fulfillment services, combined with loan origination technology, to small and midsize lenders.

A differentiation needs to be made between marketing and inducement. Can they really be confused when they seem to serve such different functions? Sometimes rather easily as it turns out.

Loan brokers and correspondents that live in fear of mortgage buy back requests from secondary market investors may have a new nemesis to worry about: the Federal Deposit Insurance Corp.

Second quarter mortgage banking revenue at U.S. Bancorp, Minneapolis, was $239 million, up 20% from the first quarter's $199 million but down nearly 2% from the second quarter 2010's $243 million.

The sales pace of existing homes remained unchanged in June amid reports of cancelled contracts and tighter credit standards for mortgage applicants.

Hudson City Bancorp Inc. is looking for opportunities to increase its residential mortgage originations operations to take advantage of the upcoming drop in the conforming loan limits, its top executive said. The company reported net income of $96 million for the second quarter, down from $143 million one year prior.

Zillow completed its initial public offering, listing its common stock on the NASDAQ exchange at $20 a share.

The amount of equity America's senior citizens have in their homes continues to decline, although it is still well above what they had 11 years ago.

The top executive at a senior housing/healthcare lender says borrowers for these types of properties should be able to rely on relatively low interest rates for the foreseeable future, but the long-term outlook is less certain. It all depends on how policy makers balance concerns about inflation, indebtedness and sustainable growth scenarios.

When the Consumer Financial Protection Bureau officially opens its doors Thursday, the new agency will be ready to field complaints about credit cards – but not mortgages or servicing performance.

Flagstar Bank had $1.7 billion of warehouse commitments at the end of June, a 28% jump from the same period a year ago, and a sign that originations in the primary market might be healthier than some people anticipate.

Mortgage applications increased by almost 16% for the week ending July 15 with interest in refinancings at their highest level of the year, according to new figures compiled by the Mortgage Bankers Association.

The Goldman Sachs Group Inc. indicated its second quarter was a difficult one that included significantly lower results in mortgages, but it still was able to produce $1.85 diluted earnings per common share.

Sandler O'Neill & Partners Tuesday upgraded its ratings on Genworth Financial, calling the company a "buy" because its share price is declining as a result of its U.S. mortgage insurance business.

After targeting two branch offices of Prospect Mortgage for an audit, the HUD Office of Inspector General is urging the Federal Housing Administration to conduct full underwriting reviews to protect the agency from paying potential claims on 166 delinquent FHA-insured loans.

Single-family housing starts unexpectedly jumped 9.4% in June from the previous month with multifamily activity spiking 32%.

This legislation might as well be called "The Kick the Can Act" and for once, its backers aren't ashamed to admit it. In fact, they're damn proud of it. It's the whole point.

Wells Fargo & Co., the nation's largest residential originator, funded $64 billion of new home loans in the second quarter, a 31% decline from 1Q and a sign that mortgage bankers are in for some tough sledding in the months ahead.

The Obama administration’s plan to reduce the high end of the Federal Housing Administration’s loan limits will do little to help what should be its target markets of first-time, minority and low-income homebuyers, a report from George Washington University’s Center for Real Estate and Urban Analysis declared. If anything, to help those markets, further reductions in the ceiling and floor are needed.

While the future of Fannie Mae and Freddie Mac remains uncertain, there are a number of things the two are doing to improve their operations and financial soundness, according to Patrick Lawler, chief economist and associate director of the Federal Housing Finance Agency.