Originations

I recently came across a press release that said what I have been saying for years—the only way small businesses are able to compete against the big guys is by their emphasis on customer service.

The residential finance division of Bank of America posted a stunning loss of $13 billion in the second quarter as delinquent mortgages, expected legal settlements and charges tied to 'reps and warranties' on loans sold into the secondary market hammered its performance.

If the economy remains sluggish and credit conditions remain tight, the homeownership rate could fall another one to two percentage points, according to a study funded by the Mortgage Bankers Association.

Caliber Funding has added three new senior vice presidents to its executive management team.

MGIC Investment Corp., Milwaukee, lost $152 million in the second quarter, as new default notices outpaced cures, but it sees future opportunity to regain market share.

One Reverse Mortgage LLC, San Diego, has gotten the go-ahead from Ginnie Mae to securitize Federal Housing Administration Home Equity Conversion Mortgages.

Foundation Financial Group, the Atlanta-based company that recently opened a regional sales center in Dallas and earlier this year one in Rochester, N.Y., is in the process of adopting a more traditional retail branching strategy.

A long-time veteran of the mortgage industry is making the case that video clips, delivered over the Internet, are the answer to the problem of educating consumers, not only about the loan process, but financial services in general.

The biggest improvement a mortgage originator can make to its back office is bringing in the expertise needed to run an efficient back office, said an executive with one of the leading outsource providers of these services.

California home sales increased 1.2% on a seasonally adjusted basis between May and June, according to the California Association of Realtors.

Several months ago, Bank of America notified KB Home that it wanted to end their joint venture in the mortgage industry, which does business as KBA Mortgage, but it was willing to continue the relationship in an alternative fashion.

Two congressmen from high cost housing states have introduced legislation to extend the maximum $729,750 loan limit on government-backed loans for another two years.

Two Harbors Investment Corp., a REIT with jumbo plans and an additional equity offering in the works, was one of the most actively traded stocks on the NYSE Friday afternoon.

Citigroup's North American residential mortgage business seems to be treading water in terms of originations and servicing.

Zillow increased the expected price for common stock in its initial public offering to $16-$18, up from last week’s estimate of $12-$14, according to a new filing with the Securities and Exchange Commission.

NorthEast Community Bancorp Inc. is ready to make a gutsy move — an aggressive push into Boston that also involves originating its first single-family mortgages in roughly two decades.

Mortgagematch.com, the loan origination website launched late last year by Move Inc., is no longer pairing borrowers with loans and home listings.

For consumers looking to buy a home or refinance, mortgage rates couldn’t be better.

Mortgage brokers are complaining to Congress that the Federal Reserve’s loan officer compensation rule is tying their hands, hurting their ability to compete with banks.

On the phone you have about 10 seconds or less with your words to capture a listener's attention, break their preoccupation with whatever they were doing when you called, and place them in a positive, receptive frame of mind to share information with you and listen with an open mind.