Originations

With a good size jump in starts in March, the California Industry Research Board is now looking for an overall increase in production this year.

BALTIMORE—A year ago, the folks who work in Freddie Mac’s multifamily section were sitting around waiting for the phones to ring. Now they can’t keep up.

New home sales jumped 11% in March and the government revised upward its estimate of February and January sales by 31,000 units.

In 2010, commercial and multifamily mortgage origination volumes increased to $118.8 billion, up 44% compared to 2009, according to the Mortgage Bankers Association. And first liens accounted for 92% of the total dollar volume closed.

National Penn Bancshares Inc. in Boyertown, Pa., reported a big increase in profits, which it attributed largely to improved credit.

First Niagara Financial Group Inc. in Buffalo, N.Y., reported a slight dip in earnings compared with the previous quarter as it completed its acquisition of NewAlliance Bancshares Inc.

Whitney Holding Corp. in New Orleans reported a profitable first quarter on Thursday, a day after the company that is buying it did the same.

WASHINGTON—The National Association of Independent Housing Professionals is giving up—for now—on its legal battle against the Federal Reserve Board to block the agency’s just-implemented loan officer compensation rule.

No part of the mortgage business is more ubiquitous in the use of celebrity spokespeople like the reverse mortgage segment.

Redwood Trust officials have been hearing plenty of talk about other firms entering the jumbo MBS space—but aren’t holding their breath about seeing new bonds issued anytime soon.

The Federal Housing Administration has selected 18 lenders to test borrower demand for loans that can make their homes more energy efficient.

SunTrust Banks, Atlanta, had mortgage production and servicing income of $71 million for the first quarter, down 35% from the fourth quarter 2010 due to lower mortgage production volume and reduced gain on sales margins.

Despite heavy refinancing volume in the fourth quarter, mortgage lenders faced operational cross currents that reduced their profits on every loan produced.

The U.S. Department of Housing and Urban Development will provide nearly $65 million to help improve or create housing and economic development opportunities for low- to moderate-income Native-American families nationwide.

Numerous mortgage brokers and loan officers apparently rushed to get as many loans as possible into the pipeline before their compensation plans changed this month.

The Federal Home Loan Bank of Boston this week filed a complaint seeking to rescind the purchase of nearly $6 billion of MBS whose collateral is underpinned by loans to homeowners with sketchy credit.

The average primary market rate for a 30-year fixed-rate mortgage during the week ending April 21 dropped to 4.80% with 0.7 of a point from 4.91% the previous week, according to Freddie Mac.

Home prices fell 1.6% in February after a 1% dip in January as the GSE regulator's house price index hit yet another new low since values reached their peak in April 2007.

Not all mortgage lenders saw loan production fall off the table in the first quarter. Astoria Financial Corp., Lake Success, N.Y. funded $707 million of residential loans for its portfolio in 1Q, a 10% jump from 4Q.

The meeting is going on and on. Your boss is rambling. You get the gist of the concept. You're bored. Your mind drifts. You wonder if you've got any new messages on your smartphone. Who will notice if you sneak a peek?