Originations

CoreLogic, the data and analytics spin-off of the First American Corp., purchased mortgage technology vendor Dorado Network Systems for $32 million, Santa Ana, Calif.-based CoreLogic said.

I was in Wisconsin. I woke up the morning of a training program and looking out the hotel window, I noticed a light, beautiful snow falling. It was a postcard scene.

Fitch’s review of 1,246 rated subprime residential mortgage-backed securities issued between 1993 and 2008 shows that, on average, losses are relatively stable and expected defaults are still improving, but continuing housing market weakness and foreclosure delays are still driving expected loss severities higher.

New home sales fell 17% in February to the lowest level on record with cancellations ticking up again as buyers continue to deal with tighter mortgage underwriting standards.

A OneWest Bank spokeswoman has confirmed the company is exiting the reverse mortgage origination business it operated through Financial Freedom, once the dominant player in the industry.

Wow, the noise in our industry is getting louder. I typically like to write articles that give you marketing strategies and ideas you can use immediately to generate new business.

New, higher premiums on Federal Housing Administration-backed mortgages are meant to protect the government-backed program from the growing risk of losing money from loan defaults. But it will also make FHA mortgages more expensive, a key issue for homebuilders, where as many as 60% of new-home buyers use these types of loans to make their purchase.

Mortgage application volume increased by 2.7% on a seasonally adjusted basis for the week ended March 18, according to the Mortgage Bankers Association.

February brought no relief to the beleaguered home building business in California, where builders pulled fewer permits to start new houses than they did in January.

In a new forecast on the housing market Fannie Mae economists remain cautious about demand citing "consumer uncertainty" which will translate into declining originations.

The Consumer Financial Protection Bureau is going to allocate half its budget to supervision and enforcement of consumer protection laws with a strong emphasis on non-bank lenders.

Industry sources have confirmed that OneWest Bank is exiting the reverse mortgage origination business it operated through Financial Freedom, once the dominant player in the industry.

Commercial real estate services company Grubb & Ellis has hired JMP Securities as an advisor to explore strategic alternatives for the company, including a sale or merger.

A Kansas thrift has teamed up with Bankers Portfolio to refinance underwater mortgages where investors have agreed to take principal writedowns that meet requirements of a Federal Housing Administration program.

We may have reached "the chicken or the egg" stage in social media marketing: does it drive your traditional marketing efforts or it is the other way around.

TMG Financial Services, Des Moines, said its credit union Structured Finance CUSO will finance mortgage lending for credit unions through myCUmortgage, a program put together by the Wright-Pratt Credit Union of Ohio.

Forthcoming regulations could make conventional mortgages more expensive to the wide swath of homebuyers and owners who can't put 20% down, depressing originations and potentially undermining the housing recovery.

People's United Bank, which entered the warehouse space just a few months back, has already amassed applications of credit for almost $500 million, according to the company executive in charge of the program.

Mortgage bankers originated $16.8 billion of Federal Housing Administration-backed loans in February, a 27% decline from the prior month, and a sign that the spring home buying season may not be off to a rosy start.

Berkadia Commercial Mortgage LLC, Horsham, Pa., has introduced a new floating-rate commercial mortgage loan program for loan originators nationally that enables borrowers seeking to acquire or reposition properties using non-recourse commercial mortgage debt.