Originations

A title industry executive claimed at the Real Estate Providers Council's annual meeting in Las Vegas that "too many" vendors have their hands in the residential real estate cookie jar.

The Federal Reserve Board said it will host a webinar March 17 to provide "updated information" and answer questions about its controversial loan officer compensation rule, which goes into effect April 1.

In what could be called the housing finance industry's version of "Scared Straight," a veteran regulatory attorney read the riot act to a group of industry executives in Las Vegas, warning them that the new Consumer Financial Protection Bureau can be expected to come down hard on mortgage firms that don't toe the line.

Charter Oak FCU here has been named Eastern Connecticut's No. 1 Mortgage Lender, based on data compiled by The Warren Group. No CU in Eastern Connecticut has ever earned top mortgage lender honors.

A majority of business economists believes federal regulators should require a high down payment on "qualified residential mortgages" that will be exempt from risk retention.

The National Association of Independent Housing Professionals on Monday sued the Federal Reserve Board in U.S. District Court, seeking to block the agency's controversial loan officer compensation rule, which becomes operative April 1.

The Department of Housing and Urban Development's inspector general found "systemic problems" in lenders' compliance with underwriting requirements for Federal Housing Administration loans.

The $2.6 billion in new CMBS delinquencies last month that brought late-pays in that category to a new high of 8.76% included five loans or portfolios greater than $100 million, according to Fitch Ratings.

NetMore America Inc., Walla Walla, Wash., a $700 million a year originator, has merged its operations into InterBank Mortgage Co., Northbrook, Ill., according to industry sources.

PARK CITY, UT—Among the numerous and often futile efforts to keep troubled borrowers in their homes, a former IndyMac Bank executive believes real estate agents represent a largely untapped resource.Not agents who list and sell foreclosed properties, said Ray Mathoda, who now bills herself as a housing industry social entrepreneur.

John Rodgers has built a top producing business around helping service members relocating to North Carolina.Military personnel who are purchasing houses have many of the same needs and desires that the civilian population does

Among the drivers of the wave of cash-in refinancings in the fourth quarter was consumers looking to bring their jumbo mortgage down to the conforming limits to benefit from lower rates and fees, an analyst with Braver Stern Securities said.

Fannie Mae and Freddie Mac refinanced roughly 3.6 million loans in 2010 with 11% of that volume tied to high LTV loans processed under the Home Affordable Refinance Program, according to new figures released by the Federal Housing Finance Agency.

The House Financial Services Committee late this week voted to terminate a Federal Housing Administration principal reduction program designed to refinance underwater borrowers.

Redwood Trust’s second jumbo mortgage-backed securitization closed last week and it showed, according to Redwood, that loans can be financed in this market with rates just 0.5% above the government-sponsored enterprise market, which bodes well for the long-awaited private market’s possible return.

Flagstar Bank ended the year with $1.87 billion of outstanding warehouse commitments, a 23% jump from the same period a year ago, according to survey figures.

Summit Bank, Prescott, Ariz., would be "an attractive acquisition" for a mortgage bank or Small Business Administration lender, the institution's president said.

The Center for Responsible Lending late this week weighed in on the 'qualified residential mortgage' debate, saying that a 20% down payment threshold will materially shrink the overall borrower market.

State Employees' Credit Union, Raleigh, N.C., late this week announced that it is eliminating appraisal fees for home equity lines of credit and closed-end second liens.

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.