Originations

The Law of Continuous Process Improvement begins with the concept that a plan is needed in every area of your business and your life. But every plan requires continuous analysis and adjustment to find the way forward. Even basic task need a plan and a process of continuous improvement.

Banco Popular de Puerto Rico, the principal banking subsidiary of Popular Inc., in January signed a letter of intent to sell approximately $500 million of construction and commercial real estate loans. The transaction is expected to close before the first quarter of 2011 ends.

Mortgage companies sharply cut their payrolls in January by 10,300 full-time positions, a reaction to both declining loan applications and a weaker outlook for originations.

The government's embattled Home Affordable Modification Program lost momentum in January as the number of newly approved loan restructurings fell below 30,000 for the first time since October.

Wells Fargo & Co. once again ranked first among all residential funders in the most recent quarter with its market share jumping almost a full point to 24% -- one of the highest readings on record, according to figures compiled by National Mortgage News.

The Department of Housing and Urban Development has slated $50 million in “capacity-building” grants that will give an economic boost to over 250 low-income communities across the country.

Georgia Senator Johnny Isakson declared on the Senate floor late Wednesday that if federal banking regulators have their way with the risk retention rules — namely a 20% downpayment stipulation — they will derail the nation's housing recovery.

Helios AMC, a specialty servicer of defaulted commercial real estate loans and other debt, this week hired industry veteran Keith Johnson as its chief executive effective immediately

The long-term rate-indicative 10-year Treasury yield as of late Thursday morning had seen a notable rise to 3.56% from as low as around 3.4% Wednesday.

Securitized commercial and multifamily mortgage delinquencies are at the highest level since the Mortgage Bankers Association started tracking such data in 1997.

Mobile technology is the future of mortgage finance, with a breadth of utilities and uses that will touch virtually every aspect of the industry.Early adopters are using smartphones and of late, tablet computers, to improve efficiency and facilitate day-to-day tasks outside the office.

It used to be that if you called the FHA Hotline to find answers to your underwriting questions, you’d be on hold forever. Worse yet, if you used their advice and it was wrong, you’d could not trace who gave you the answer—nor would they give you the chapter and verse from the HUD manual.

The latest average 30-year rate has dropped for the third consecutive week, bringing it to about 0.2 percentage points below the year’s high set just three weeks ago.

Wells Fargo Home Mortgage is exiting the reverse mortgage wholesale production channel, a spokesman confirmed. However, it still will originate these loans through the retail channel.

Hudson City Bancorp, an active correspondent buyer of residential loans in the mid-Atlantic area, revealed that it soon may become the subject of an "informal regulatory enforcement action" known as a 'memorandum of understanding.'

While residential sales remain at low levels, some Federal Reserve district officials are noticing increased foot traffic at open houses with their contacts expecting a bounce in home sales this spring, according to the agency's new 'Beige Book.'

Ally Financial said late Wednesday that the U.S. Treasury will be repaid $2.7 billion from the sale of all the Trust Preferred Securities that the agency holds in the bank holding company and mortgage lender.

The Ventas Inc. acquisition of Nationwide Health Properties “reinforces the buzz in the health care REIT industry,” declared an analysis of the deal by Zacks Equity Research.

Daniel Jacobs, the former chief executive of 1st Metropolitan Mortgage, is keeping his hands in the branching game, albeit from an employee-employer matchmaker role.

C-BASS founders Bruce Williams and Saul Sanders are talking to mortgage banker New Penn Financial, Plymouth Meeting, Pa., about buying the company, according to three sources familiar with the deal.