Originations

Expert says it is a matching game that is not just based on the LO’s volume.The mortgage sales business will be challenged in 2011 as originators compete to attract the higher-quality loan officers, an executive with recruiting firm Hammerhouse LLC commented.

MetLife Bank has hired industry veteran Jess Lederman to head its fledgling correspondent lending division, the last piece in the company’s plan to become a top five player in mortgage banking.

For any type of insurance company to be successful, it needs to properly price the risk it is taking on in the event it has to pay out a claim. At several of the private mortgage insurance companies, the notion of enhanced risk-based premiums has taken on new life, spurred by the events of the past few years.

Zeroing in on loan-level risk these days involves a process that essentially aims to reverse-engineer the underwriting problems that caused the recent downturn as market participants, particularly those with a stake in the distressed product space, have increasingly focused on collateral valuations at the micro-market level.

The reverse mortgage industry is poised for a strong 2011. There is a continuing, growing need for reverse mortgages just as new products and lower pricing promise to open up the market to more seniors.

Not only is the Obama Administration pledging to wind down Fannie Mae and Freddie Mac over the next seven years, but its new plan makes it clear that it will constrain the growth of the Federal Housing Administration's single-family loan program.

JPMorgan Chase & Co. put a top executive in charge of managing its home lending business two days after acknowledging to Congress that some military personnel customers faced improper foreclosures.

The percentage of potential first-time homebuyers in California tied a record high in the fourth quarter at 69%, due to low interest rates and continuing price declines.

The most recent jump in the 30-year rate above 5% could stall refinancings but if traditional cyclical expectations hold the economic optimism spurring the increase could bolster purchase volumes.

I suspect that no one will argue that employee trust is a good thing. Sometimes there can be some surprises, though, when questions are asked about what exactly the payoff might be.

The Department of Housing and Urban Development is planning to increase annual premiums for FHA-insured loans by 25 basis points in April.

The performance of high-balance loans is not going help Federal Housing Administration increase its capital and could be risky for the government-backed insurance fund, according to a study published by two George Washington University professors.

Private markets would be the primary source of mortgage credit going forward under the Obama Administration's plan to reform the housing finance system.

The delinquent loan inventory at two of the nation's largest private mortgage insurers continued to shrink in January, albeit by small amounts, according to data released by both companies.

ISGN, a technology vendor with products across the entire spectrum of mortgage finance, is considering offers for the company, or possibly strategic partnerships, according to industry observers familiar with the matter.

Sales of existing single-family homes in Florida declined by 10% in the fourth quarter, with the median sales price down 5% year-over-year.

The mortgage division of Equifax, Atlanta, had fourth quarter revenue of $29 million, up 27% from the same period in 2009.

The new chairman of the House GSE subcommittee is looking for "immediate steps" Congress can take to reign in Fannie Mae and Freddie Mae and reduce their role in the mortgage market.

Kinecta Federal Credit Union, Manhattan Beach, Calif., which turned a $71 million 2009 loss into a $15 million net for 2010, said it has opened a Midwest operations center in Rosemont, Ill. this month as part of the CU's expansion of its wholesale mortgage lending division.

Mortgage banks are finding that their use of technology is one of the most important tools that affects every facet of their business. An online presence extends marketing reach, loan origination technology ensures customers get their loans underwritten and closed as quickly as possible, and system wide accounting and communication tools allow the main office to facilitate efficiency and cost saving strategies on the branch level, all while keeping an eye on the bottom line.