Originations

At age 19, his application to Harvard Business School was rejected. He was devastated at the time.However, exploring other options, he quickly regrouped and sent in a late application to Columbia, where two investment experts that he admired were teaching. He was accepted. There he learned the values and principles that guided his investing.

Depositories could easily finance the demand for jumbo mortgages if Congress decides to substantially reduce GSE loan limits, according to a conservative think tank analyst.

The Treasury Department's 'white paper' on the future of the GSEs not only calls for the federal government to cut the government umbilical to Fannie Mae and Freddie Mac, but estimates that certain mortgage rates could rise upwards of 150 basis points, according to sources who claim to be familiar with some of the plan's contents.

Triumph Savings Bank, Dallas, this week hired industry veteran Barry Epstein to manage its new warehouse lending division, and plans to cater its effort to small nondepository mortgage bankers.

First Bancorp, San Juan, Puerto Rico, has entered into a definitive agreement to sell a loan portfolio with an unpaid principal balance of $516.7 million and a new book value of $438.5 million that is largely comprised of construction loans, but also contains some commercial real estate and commercial loans.

Home values fell 2.6% between the third and fourth quarters, their largest drop since the first quarter of 2009, as any push from the home buyer tax credits evaporated, said the latest Zillow Real Estate Market Report.

African-Americans and Latinos borrowed 62% less in 2009 to purchase or refinance homes when compared with 2004, while mortgages to whites declined by just 17% during the same time frame, according to a study of Home Mortgage Disclosure Act data by ComplianceTech, Arlington, Va.

The House Financial Services Committee wants to cut off all federal funding for NeighborWorks America, which supports hundreds of community-based groups that provide safe and decent housing for low-income families.

In our past few articles, we have been discussing the one sentence that will generate more clients for you. Here’s the sentence: People will do anything for those who encourage their dreams, justify their failures, allay their fears, confirm their suspicions and help them throw rocks at their enemies.

The seasonally adjusted application volume index fell by 7.7% from the previous week as mortgage rates shot up to their highest point since last spring because of stronger economic growth than anticipated, according to new figures released by the Mortgage Bankers Association.

When it comes to restructuring the housing finance system, the new chairman of the Senate Banking Committee wants to ensure that safe, 30-year fixed-rate mortgages will available to homebuyers with all lenders having equal access to the secondary market.

A rated small-balance commercial mortgage-backed securities deal appears to be the first seen in some time.

The Department of Housing and Urban Development has issued a mortgagee letter establishing a procedure for when counseling agencies can waive the fee for Home Equity Conversion Mortgage counseling services.

The National Association of Independent Housing Professionals said it will sue the Federal Reserve over its looming loan officer compensation rule, charging that the regulation is illegal and should be withdrawn because the agency "failed to demonstrate even a remote correlation between a mortgage loan originator's compensation and abusive, deceptive or unfair practices."

The vacancy rate on apartment rental units fell almost a full point to 9.4% on a nationwide basis in the fourth quarter, the largest drop on record, and a sign that multifamily values are poised for a boom.

Commercial mortgage-backed securities could make a relative comeback this year. But issuance will likely still be a far cry from what it was at the height of this market.

Housing values fell during the last five months of 2010, but year-over-year were unchanged, according to CoreLogic's new home price index, which includes sales of foreclosed properties.

Consumers are developing a negative perception of the mortgage origination process, with nearly one third of the respondents in a MortgageMatch.com survey complaining that understanding the process and coping with lenders’ requirements are the most challenging aspects of getting a home loan.

Real estate agents are reporting more shoppers out looking for homes, spurred in part by the looming threat of rising mortgage rates. But in its latest survey of agents and additional research Credit Suisse published Tuesday, underwriting is still constrained and the limited availability of financing is slowing activity.

CMG Mortgage Services is becoming something that is increasingly rare: a nonbank lender with strong growth and a franchise model that relies on both retail lending and loan brokers.