Originations

The perception of a strengthening economy was the catalyst behind the increase in rates for the 30-year and 15-year fixed-rate mortgage this week, according to the most recent Freddie Mac Primary Mortgage Market Survey.

Ally Financial Inc., which controls the nation's fifth largest mortgage banking firm, plans to go public this year and is interviewing investment bankers for its initial public offering, according to sources familiar with the plan.

Flagstar Bancorp had a good fourth quarter, according to the analysts at FBR Capital Markets, “considering the drastic strategic actions the company had to take.”

The chairman of Fort Worth, Texas-based homebuilder D.R. Horton said foreclosures and tighter mortgage lending standards are among the items hurting his company’s performance.

Thrift industry veteran George Engelke announced that he will step down as CEO of Astoria Financial Corp., a top ranked residential and multifamily lender in the New York area, but will remain as chairman of the company. His departure date is July 1.

Read the scenarios below and ask yourself—which type am I? No. 1. The customer says (either on the phone or in person): "Tell you what—I've decided not to take the Blue Widget." Answer from a passive person: "OK, thanks." Customer feels nothing.

Now that residential application volumes are on the wane—thanks to rising mortgage rates—the obvious question becomes the most gut wrenching: When will mortgage bankers begin cutting heads and which firms will bite the dust?

Tight credit conditions, higher mortgage rates, and a big drop in refinancings will push residential originations below $1 trillion this year to levels not seen since 2000, according to economists at the Mortgage Bankers Association.

In the first full year of operation under New York Community Bank ownership, the former AmTrust residential mortgage banking platform produced $10.8 billion in loans in 2010, with $3.8 billion coming in the fourth quarter.

PHH Corp., Mt. Laurel, N.J., expects to more than double its fourth quarter profit to $181 million, thanks in part, to a huge upward adjustment concerning the value of its residential mortgage servicing rights.

The sector of real estate investment trusts that specialize in the secondary mortgage market will post returns on equity averaging in the mid-teens for the fourth quarter, a Credit Suisse analyst predicted in research released this week.

Flagstar Bancorp Inc., Troy, Mich., lost $192 million in the fourth quarter of 2010, compared with a loss of $23 million in the third quarter of that year and a loss of $72 million for the fourth quarter of 2009.

One of the things I enjoy most is reading books on sales and influence (also known as persuasion). It may sound strange to you at first. But stop and think about it. Isn’t everything we do everyday involved in persuasion and trying to convince someone to do what you want?

Consumers bought just 321,000 homes in 2010, the lowest reading in almost half a century, according to preliminary figures released Wednesday morning by the Census Bureau and the Department of Housing and Urban Development.

The seasonally adjusted application volume index fell by 12.9% from the previous week spurred by refinance applications falling to their lowest number in the past 12 months, according to new figures released by the Mortgage Bankers Association.

Almost two-thirds of "middle income" Americans between the ages of 55 and 75 are unsure if they have saved enough to live comfortably in retirement.

Bank of Hawaii Corp., a top ranked residential funder in the state, reported fourth-quarter earnings of $40.6 million, flat compared to the same quarter a year earlier.

SettlementOne, San Diego, a holding company with interests in credit data and appraisal management, recently named Joe Bryant national sales manager.

Home prices fell another 1% in November and values are just 3.2 percentage points above their April 2009 low, a sign that a double dip recession is in store for the nation's housing stock, according to figures compiled by Standard & Poor's/Case-Shiller.

Those of us of a certain age, as they say, remember Bobby McFerrin's song "Don't Worry, Be Happy." And while that might be a personal philosophy on how one should live, to many it doesn't make sense as a business strategy.