Originations

Mortgage rates will steadily rise in 2011, according to Freddie Mac's chief economist Frank Nothaft, and refinancing activity will slow as the year progresses.

Starwood Property Trust, a Greenwich, Conn., commercial real estate finance company, has obtained two new lines of credit totaling $275 million. These are in addition to a $350 million financing facility the company received back in August.

There have been some relative improvements seen in commercial mortgage-backed securities delinquencies recently but also some continuing concerns, suggesting that market—while improving in some respects—still could have some hurdles to clear before it bottoms out.

If there has been one lesson to heed from the current crisis is that to remain a successful mortgage professional, you need to build a referral-based business. But for quite a few people, they need to know the answer to the basic question how do they start.

Wells Fargo & Co. may soon be the most valuable bank in America based on market capitalization.

WASHINGTON—A federal watchdog agency for financial products could have prevented the 2008 mortgage crisis, according to the president’s pick to get the new Consumer Financial Protection Bureau up and running by next summer. “The crisis of 2008 was a preventable disaster,” Elizabeth Warren told a Consumer Federation of America Washington conference.

Union Bank, San Francisco, this week rolled out a 30-year, fixed rate jumbo loan, adding to its arsenal of portfolio products. The mortgage will be offered through both its retail branches and outside loan brokers that work for the company.

The National Community Reinvestment Coalition plans on challenging the policy of certain lenders that require higher credit scores on Federal Housing Administration-insured loans than the agency itself requires.

Americold Realty Operating Partnership is in the market with a $600 million securitization backed by cold storage facilities. The deal is called Americold 2010 Trust Series 2010-ART.

The economic recovery should accelerate gradually throughout 2011, with the second half of the year exhibiting more growth and job creation than the early part, according to Freddie Mac chief economist Frank Nothaft.

A bureau of the U.S Treasury Department may require mortgage brokers and independent mortgage banking firms to comply with the Bank Secrecy Act and set up anti-money laundering programs and file suspicious activity reports for the first time.

Joseph Herbst, a top executive at two large corporate credit unions that failed under the weight of risky mortgage investments, emerged last week after being hired as the new CEO for CUMAnet, a mortgage lending credit union services organization based in Basking Ridge, N.J.

Roughly one in four houses sold nationally in the third quarter were distressed properties. But according to research firm Housing Intelligence, more than half the properties that changed hands in eight metro areas were foreclosures.

That the recession has been over officially for more than a year is of little solace to downtrodden mortgage brokers. But a Fannie Mae economist said that if loan jockeys are patient, things will get better.

Though seriously wounded, the National Association of Mortgage Brokers has a lot of fight left in it.

Foreclosure property sales sold at much deeper discounts than ever and continue to represent a significant portion of total sales, yet persistent erosion of buyer demand elevates concerns about future sales and inventory growth.

One of the attributes that I see in all top producers is confidence. They excel at what they do, Realtors want them on their team and prospects easily commit to being a client for life. Having confidence is an essential part of succeeding in this industry.

A study from Demographia, A ST. Louis public policy consulting firm, finds land use regulations have driven costs in some major metropolitan markets so high that new housing has become unaffordable for consumers despite low interest rates, a study from Demographia, a St. Louis-based public policy consulting firm, claims.

Federally chartered thrifts originated $36 billion of single-family loans in the third quarter, down 8% from the previous quarter, according to the Office of Thrift Supervision.

WASHINGTON—Originations of Federal Housing Administration-backed loans should hold somewhat steady in the new fiscal year, which began just a few weeks ago.The Department of Housing and Urban Development projects that the FHA will insure $288.7 billion of single-family loans in FY 2011, down 9.4% from the previous fiscal year.