Originations

Sb1 Federal Credit Union of Philadelphia is still trying to find out how to identity thieves were able to tap into a customer's home equity line of credit, steal his private information – including passwords – and convince the credit union to wire $220,000 from the HELOC to an unrelated account in Hong Kong.

Success requires, no demands, a level of intensity that is absent in most environments. That is why most people do not produce consistent power-results.

WASHINGTON—Noting new life in the market for commercial mortgage-backed securities, a survey of industry specialists suggests that issuances could once again reach $100 billion by 2013.

Emery Federal Credit Union, Cincinnati, will become the first lender to provide mortgages through a new online origination and pricing platform being launched by NeighborWorks America, a nonprofit that focuses on housing issues.

In the wake of Bank of America leaving the wholesale business, at least two former competitors announced they would take appraisals originally intended for B of A on loans that are being submitted to them.

Total Mortgage Services of Connecticut sees a silver lining in Bank of America's recent, and abrupt, exit from the wholesale channel: the void created will help TMS grow its broker business even faster.

The head of Astoria Financial Corp. declared the outlook for residential mortgage portfolio lenders "remains challenging."

Total Mortgage Services, a fast growing New England nonbank lender, has hired Michael Dimech as its new operations chief.

Fidelity National Financial chief executive Alan L. Stinson is stepping down from that job, but remaining with the company as an executive vice president. Chief operating officer George P. Scanlon will take over the CEO job.

In drafting risk retention rules, federal regulators should consider the impact capital and accounting requirements will have on issuers of private-label MBS, according to a new report from the Federal Reserve Board.

On behalf of commercial banks, insurance companies and mortgage servicers, loan sale advisor DebtX plans to sell $1.1 billion in commercial real estate and residential loans in 10 separate transactions through early December.

Long-term fixed rates backed off record lows a bit in Freddie Mac’s closely watched weekly survey as short-term Treasury-indexed rates, which borrowers have had comparatively little interest in recently, fell slightly to record lows.

Industry veteran Tom Wind, who has headed such mortgage powerhouses as Chase Home Finance and Aurora Loan Services, has been named managing director of J.I. Kislak Mortgage LLC, Miami Lakes, Fla.

Have you ever worked for someone who made you scratch your head and wonder, "How did he get to be the boss?" Does the guy in the next cubicle proclaim his greatness on a daily basis? When five o'clock strikes, are you just thankful you have made it through the day without telling that rigid, unyielding controller how you really feel about her?

With all of the changes that were taking place in the regulatory environment in 2009, as well as the proposed changes coming on in 2010, in September of last year Victorian Finance was looking for a system that would be “more automated” than what it was currently using.

Refinancings of single-family loans and demand for rental apartments picked up in September and early October, according to the Federal Reserve Board's periodic survey of economic conditions released Wednesday afternoon.

U.S. Bancorp, Minneapolis, reported record mortgage production of $16.6 billion for the third quarter, which contributed to a 12.3% increase in its mortgage banking revenue over the previous year.

VantageScore Solutions has unveiled its new credit score model, VantageScore 2.0, which takes into account the significant change in consumer credit repayment behavior of recent years, company officials said.

Mortgage application volume fell 10.5% last week on a seasonally adjusted basis, as interest rates for fixed-rate loans increased for the first time in six weeks, according to new figures released by the Mortgage Bankers Association.

Rep. Maxine Waters (D-Calif.) announced plans for a hearing on the foreclosure paperwork debacle that has raised questions about the legality of thousands of foreclosures nationwide.