Originations

The residential lending arm of Citicorp funded $18.6 billion of one- to four-family mortgages in the third quarter, an impressive 66% gain from the prior period, according to figures released Monday morning.

An ex-real estate executive gives mortgage originators words of wisdom he learned from his father in a business downturn.Even though today’s real estate crisis is reportedly one of proportions unseen before, the truth is there are lessons to be learned from the past, the opening keynote speaker at the California Mortgage Bankers Association’s Annual Sales & Marketing Conference said.

The California housing market is transitioning from the conclusion of housing tax credits as is evident by stronger home sales in the higher-price range and weaker sales in entry-level homes and condominiums, which are typically favored by first-time homebuyers, according to the president and chief economist of the California Association of Realtors.

Small mortgage banking firms believe they've been given the regulatory shaft by the federal government and are none too happy about the HAMP program as well, according to the just released MORTECH 2010 Report.

Former Countrywide Financial Corp. co-founder and CEO Angelo Mozilo and two of his top lieutenants at the once highflying lender/servicer have agreed to settle a massive civil fraud complaint filed against them by the Securities and Exchange Commission.

The 30-day plus delinquency rate on commercial mortgage-backed securities edged up in September to a new record of 9.05%, according to Trepp LLC.

Federal Reserve chairman Ben Bernanke’s speech Friday strengthens the case that the Fed could take action on more asset purchases and strengthen “extended period” language at its November meeting, putting more downward pressure on mortgage rates.

Multifamily lenders closed $52.5 billion in loans in 2009, down 40% from the prior year, according to the Mortgage Bankers Association.

As a result of increases in criticized and classified assets along with increases in other real estate balances that raise the risk profile, A.M. Best Co., Oldwich, N.J., has downgraded the financial strength rating to “bbb” from “bbb+” and issuer credit rating to “bbb” from “bbb+” of First National Bank.

The Pennsylvania Department of Banking's Bureau of Compliance, Investigation, and Licensing has launched an initiative to identify unlicensed mortgage activity in Pennsylvania. The department will target all mortgage licensees and is expected to continue into 2011.

Over the years, I’ve given out reams of advice to people on how to do great press interviews, but sometimes it’s difficult to cover all the bases. After all, the way I got smart about the media was to make mistakes and learn from them.

As we begin the last quarter of 2010, our housing finance system (as well as those of some other countries) is still struggling in the wake of the great housing bubble of 2000-06 and its collapse into the panic and serial crises of 2007-09.

The nation's foreclosure crisis has resulted in loan closings being scuttled in some regions of the nation and fears are mounting that if the situation isn't rectified soon it will damage the one area where lenders are posting stellar profits: new originations.

For a short two-week period, the Rural Housing Service was guaranteeing loans again, but that came to end on Oct. 1.

Freddie Mac found the latest drop in the 30-year rate brought it to a level that the Federal Housing Administration suggests may have last been seen in 1951 and recent Fed statements suggest more possible downward pressure could be seen.

September was the best month ever for closed mortgages at Quicken Loans Inc., $3.4 billion, which equates to approximately 15,500 loans.

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.

Rental apartments are the favorite sector for real estate investors, according to an annual survey conducted by the Urban Land Institute and PriceWaterhouseCoopers.

It often seems as though men and women are from different planets, but every day millions of couples navigate through day-to-day and even life-altering decisions. Because a home is the biggest purchase most people will make in their lifetime, we surveyed 1,000 individuals to discover how much men and women differ in the home-buying process.

Buybacks and other foreclosure crisis-related concerns are changing the mentality of originators. And nobody can see it more clearly than vendors who are trying to keep up with their clients’ mortgage technology needs.