Originations

Bank of America has decided to merge its Home Loan Services affiliate in Pittsburgh, a subprime specialty servicer, into its main servicing operation.

Responding to market demand, the Federal Housing Administration is now offering a newly modified version of the Home Equity Conversion Mortgage product that requires lower upfront premiums.

This week National Mortgage News completes its 34th year of publication and then commences its 35th. That makes it a good time to reflect both on the past, but more importantly, on the past as prologue to what is to come.

The Federal Housing Administration expects its new mortgage insurance premium structure that goes into effect Oct. 4 will increase revenues at the government insurer by $4.1 billion annually and put the fund on a stronger financial footing.

The rate-indicative 10-year Treasury yield dropped sharply Wednesday morning following investor concerns about the Federal Open Market Committee’s failure to take expected quantitative easing action to improve the economy.

Have you noticed it? There are several changes occurring in our industry as I write this piece. While it is sometimes cumbersome to stay on top of new regulations, programs, etc, I say change is good. Read on and tell me if you agree.

Mortgage applications declined 1.4% week-to-week on a seasonally adjusted basis in the latest Mortgage Bankers Association survey.

A "post-homebuyer tax credit calm." That's what they're calling it in Houston, where sales were down for the second consecutive month in August but the average price of a single-family house continued to climb.

The Treasury Department on Tuesday released a sample 4-page form that will replace mortgage disclosure requirements of the Real Estate Settlement Procedures Act and the Truth in Lending Act.

NewDay Financial became a Ginnie Mae seller/servicer a year ago, a move that is helping the Maryland-based nonbank hone in on a key market for the company: mortgages for servicemen, veterans and their families.

The Federal Reserve Board's loan officer compensation rule will "destroy" mortgage brokers and small businesses, declared Roy DeLoach, chief executive of the National Association of Mortgage Brokers.

The improvement of mortgage disclosures is a "top priority" of the new Consumer Financial Protection Bureau and was 'topic A' at a Treasury Department forum held Tuesday in Washington.

Stewart Lender Services is offering a new loss-mitigation service designed to assist lender/servicers with a significant number of Hispanic clients.

The Federal Housing Administration is bringing together lenders and investors at a Sept. 29 meeting to ensure that its new FHA short refinance program does not stumble like other attempts to address negative equity and strategic defaults.

A year ago the future looked somewhat bleak for mortgage banking firms that were the property of homebuilders: new housing starts continued to crumble and their originations were in the tank, big time. But that was 12 months ago.

Many sales people have successful coaching relationships, but there are others who feel they have wasted their time and their money. Those people quite likely only put minimal effort into choosing the person they sought coaching from. If they did put a lot of time into their decision, they might not have been using the right criteria.

The Obama administration has designated July 21, 2011 as the date the Consumer Financial Protection Bureau will take over enforcement of RESPA, TILA and other federal consumer protection laws that directly impact mortgage bankers.

Defaults on commercial real estate loans are beginning to play a larger role in the failure of FDIC-insured institutions than construction loans, according to Trepp LLC.

WASHINGTON—After a long August recess, the House and Senate have both been in session, and mortgage industry lobbyists will be looking for every opportunity to pass an extension of the $729,750 GSE loan limit.

Government-backed loans continued to grab a larger slice of the mortgage market last year, according to new Home Mortgage Disclosure Act data released Monday.