Originations

Where are the hot home building markets? According to a new report, new construction accounts for more than one-third of all closings in just seven somewhat surprising places where there is "an inordinately large emphasis" on new as opposed to used.

The 12 Federal Home Loan Banks reported a combined profit of $326 million the second quarter — unchanged from the previous period — despite a jump in losses from private-label mortgage-backed securities.

Research conducted by VantageScore Solutions counters the popular notion that a consumer's credit score would take a big hit if his or her mortgage were to be modified.The company's president and chief executive Barrett Burns continued that entering a trial modification program would have no impact on the credit score in most circumstances.

Here are 10 tips for building a revenue-generating mailing list for e-mail marketing.As property buyers encounter more tools and avenues to get mortgage quotes, it's important to reinforce the value of doing business with your firm. One of the best ways to build a relationship with prospects and explain your value is by using e-mail marketing.

Washington-While the government's HAMP program has had limited success, proprietary loan mods have become an important safety net.

Ari Karen, a partner at the Maple Lawn, Md.-based Offit Kurman who represents financial institutions in labor and employment matters, has written an opinion piece on loan officer compensation issues.

The Federal Housing Finance Agency is seeing significant improvement in the quality of new business at Fannie Mae and Freddie Mac as a result of tighter underwriting standards promulgated by the two.Moreover, FHFA chief Edward DeMarco said when it comes to loss mitigation efforts, the GSEs are making inroads, thanks to "more aggressive modifications" and other foreclosure prevention activities.

Federal Housing Administration lenders originated $26.4 billon of single-family loans in June, an 18% increase from May, according to new figures released by the agency.

The House of Representatives quickly passed a slimmed-down FHA reform bill Friday that appears to be an attempt to make it easier for the Senate to pass legislation before the August recess.

A coalition of real estate and consumer groups is pressing federal regulators to ban the use of "private transfer fees" that require home sellers to pay a percentage of the sales price to third parties.

Sometime it is easier to see your performance by looking at another industry."I'm looking for a smooth ride," I told the tire salesman.

Fannie Mae issued $40.2 billion of mortgage-backed securities in June, up 11% in May, but far below the $130 billion it issued in the same month a year ago during a major boom in refinancings.

Almost 26% of consumers have FICO scores below 600, an increase from the past two years and a reading that indicates it could be next to impossible for these borrowers to get a new mortgage.

John Robbins, who five years ago sold his nonbank mortgage firm to Wachovia at a nice profit, is looking to reenter the industry, according to officials familiar with his plans.

The mortgage insurance unit of Genworth Financial lost $40 million in the second quarter, a marked improvement from the same period last year when it spilled $134 million of red ink.

A high ranking Democrat on the House Financial Services Committee wants to explore ways of recouping the cost of placing the government-sponsored enterprises into conservatorships.

Customer loyalty. lofty goal, but what does it mean? And who are our customers? Is it just borrowers, or is it everyone we do business with? In today's tough mortgage market, with dramatically decreased origination volume, and consumer confidence in the mortgage industry at an all-time low, attracting new business has never been more competitive. Establishing and maintaining loyalty with borrowers, referral sources, vendors-all are paramount to long-term success.

It is no understatement to comment that the Internet has transformed the mortgage lending industry in many ways. The point-of-sale has been influenced tremendously, with borrowers quickly becoming accustomed to rate shopping during the refinance boom and lenders providing an ever-increasing number of online tools to cement relationships. That lenders are rarely able to replace the human element entirely is really not a surprise. With financial decisions of great magnitude, consumers feel better about things when there is a live, knowledgeable person to help them. But technology has taken lending a long way in making the loan experience better for consumers, and more improvements are on the way.

Top-flight loan officers in search of job security have been fleeing the confines of nonbank lenders for the megabanks, in search of job security and a future. But it now appears some of these LOs are headed back to the nonbanks because the big boys take much too long to close a loan.What's at stake here, quite simply, is loan commissions. Not only are there reports of firms like Bank of America and Wells Fargo tightening the hatch on how much they pay in commissions, but because these lenders take so long to close a mortgage, some Realtors won't give certain branches referrals anymore.

The Conference of State Bank Supervisors is endorsing legislation that could help restart the securitization market for small commercial mortgages held by community banks.