Mortgages

An index from the National Association of Realtors that tracks pending home sales edged up 2% in January to the highest level since April 2010 when the government was still handing out homebuyer tax credits.

MetLife may be exiting the residential lending business, but in the commercial mortgage business, it is going strong as it produced over $11 billion in new loans last year, its best year ever. In 2010, the company had production of $8 billion in commercial real estate loans.

CMBS performance still appears to be stabilizing somewhat, at least for the time being, recent commentary from Moody's Investors Service indicates.

Business abandoned by some the nation's largest mortgage lenders as they have shuttered major production channels, or closed shop entirely, has mostly landed at other mortgage giants.

The same benefits and legal foundation that guide mortgage lenders' paperless origination capabilities are now being applied by servicers performing loss mitigation, according to a panel at this week's Mortgage Bankers Association servicing conference.

As companies like MetLife exit the business, creating new office and personnel recruitment opportunities for mortgage lenders, a survey from Hammerhouse LLC of originators found that 42% are looking for corporate culture and leadership from a possible new employer.

Testimonials, in their most basic sense, are others selling you and your services. A third party recommendation of your work can be a powerful marketing tool. Someone had a positive experience with you and in turn, has the ability to influence potential clients. If utilized effectively, you can't get a less expensive, more persuasive marketing strategy.

Servicing regulations and oversight aren't new concepts for mortgage bankers, but the motivation and processes are evolving to meet the demands of current market conditions.

Weeks after state and federal officials said they would ensure borrowers still had the right to sue servicers even under the $25 billion mortgage settlement, the Office of the Comptroller of the Currency appears ready to follow suit.

FACTS: On Feb. 13, Patricia Ann King of Bakersfield, pleaded guilty to aiding and assisting the preparation of a false tax document and to three counts of mail fraud for her role in a mortgage fraud scheme.

State and federal disclosure differences could be a challenge as U.S. regulators continue to work toward improving the Good Faith Estimate and consumers' understanding of it.

Twenty-four hours after Bank of America told Fannie Mae to take a hike on secondary market purchases, the realization is starting to sink in that one party -- the GSE -- may stand to lose a lot more than the seller/servicer.

Flagstar Bancorp, the nation's ninth largest residential lender, late this week agreed to pay up to $133 million to settle claims regarding unspecified underwriting practices associated with loans insured by the Federal Housing Administration.

First off, I'd like to thank the crew at Bank of America for continually giving mortgage reporters and editors something to write about. Don't get me wrong--there's plenty of good stories out there. And let's face it--and you read it here first: What happens regulatory and legislatively over the next three to four years should shape the future of this industry for the next 50 years.

The National Association of Home Builders is forecasting a modest but measured improvement in the remodeling and renovation sector, which has been troubled by the same conditions that have inhibited the new home sector.

Builders put up the fewest houses last year since World War II, but they were the largest houses ever.

The Consumer Financial Protection Bureau received about 2,300 complaints about mortgage servicers in December, when it began accepting complaints online, and the pace of borrower complaints has been steady ever since, according to a senior agency official.

First American Financial Corp., Santa Ana, Calif., earned $40 million in the fourth quarter, a 14% decline from the same period a year earlier as direct premiums and escrow fees fell slightly.

While United Guaranty Corp. posted an operating loss of $23 million in the fourth quarter, it was the private mortgage insurance industry's most prolific underwriter for the second quarter in a row, with new insurance written of $7.1 billion.

Bank of America Corp. is switching its U.S. employees -- according to its mortgage workers -- to a single defined contribution retirement plan at the end of the second quarter.