Mortgages

Another big year for multifamily construction could push housing starts up 13% in 2012 after posting a 4% increase last year, according to a new forecast from Wells Fargo Securities.

November was the second best month of last year in terms of new private mortgage insurance written, but new applications received declined from October, according to the Mortgage Insurance Cos. of America.

Commercial mortgages had a mixed year in the securitized secondary markets during 2011 and the outlook for 2012 is that the sector still faces some hurdles but may hold some opportunities.

"Nothing happens until something gets sold." I've repeated this statement in just about every article I've written about business and the selling process. My instructional and training philosophy is simple, easy and effective so it would stand to reason that you don't have to have an IQ off the charts to comprehend my approach to sales training and coaching.

Wholesale lender 360 Mortgage Group has been dropping overlays on the conforming loan products it sources from mortgage brokers and at press time planned to ship the bulk of its production to the agencies rather than correspondent purchasers.

MGIC Investment Corp., at yearend contributed $200 million of cash to its mortgage insurance subsidiary as two important capital waiver deadlines expired.

House prices may go up and down over the next two years. But looking back it will appear relatively flat. That’s why it is a good time for patient investors to buy foreclosed properties, according to Rick Sharga, EVP, Carrington Mortgage Services.

BOFI Federal Bank, San Diego, is ready to kick off its new warehouse lending business, targeting correspondent lenders.

The Army Times' 2009 Soldier of the Year is now a homeowner, thanks to GMAC Mortgage.

As 2012 begins, the California Department of Real Estate is still warning consumers to be wary of promises for loan modification, mortgage relief and foreclosure rescue scams as fraudsters to continue prey on vulnerable, financially stressed homeowners.

A global settlement has been reached between Knauf Plasterboard Tianjin and thousands of homeowners who filed a lawsuit who claimed that the company’s tainted Chinese drywall product was used to construct their properties and severely damaged their homes.

Commercial real estate is expected to make a subtle rebound this year and some community bankers are gearing up for the return.

Despite a sluggish mortgage origination market, an energetic atmosphere surrounds technology advances in this sector of specialty home finance. “There’s never been a more robust selection of tech for originators,” said Jeff Taylor, president of Wendover Consulting.

A term being passed round lately about many lenders is sustainability. Businesses need to have a strategy in order to survive long-term. Looking back at a list of the top 30 originators from 2001 shows that 19 of those companies are no longer in business, either having shut their doors or merged with other entities.

Between foreclosures and paying down their loans through “cash-in” refinancings, the nation’s mortgagors are continuing to whittle down their housing debt—and that’s bad news for the nation’s servicers.

As it shifts into a more customer-driven philosophy, insiders say, the mortgage servicing business model is becoming more woman-friendly than ever.

Patrick Thesing has been named the chief compliance officer for Houston-based Stewart Information Services Corp.

The title insurance unit of First American Financial Corp. has agreed to acquire Hexter-Fair Title Co. in Dallas.

Of the 11 largest servicers evaluated through the Fannie Mae Servicer Total Achievement and Rewards program, only CitiMortgage, Everbank, GMAC Mortgage (Ally Bank) and Wells Fargo made a satisfactory grade in the third quarter.

The National Association of Realtors said that it overestimated home sales by nearly 15% in 2010, an indication that the housing market is in even worse shape than many experts previously thought.