Steadily rising mortgage interest rates and a tepid recovery in housing markets point toward a further decline in mortgage origination activity in the second half of this year, industry experts predict. The consensus view of mortgage industry economists is that new loan originations are likely to decline by about 30 percent this year, compared to... [Includes one chart and one graph]
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New technology can propel a revolutionary change in business processes and efficiency, but the adaptation of electronic mortgage solutions has been a very gradual process that is still largely confined to distinct phases of the lending cycle. Although a number of lenders offer electronic delivery of various mortgage disclosure documents, only a handful are...
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Mortgage lenders’ captive reinsurance units that for years have piled up premiums from mortgage insurance policies are now seeing more of those premiums flowing back the other way to cover losses.Captive reinsurance units sponsored by mortgage lenders held some $3.564 billion of MI premiums classified as recoverable by their private MI partners at the... [Includes one chart]
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Redwood Trust, the California real estate investment trust that last month created a buzz in the securitization industry by issuing a non-agency residential mortgage-backed security, announced last week that it will start buying mortgages on a flow basis. The company said it has begun buying jumbo mortgages on a flow basis – individually as the loans are originated...
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New mortgage origination opportunities are attracting financial institutions to offer a variety of mortgage products but many, especially the smaller institutions, are balking at the high cost of hiring mortgage consultants and underwriters. Quicken Loans, a leader in using online lending technology, has stepped up to offer its expertise to small and midsize banks and credit...
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Modified impaired mortgage loans should be kept in a pool and not removed and accounted for separately, even if the modification is part of a troubled debt restructuring, according to the Financial Accounting Standards Board. The amended guidance is the result of FASB’s review of accounting rules governing Topic 10 Receivables, which deals in part with...
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A nascent cottage industry has sprung up around helping mortgage lenders comply with Fannie Mae’s still evolving Loan Quality Initiative and to deal with the confusion and lack of clarity it’s reportedly causing. “Fannie’s Loan Quality Initiative has come as a surprise to a number of lenders, and many of our clients hadn’t even heard of it,” said Greg Holmes...
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The First American Corp. is proceeding with plans to cash out of two of its mortgage industry-related holdings and place control of the entities into the hands of public investors. First American is splitting its Information Solutions Group (CoreLogic) and its Financial Services Group into two separate, publicly traded companies on the New York Stock Exchange...
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Montville, NJ-based Mortgage Pricing Systems, developers of pricing solutions for mortgage lenders... Compass Analytics, a provider of mortgage valuation analytics and risk management services based in... HOPE LoanPort, developed by the Washington, DC-based HOPE NOW Alliance, recently launched a consumer...
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