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Origination News Headlines

U.K. Lending Could Show Year-to-Year Improvement

November 20, 2009

The United Kingdom's year-to-year gross mortgage lending could slow down a bit on a monthly basis in coming months but it might start to look a little better on a year-to-year basis.

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NRMLA Close to Naming Firm Alleged to Be Violating Its Policies

November 20, 2009

The National Reverse Mortgage Lenders Association is in the final stages of "publicly naming" an overly aggressive third-party lead generation company which has consistently violated the group's ethics and standards policies.

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Misleading Reverse Mortgage Ads Draw Scrutiny

November 20, 2009

False and misleading advertising was described at the National Reverse Mortgage Lenders Association's annual conference in San Diego as a "cancer" on the reverse lending business.

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Bank of America Planning "Non-Government" CMBS Deal

November 20, 2009

Bank of America plans to sell $460 million of mortgage securities backed by commercial real estate loans without relying on a Treasury program to aid lending in that market.

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House OKs Amendment to Reduce Risk Retention Requirement

November 20, 2009

The House Financial Services Committee has approved an amendment that cuts a 10% risk retention requirement on sales and securitizations of mortgages down to 5%.

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Featured Story

NAMB Is Mulling Changes at FHA

By Brad Finkelstein

Brad Finkelstein

MELVILLE, NY-There might be some benefits to mortgage brokers in the proposed changes by the Department of Housing and Urban Development to the Federal Housing Administration program, said National Association of Mortgage Brokers president Jim Pair, but he had more than a few words of caution.

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Origination Views

Where the FHA Stands

By David H. Stevens

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Mr. Stevens, assistant secretary for housing/Federal Housing Administration commissioner for the U.S. Department of Housing and Urban Development, testified before the U.S. House Financial Services Committee's subcommittee on housing and community opportunity in October 2009 on the soundness of the FHA. The following are excerpts from his remarks.

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