When deciding which lender to work for, high-performing loan originators put an emphasis on companies that have the infrastructure to help originate mortgages, according to a survey of LOs by Floify. The company, which provides a communication portal for lenders, borrowers and others involved in the origination process, recently surveyed LOs on recruitment and retention issues. The findings focused on LOs with at least $21.0 million in annual origination volume ...

A recent white paper from VantageScore Solutions claiming that millions of potential mortgage borrowers have been restricted from receiving loans due to “conventional” credit scoring models has prompted a strong response from officials at Fair Isaac. Joanne Gaskin, a senior director in Fair Isaac’s scores and analytics group, published a “truth squad” post on a FICO-related website addressing VantageScore’s claims. “Scoring sparse and old data may give more ...

Bank mortgage repurchase activity rose again in the third quarter of 2016, although most of the increase is tied to Bank of America clearing up old buyback issues. Commercial banks and savings institutions reported $884.4 million in single-family mortgage repurchases and indemnifications during the third quarter. That was up 10.0 percent from the previous period and marked the third consecutive quarterly increase in repurchase activity ... [Includes one data chart]

Mortgage lenders are beginning to harness the power of big data to improve the increasingly expensive and often inefficient loan origination process, according to experts speaking on a panel at the recent Mortgage Bankers Association annual convention. Loan officer productivity has declined overall and varies greatly, according to Garth Graham, senior partner at the Stratmor Group. The top 40 percent of LOs generate 78 percent of mortgage originations, according to ...

The FHA can be more flexible in insuring condominiums without increasing risk to the Mutual Mortgage Insurance Fund, according to a new analysis from the Urban Institute. The FHA proposed a rule in September that would give it more flexibility in formulating its condo rules. Specifically, FHA proposed to establish a permissible, minimum owner-occupancy range of 25 to 75 percent, while keeping the option of setting a minimum threshold within that range as ...

Average prices on non-distressed properties sold in October were down 1.8 percent from the September and off 4.1 percent August.

The HFPC noted that most of the potential mortgages would have gone to borrowers with credit scores below 660, and to a lesser extent, to borrowers with credit scores between 660 and 700.

There were 159,523 active users of Ellie Mae's Encompass loan origination system in the third quarter, up 18.0 percent from a year ago.

Mortgage originations account for a large portion of the $2.50 billion increase to the $30.00 billion “community development plan.”

American International Group's plan to acquire residential mortgages is part of AIG’s effort to “rebalance” its exposure to mortgages after the sale of mortgage insurer United Guaranty to Arch Capital Group.