VA activity appeared to lose momentum in the fourth quarter of 2013 as approved lenders reported $129.9 billion in total originations for the year, according to Inside FHA Lending’s analysis of Department of Veterans Affairs data. Production has been gradually slipping since the end of the first quarter, when lenders posted an aggregate $37.5 billion in new VA loans. The fourth quarter ended with $22.4 billion in total originations, which was down a hefty 32.1 percent from the previous quarter. On a year-over-year basis, however, VA originations were up by 1.5 percent. Refinancing accounted for 9.9 percent of VA production in 2013, up slightly from ... [1 chart]

Since Mel Watt was sworn into a five-year term as Federal Housing Finance Agency director on January 6, the former North Carolina Congressman has made no public appearances or policy statements except for canned comments attributed to him in routine FHFA press releases.

One loan officer based in Southern California said he’s seeing bonus offers made to colleagues, but cautioned: “It’s true, but only if you can prove good volume today – not eight months ago.”

Worried that New York State regulators will throw a monkey-wrench into Ocwen’s mortgage servicing acquisition plans? Don’t be.

Also, Morgan Stanley recently increased its stake in Arch Capital Group to 6.3 percent. Arch owns CMG Mortgage Insurance, which is being renamed Arch Mortgage Insurance Company.

The entire group is moving to the Connecticut-based nonbank from a company called Mortgage Services, a subsidiary of First State Bank of Mendota, IL.

One executive familiar with the practice of signing bonuses noted that typically the money is paid out over 12 months, but if the LO does not repeat their past performance the bonus can terminate in a given quarter.

It appears that the Federal Housing Finance Agency has slowed its search for a chief executive and chairman to manage the fledgling common securitization platform, which is slated to be headquartered in Bethesda, MD. One former candidate for the CEO position told Inside The GSEs: “It’s pretty much turned into the mess I suspected it would a year ago.” Discussing the chairman position, he added: “They still haven’t come to terms on compensation for the person they want.”

What’s the best way to entice a workaholic mortgage loan officer who knows how to bring home the bacon? Answer: Pay them a huge signing bonus.

Graham Williams, CEO of Mortgage Resolution Partners, a firm that has achieved notoriety in the mortgage industry for trying to use eminent domain to seize underwater loans, is moving on. But that doesn’t mean the concept of municipalities using the legal strategy is going away. “I’m transitioning out of the CEO job,” Williams told Inside Mortgage Finance. “The company will continue on.” Asked whether a CEO search is underway, he said he didn’t know. As Inside Mortgage Finance went to press this week, there were...