Wholesale HECM Volume Higher
Home-equity conversion mortgages originated by third parties climbed to the highest level in more than a year and, in the process, the title of biggest reverse wholesaler changed hands.

Reverse mortgage wholesalers closed 5,567 loans during September, climbing from 5,246 units in August, Reverse Market Insight reported.

It was the highest level for wholesale HECMs since July 2008, when wholesale volume was 5,594.
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Lower Fees for NAMB Members
A wholesale lender based in Washington is offering discounts to members of the National Association of Mortgage Brokers.

Wholesalers Lead Mortgage Banking Profits Higher
As originations increased, refinances retreated and credit scores rose -- mortgage banking firms saw an increase in profitability. Improved earnings were most pronounced at wholesale lenders.

15 Casualties in Deadly Week
In addition to one net branch, two wholesale lending operations and two credit unions that were closed down last week, nine banks failed on Friday.

LOS Firms Report Rapid Growth
Two providers of loan origination systems have reported significant recent growth, with the increase in business at one of the firms attributed to its early adoption of features for Federal Housing Administration-insured loans. A wholesale lender hopes to shatter its prior production record with its adoption of a new LOS.

LOS Alliances and Integrations
Several developers of loan origination systems have enhanced their offerings through alliances, partnerships and the integration of other services. Among added features are loan product and pricing searches, mortgage compliance and appraisal ordering.

Aussie Mortgage Brokers Up in Arms Over Big Four
Australian mortgage brokers claim that four huge financial institutions are putting the squeeze on them.

Signs Of Life Emerge in Mortgage Banking
Despite a weak outlook, pockets of optimism emerged among mortgage bankers meeting this week in San Diego. But many are concerned about domination by the big three, while few rays of light are on the horizon for mortgage brokers.

Reverse Volume Down, But 1 Lender Forecasts Growth
Monthly reverse mortgage volume fell, and declining applications indicate additional declines are ahead. A reverse lender that recently received its "Full Eagle" projects it will quadruple its loan origination base, while a reverse mortgage wholesaler expanded.

Pricing Engines Enhance Offerings
As pricing engines are integrated with loan origination systems and point-of-sale systems, they are being packed with compliance and mortgage lead management offerings. Recent updates to product and pricing engines also address secondary market objectives.