Cost of Compliance
A recent survey of credit unions found that complying with the Dodd Frank Wall Street Reform and Consumer Protection Act of 2010 means that interest rates on loans will be higher, hiring will be reduced and third-party servicing will increase. Some financial institutions even intend to scale back mortgage originations.

Mortgage Lenders Continue Easing Approval Requirements
For much of this year, mortgage lenders have been loosening their lending standards. On government-insured refinances, average credit scores have tumbled nine points over the past year.

Shift in Mortgage Servicer Concentration
Although the three-biggest mortgage servicers reduced their servicing portfolios during the first quarter, a trio of rising stars each added mortgage servicing rights on more than $100 billion in loans to their own portfolios. While overall mortgage originations were off from the fourth quarter of last year, several players still managed to grow their businesses. The second-quarter forecast is for stronger mortgage production.

Q1 Mortgage Originations Slow at Several Lenders
Several mortgage bankers reported slower activity in the first quarter. But one home lender reported a record quarter, another has since seen a record month and third is poised to capitalize on refinancing a $200 billion mortgage servicing portfolio.

Mortgage Business Slows as Rates Rise Loan originators were a little less busy this week as interest rates moved higher. The hardest-hit categories were adjustable-rate mortgages and refinances. Mortgage rates look to be headed higher.

Correspondent Business Soars at Stonegate
Quarterly mortgage originations increased at Stonegate Mortgage Corp., with correspondent lending activity surging even as new retail business floundered. The mortgage servicing portfolio jumped by nearly half over the past three months.