Some CRE Lenders See Strength The origination of commercial real estate loans was higher at several firms last year, and much of the strength came from multifamily production. One firm reported that annual volume more than doubled.
Fannie Mae reported that its lending partners financed 2,763 multifamily loans for $24.4 billion last year.
Last year's CRE loan production at Prudential Mortgage Capital was the third-best year on record.
Some Lenders Lift Business Despite Industry Slowdown Although residential originations for the industry as a whole were down last year, gains were made by a lender that is exiting the mortgage business and a growing Oklahoma firm. Quarterly activity at the nation's credit unions reached the second-highest level ever.
A Mortgage Daily analysis of multiple economic forecasts indicates that home-loan production for all U.S. lenders were down around 15 percent between 2010 and 2011.
But MetLife Home Loans reported to Mortgage Daily that it originated around 7 percent more last year than it did in 2010.
PHH Paring Correspondent Production PHH Corp. plans to reduce correspondent mortgage lending at PHH Mortgage. The company's chief talked about the impact to employees.
Last month, PHH warned in a Securities and Exchange Commission filing about a possible reduction in correspondent production.
This week, the company's president and chief executive discussed plans to cut back on correspondent mortgage production.
SAFE Exam Guidelines Released Examination guidelines for non-bank loan originators have been issued to state mortgage regulators.
The Secure and Fair Enforcement for Mortgage Licensing Act of 2008 established minimum standards for the individual states to license and register mortgage originators.
Those standards are outlined in new SAFE Act Examination Guidelines.
Real Estate News
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