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Origination

Bank of Commerce Mortgage Expands Denver Operations

Bank of Commerce Mortgage (BOCM) is expanding its operations in Denver, the company announced. According to a release, BOCM's Denver office saw significant growth in loan volume and staff in 2012, necessitating the move to a larger office space.

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House Democrats Call for Ouster of FHFA Head

The principal reduction debate resurfaced after 45 members of the House of Representatives--led by Rep. Elijah E. Cummings (D-Maryland) and John F. Tierney (D-Massachusetts)--sent a letter to President Obama, urging him to replace Federal Housing Finance Agency (FHFA) Acting Director Edward J. DeMarco with a permanent director.

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Poll: 4 in 5 Small Business Owners Support Tougher Rules for Wall Street

An Internet poll conducted by Lake Research Partners and released by Small Business Majority shows 80 percent of small business owners believe Wall Street and financial companies should face tougher rules and enforcement following the financial crisis. The remainder believe those companies have showed enough evidence of change that further regulation is unnecessary. Additionally, a combined 66 percent expressed their opinion that the level of government oversight should increase or is about right the way it is.

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Carrington Rolls Out Programs to Speed Closings

The Wholesale Lending Division of California-based Carrington Mortgage Services announced two new programs designed to assist brokers and borrowers quickly and easily close in the tight housing market. As part of its "Three Day Turn Time Promise" program--offered only for the month of February--the company will decision any eligible FHA or conventional purchase loan within three days of the time it is submitted to underwriting or waive its underwriting fee of $995.

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Consumers More Optimistic About Housing, the Economy

Consumers are showing increased confidence in home sales and a greater sense of job security, according to the results of Fannie Mae's most recent National Housing Survey. January's findings show 41 percent of respondents believe home prices will go up in the next year, a decline of 2 percentage points from December's high. However, the share who believe prices will fall also dropped, returning to a survey low of 10 percent. The average 12-month home price change expectation in January was 2.4 percent.

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Improving Markets Index Reaches 259, Encompasses All 50 States

As more markets across the country improved, all 50 states--plus the District of Columbia--were able to receive representation in February's Improving Markets Index (IMI) released by the National Association of Home Builders (NAHB) and First American. Last year during this time, just 36 states were represented.

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