At "origination", they might include telemarketing, data entry and document verification.
He added that the last time there was more normal underwriting, in 2003, there was nearly $4 trillion in total mortgage originations, which includes refinancing and new purchases.
The second-biggest lender, JPMorgan Chase, said its mortgage originations, that includes new home purchases and refinancings, fell 54percenttoto $23.3 billion from $51.2 billion a year ago.
Third, the working group's scope needs to be broader — it should include mortgage origination, not just securitization.
Its mortgage and home equity lending activities include the origination, retention and servicing of mortgage and home equity loans or lines of credit, sales and securitizations of those loans or pools of loans or lines of credit and all associated hedging activities.
Include loan origination fees, application fees and appraisal fees.
She further confirmed that "our total small-business lending figures — $10 billion for the first half of 2012 — include new originations and increases to existing lines of credit.
The breadth of the new Nevada complaint indicates that Bank of America's problems extend throughout its mortgage operations, including origination, loan servicing and securitization.
Some online lenders have charged more than 60percentt in annual interest on their loans, including origination fees.
Closing costs, including origination and third-party fees, reached $3,046 on average for a $200,000 mortgage.
