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BY John Reosti
New rules have made it more challenging to originate mortgages without drawing attention from regulators. Mercantile Bank in Michigan, however, believes that positive trends in its biggest markets are incentive enough to hire lenders and improve its systems.
PHH Corp. reported a first-quarter loss of $30 million, which included a $10 million pretax adjustment to the value of its mortgage servicing rights.  more »
Freddie Mac's second quarterly loss in less than a year makes it clear profitability is getting tougher as it shrinks. But it's a concern that must be weighed against more long-term efforts to reduce Freddie's overall credit risk exposure.  more »
The Federal Housing Finance Agency announced Wednesday it had raised a cap on the amount of multifamily loans Fannie Mae and Freddie Mac can buy from lenders, boosting it to $35 billion effective immediately.  more »
Nationstar Mortgage Holdings reported a $132.4 million loss for the first quarter of 2016, showcasing once more the toll falling interest rates have taken on companies across the mortgage industry.  more »
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