Origination news
Greg Carmichael, who has been on the job nearly a year as Fifth Third's CEO, has started putting his stamp on the company by aggressively trimming branches in favor of mobile, seeking to build up its consumer credit business and retooling the balance sheet.
The mortgage industry remains deeply uneasy with efforts by Fannie Mae, Freddie Mac and their regulator to experiment with front-end credit risk transfers, with some arguing it helps borrowers and lenders, while others fear it will cut out small institutions.
Bank of America is expanding a program that provides 3% down payment home loans through a partnership with Freddie Mac and a North Carolina credit union.
In a move designed to help further calm lender fears about mortgage repurchase liability, Fannie Mae is preparing to offer immediate representation and warranty relief to lenders that use its suite of automated quality assurance technology.
A new Rural Housing Service construction-to-permanent loan program is garnering strong interest from lenders and builders who see it as a much-needed opportunity.
ClosingCorp has rebranded its Loan Estimate and Good Faith Estimate products as a single service, SmartFees.
Heather Russell, who was fired earlier this year as Fifth Third Bancorp's chief legal officer, has re-emerged in a new role.
SunTrust Banks in Atlanta has agreed to buy the multifamily lending business of Pillar Financial in New York.
Rates for the 30-year conforming fixed-rate mortgage rose above 3.5% for the first-time since before the Brexit vote, according to Freddie Mac.
Record deposit growth, improved expense management and strong revenue gains from mortgage banking boosted Umpqua Holdings' profits in the third quarter.
Sales of previously owned homes increased more than projected in September, showing residential real estate continues to contribute modestly to growth.
Potential homebuyers in St. Louis will be glad to know they're looking in a bargain-rich burgh.
A Thousand Oaks, Calif., real estate broker has been charged with forging the signatures of two clients on a document extending a residential listing agreement, Ventura County prosecutors said Wednesday.
Stewart Information Services Corp. is reshaping its board by adding three independent directors and its CEO to the panel as part of a settlement with its biggest shareholder, activist investor Starboard Value.
The second commercial mortgage securitization designed to comply with risk retention is backed by a single loan on a Manhattan skyscraper.
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