Finance

Bank of America's mortgage banking business reported a loss for the fourth quarter driven largely by representations and warrants provisions.

The company, which bought BNC Bancorp to enter North Carolina last year, recorded $19.1 million in merger-related expenses and an $8.3 million pretax loss tied to investment securities.

Citigroup's fourth-quarter residential mortgage banking revenue was 22% lower from the previous year because the company sold the vast majority of its servicing rights.

The weighted average FICO credit scores of securitized reperforming loans are deteriorating a little, according to a DBRS study of the bonds.

The $401.2 million COLT 2018-1 is the eighth overall securitization of non-qualified jumbo mortgages issued by the Lone Star Funds affiliate.

The JPMorgan Chase CEO is rejecting arguments that banks are poised to loosen underwriting standards to win more mortgage business. He said what's needed to encourage banks to make more loans to borrowers with spotty credit files are changes to FHA rules and other policy fixes.

JPMorgan Chase reported lower mortgage banking revenue in the fourth quarter as the returns from its servicing business declined from the previous year.

Wells Fargo had another surprise for investors in the form of its biggest legal charge yet, showing the lender is not yet past its consumer banking scandals.

Situs agreed Friday to buy mortgage servicing rights valuation and brokerage firm MountainView Financial Solutions in a deal set to close this month.

Mayor Keisha Bottoms said housing affordability, transparency, public safety, education, and transportation are priorities.

Genworth Financial's acquisition by a Chinese insurance company, which has already been delayed several times, might be in peril following the failure of another cross-border merger to gain approval.

The Trepp CMBS Delinquency Rate ended the year at 4.89%, a decrease of 29 basis points from the November level. That’s the largest monthly drop since January 2016.

Some commercial buildings that are not required to obtain earthquake insurance may still be susceptible to significant structural damage that could put the borrowers at risk of default, according to Kroll Bond Rating Agency.

Speculators who bet on declines in commercial mortgage bond indexes as a way to profit from the expected demise of regional shopping malls may still be waiting for a big payout, according to Trepp.

Billionaire Dan Gilbert's Quicken Loans Inc. outgrew almost every U.S. mortgage provider by unfurling technology like its online Rocket Mortgage platform faster than big banks.

From origination to servicing and everything in between, here's a look at what's in store for the mortgage industry in 2018.

Fannie Mae and Freddie Mac have new technology-driven initiatives planned for 2018 that are expected to help lenders improve the borrowing experience for home buyers and make full use of the government-sponsored enterprises' credit box.

Former top commercial mortgage-backed securities strategist Trevor Murray accused the Swiss lender of illegally firing him in 2012 for blowing the whistle on attempts by traders to influence his research reports.

DoubleLine Capital is embarking on a plan to originate and securitize mortgages, seeking to fill a niche that has traditionally belonged to banks and brokerage firms.

A lawyer for UBS Group AG urged a New York jury to reject the tale of a former senior commercial mortgage-backed securities strategist who claimed he was fired for refusing to let the Swiss bank's traders influence his research reports.