Finance

PHH Corp. reported a bigger loss in the fourth quarter, on costs to restructure its business and a loss on sales of mortgage servicing rights.

Amid growing scrutiny of how the hand-off of mortgages is managed after loan closings and bulk sales, servicers are working to automate the entire process to create a consistent and accurate onboarding experience for borrowers.

Nationstar Mortgage is in the market with the second rated securitization of what are nonperforming Home Equity Conversion Mortgage loans, according to Moody's Investors Service.

Meaningful rules encouraging Fannie and Freddie to do more with manufactured housing would allow more lenders into the market and make pricing more competitive.

Mitsubishi UFJ Financial Group is building a U.S. mortgage-bond trading team as tough lending conditions in Japan spur the nation's biggest bank to expand overseas.

Bank of America on Monday will launch a 3% down payment home loan in partnership with Freddie Mac, but the bank will not retain any risk if the loans default. That’s because it will immediately will sell the loans and servicing rights to Self-Help Federal Credit Union, a Durham, N.C., community development lender that's on a mission to put more low- and moderate-income families into homes of their own.

NMI Holdings should become profitable for the first time in the second half of 2016 as its insurance-in-force is expected to go over $21 billion.

Fannie Mae's net income fell 23% to $11 billion in 2015 from a year earlier despite benefiting from higher purchases of single-family and multifamily loans, the government-sponsored enterprise said Friday.

Federal Housing Finance Agency Director Mel Watt stopped short of calling for Treasury to recapitalize the government-sponsored enterprises, but said "something needs to be done" before they run out of capital.

Mortgage servicers are actively discussing with regulators how current rules could be streamlined, and future rules could be shaped, to minimize costs and hassles.

Freddie Mac on Thursday reported strong fourth quarter and year-end profits driven by a surge in demand for both home purchase and apartment loans.

The cost of capital and regulatory compliance has convinced the top four banks that making home loans to American families is not worth the risk.

Investors continue to demand additional yield for exposure to defaults on loans insured by the Fannie Mae.

Fannie and Freddie have been selling pools of delinquent mortgages at auction to the highest bidders. Community groups say the Federal Housing Finance Agency should be giving preferential treatment to nonprofits and community development financial institutions.

Mortgage professional hiring and new job appointments for the week ending Feb. 12.

The Federal Housing Administration will continue to charge borrowers an annual premium over the entire life of the loan, rejecting calls from some housing advocates to change how it’s calculated.

Blackstone portfolio company Incenter has agreed to purchase Interactive Mortgage Advisers.

Morgan Stanley agreed to pay $3.2 billion to end a joint federal-state investigation into its handling of mortgage-backed securities, the fourth deal to be struck in a probe of the big U.S. banks' role in the subprime mortgage meltdown and the financial crisis it spawned.

The Federal Home Loan Bank system is not a private country club and shouldn't be operating as one. Captive insurance companies represent new potential to expand homeownership opportunities for credit-worthy borrowers.

Strong demand for rentals will keep pace with new construction over the next few years, the government-sponsored enterprise says.