Finance

A new multifamily investment product will for the first time allow Freddie Mac to buy and guarantee bonds backed by multifamily loans that were originally underwritten by private entities.

One-third of the nation's counties now have access to e-recording software, according to the Property Records Industry Association,

Federal prosecutor Loretta Lynch may soon replace Attorney General Eric Holder, leaving bankers wondering whether she will be tougher on institutions than her predecessor.

A renewed interest in subdivisions that stalled during the recession is likely the main reason the California Debt and Investment Advisory Commission reported doubling of refunding volume in land-secured Mello-Roos bonds from fiscal year 2011-12 to 2012-13, according to government consultant Larry Kosmont.

Industry observers have mixed reactions on whether next year's Republican-controlled Congress will finally address long-stalled efforts to reform Fannie Mae and Freddie Mac.

Commercial mortgage-backed security delinquencies declined during October, according to Fitch Ratings.

Despite policy changes that apply to new reverse mortgages, the rights for existing spouses of deceased borrowers remain unclear and subject to change until HUD and litigants agree on a final policy in line with court directives.

While the government-sponsored enterprises' move to allow down payments as low as 3% comes with some inherent risks, Fannie Mae executives are confident they can responsibly administer the new guidelines to ensure they're an effective tool for increasing access to credit.

Essent Group, a mortgage insurance company based in Radnor, Pa., reported higher third-quarter profits, due to a surge in revenue from premiums.

Washington-based Fannie Mae, which has been under federal conservatorship for six years, had net income of $3.9 billion for the three months ended Sept. 30, according to a regulatory filing Thursday.

Redwood Trust Inc., the specialist in jumbo mortgages, said it entered into a risk-sharing deal with government-backed Fannie Mae on smaller home loans.

Freddie Mac is growing its single-family business and taking market share from its fellow government-sponsored enterprise Fannie Mae.

PennyMac Mortgage Investment Trust and its sister company, PennyMac Financial Services, reported a rise in quarterly profits.

BlackRock, the world's biggest money manager, and private-equity firm KKR & Co. have gained a majority stake in Home Partners of America, a single-family rental company backed by Lew Ranieri.

Narayan Bharadwaj, the former general manager and head of mortgage technology vendor Wipro Gallagher Solutions, will serve as president and chief operating officer of the newly created professional services division of document preparation vendor DocuTech.

Mortgage rates increased for the second consecutive week, according to data released Thursday by Freddie Mac.

Genworth Financial Inc. posted a third-quarter loss of $844 million, driven by costs tied to its long-term care insurance operation.

The move comes as the FHFA seeks to curtail advances to mortgage REITs and tighten FHLB membership rules.

Private investors backing firms like RPM Mortgage are placing bets on lenders in the U.S. home loan business once dominated by Wall Street's largest banks.

Justices seem to struggle with what rescission actually means in practice and in the Truth-in-Lending Act.