Finance

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.

Count Two Harbors Investment Corp. among investors looking for profits in riskier home loans — and expecting a market for bonds backed by them to re-emerge even with safer issuance showing limited signs of life.

Until Congress gets around to GSE reform, the FHFA could at least make Fannie and Freddie less expensive to run. Combining the companies would reduce the threat that they will need more support from the Treasury and perhaps lower the cost of obtaining a mortgage.

The recent dip in mortgage rates isn't likely to spur a refi boom, but with the industry now into the fourth quarter of a tough year, many lenders are looking for ways to boost business.

JPMorgan began marketing another $402 million of securities backed by residential mortgages this week, adding to its robust pipeline of fourth-quarter deals.

In order to make homeownership more affordable, the FHFA should make sure that GSE guarantee fees fully recognize private mortgage insurance and restore the longstanding tax-deductible treatment of mortgage insurance premiums.

The Connecticut Housing Finance Authority's plans to sell $97.5 million of housing mortgage financing this week in transactions that include two private placements.

Industry veteran David Applegate will serve as CEO of Common Securitization Solutions LLC, the new firm co-owned by Fannie Mae and Freddie Mac to develop a common securitization platform for the mortgage secondary market.

Mortgage aggregators that paid billions of dollars in fines over faulty loans may soon play a new role: plaintiffs in their own lawsuits against originators.

Bill Cosgrove intends to make the return of the first-time homebuyer his primary focus as the new chairman of the Mortgage Bankers Association.