Finance

New large mortgage servicing rights transfers expected to be completed in the last half of 2013 indicate banks will continue to offload defaulted, high-risk loans into the hands of nonbanks.

Fannie and Freddie have operated under government control since their operations were seized in 2008.

Estimates by Goldman Sachs Group researchers suggest more than half of all home purchases are done on a cash basis, or at least are financed to a far lesser degree than before the recent downturn.

The Federal Home Loan Bank of Chicago is lining up new investors for its Mortgage Partnership Finance conduit program.

The average rate for the 30-year fixed rate mortgage is expected to rise to 4.4% in the third quarter, but this is down from a July estimate of 4.5%.

Barry Habib, chief market strategist for Residential Finance, explains the results from the latest National Association of Home Builders Housing Market Index, which was released at 59, stronger than expectations of 56.

First Mariner Bancorp in Baltimore swung to a loss as professional fees rose and mortgage banking income cratered.

MountainView Capital Holdings named Joseph Mevorah to head its expanding investment banking business.

Oaktree Capital Management increased its stake in MGIC Investment Corp. while Perry Corp. lowered a holding in the mortgage insurer.

Commercial mortgage-backed securities market metrics when it comes to new issuance are stable compared to the previous quarter, but are worse than those seen a year ago.

The securitization, COMM 2013-300P Mortgage Trust, consists of three classes of notes assigned preliminary AAA ratings by Fitch Ratings.

PennyMac Mortgage Investment Trust filed information on the pricing of an underwritten public offering of 11.3 million common shares in a move it said may help fund its correspondent lending business.

Even though rates on the 30-year fixed-rate mortgage declined during the survey week, so did loan application volume as the Mortgage Bankers Association reported a 4.7% decline on a seasonally adjusted basis for the week ended Aug. 9.

FeatherStone Investment Group hired Kevin Blaser to take charge of the securitizations of the company’s REO-to-rental portfolio.

We're hearing while some think adjustable-rate mortgages have been making a comeback, there are some differences in opinions.

The Fort Wayne, Ind.-based lender is getting its secondary market approvals to sell direct to the agencies.

Fitch expects to assign its top investment grade rating to two classes of the more than $400 million transaction.

Another wave of pre-crisis private-label residential mortgage-backed securities is coming to the end of the line with substantial losses, according to a Standard & Poor’s.

While a lot of the president's remarks seem like warmed-up leftovers to those who follow the industry, there were a couple of interesting things a little farther down the prompter.