Finance

USSCO Johnstown has developed a marketing agreement with Unifirst Mortgage Corp. it says will enable members to avoid the upfront fee other mortgage providers typically charge.

Credit unions are selling increasing amounts of their record mortgage loans on the secondary market, almost all of them to Fannie Mae and Freddie Mac.

A portion of the portfolio consists of about $1.96 billion of nonperforming assets.

New Basel III provisions could impact a significant percentage of warehouse lenders.

A federal court dismissed a suit brought by NCUA against Barclays Capital for the sale of $555 million of faulty mortgage-backed securities to U.S. Central FCU and WesCorp FCU.

Since May 1 rates have been rising, but one economist is advising credit unions not to be fooled into inaction against interest rate risk.

The worst first half for Treasuries in four years has wrung the unprecedented Federal Reserve stimulus out of bond prices as investors now look to low inflation and slow economic growth to contain yields.

Positive forecasts on 10-year-guaranteed agency commercial mortgage-backed securities do not change analysts’ expectations to see sluggish CRE loan growth.

Roger Cozzi, who joined AllianceBernstein this year, will lead the fund and AllianceBernstein's newly formed CRE debt group.

Barclays is expanding its West Coast staff that handles commercial mortgage-backed securities.

Wells Fargo is predicting a sharp decline in mortgage originations this quarter, but CEO John Stumpf is hardly worried.

This is the first post-downturn year in which the number of companies that have done rated deals has notably multiplied.

Congress passed the Housing and Economic Recovery Act in response to the severe downturn in the housing market.

The Veterans Administration is the only government agency that has not made huge underwriting rule changes for several years now.

A new online wholesale trading platform was launched by SecondaryWire designed to accommodate the sale of brokers’ and correspondents’ loans to investors.

Investors in Fannie Mae and Freddie Mac accused the U.S. of depriving them of the value of their preferred shares when it changed the terms of its takeover of the mortgage finance companies in August 2012.

Both the largest loan and another loan have split loan structures where the property also supports a pari passu companion loan.

The chairman of the House Financial Services Committee wants private investors to share in some of the credit risk on Fannie Mae, Freddie Mac and Federal Housing Administration loans.

Through MPF Xtra, loans are aggregated and sold to Fannie Mae.

W.J. Bradley Mortgage Capital executives find deciding whether holding or selling mortgage servicing rights is worthwhile for the company in the long run both tough and rewarding.