Finance

Ellington Residential Mortgage REIT has priced an initial public offering of 6,450,000 common shares at $20 per share.

MFA Financial generated first-quarter income with per common share of 21 cents and net income to common shareholders of $75 million.

Government-backed mortgages have accounted for more than 90% of U.S. housing financing since 2008.

The bond purchases, known as quantitative easing, have helped push up stock prices and reduce bond yields.

Hudson City Bancorp reported a 34% decline in quarterly profit as it waits for regulators to approve its sale to M&T Bank.

President Obama has picked Rep. Mel Watt, D-N.C., to head the Federal Housing Finance Agency.

Mortgage application volume for the week ended April 26 increased 1.8% on a seasonally adjusted basis from the week prior.

The request for a stay was opposed by NCUA, which argued that delay could prejudice the outcome of its cases by changing the nature and availability of certain evidence and records.

Loan acquisitions by Fannie Mae fell 11% in March following a 9% decline in February.

Fannie Mae is providing loan-level performance data on 18 million loans to get private investors interested in buying into several risk-sharing transactions this year.

We're hearing that although some big players have exited wholesale in recent years, New York mortgage brokers today have the support of several strong, small to midsized lenders in this channel.

National Mortgage Insurance Co. has become operational, having started to write policies in early April.

Colliers International has arranged $72 million refinancing for eight retail centers in the Denver area.

Commercial and multifamily mortgage originations fell 36% between 4Q12 and 1Q13, but were up 9% 1Q13 over 1Q12.

First Guaranty Mortgage Corp. appointed Amy Ellenburg as regional TPO manager, correspondent lending.

Old Data is dead, long live New Data.

Ridgewood Savings Bank is working toward also starting a correspondent channel.

Principal forgiveness on average is becoming more prevalent percentage-wise among top nonagency market participants.

JPMorgan Chase, Washington Mutual and Citigroup were sued by Integer Program LLC over $301 million in losses from mortgage loans.

Morgan Stanley and WMC Mortgage Corp. were sued by Seagull Point LLC over $476 million in losses from securitized mortgage loans.