Finance

Despite a huge portfolio of seriously delinquent loans, it appears the Federal Housing Administration might be able to keep its head above water this year without seeking a draw from the U.S. Treasury.

The downgrades are due primarily to higher expected realized and anticipated losses from specially serviced and troubled loans.

The registration statement relating to the sale of common stock of Charter Financial has been declared effective by the Securities and Exchange Commission.

Gleacher & Co. has found a buyer for the ClearPoint wholesale mortgage production business it put on the block last November. The unit is being acquired by Homeward Residential Inc., a subsidiary of Ocwen Financial Corp. Terms of the deal were not disclosed.

Interactive Mortgage Analytics hired Greg Beers as a senior vice president.

U.S. consumers and advocates generally grew fonder of fixed-rate mortgages while criticizing securitization in the wake of the downturn.

Stonegate Mortgage Corp. hired another former GMAC-RFC executive, Stephen Pawlyshyn, as vice president of nonagency trading.

Fannie Mae has priced a $6 billion new issue of three-year Benchmark Notes due March 30, 2016.

Armour Residential REIT Inc. priced a public offering of 65 million shares of common stock.

St. Petersburg has failed to break a long stalemate between the city and the Tampa Bay Rays over the team’s quest to build a new Major League Baseball stadium.

Bank of America Merrill Lynch invested more than $2.6 billion in community development in 2012, generating nearly 11,000 affordable housing units.

MountainView Servicing Group is exclusively managing the sale of two portfolios of servicing on loans with a total unpaid principal balance of $369 million.

Ellington Financial during the fourth quarter of 2012 recognized net income of $24.8 million, or $1.19 per diluted share.

I always have my eye out for booming sectors in the mortgage business, and I think I’ve found one.

Fannie Mae has made plans for a new issue of three-year benchmark notes.

Ocwen Financial is selling off parts of a company it recently purchased and another it expects to buy soon.

House Republicans are looking to make major reforms to the Federal Housing Administration single-family program to reduce losses and return FHA to its original mission.

Senate Banking Committee Chairman Tim Johnson unveiled the panel's agenda for the 113th Congress on Tuesday, emphasizing continued oversight of the Dodd-Frank reform law.

One of the hardest-hit states is trying to put together a principal reduction program by purchasing severely delinquent underwater mortgages.

A plan to slash premiums for replacement homeowners insurance has been killed by the Federal Housing Finance Agency.