Finance

The Eleventh Federal Home Loan District Cost of Funds Index reached 1% in November, the all-time low for the series. In October, the index was 1.011%.

TCW Group Inc., Pacific Investment Management Co. and DoubleLine Capital LP are forecasting gains for mortgage bonds without government backing.

Northstar Bank of Texas, Denton, Texas, has acquired the controlling interest in Goldome Financial Inc.

All industry stocks on this publication’s Mortgage Industry Equity Composite ended the trading day Wednesday with gains, with mortgage insurer MGIC leading the pack.

While the qualified mortgage definition is approaching a deadline this month, there are some in the securitized market worried about the rulemaking dragging on.

Lenders have originated just 2,015 FHA-insured short refinancings since the Federal Housing Administration launched the special program in August 2010 to provide a refinancing outlet for underwater borrowers with private label alt-A and subprime loans.

The Federal Housing Administration will take several additional steps to maximize recovery in the areas of loss mitigation and asset management.

The Royal Bank of Scotland has won a bid to dismiss a lawsuit that stems from its sale of securities backed by U.S. residential mortgages.

Jacksonville Bancorp has sold $25.1 million of troubled assets and completed its previously announced $50 million capital raise.

Between $500 million and $600 million will be returned to the MF Global Inc. estate under an agreement.

Jumbo originator PHH Mortgage Corp. is heading toward a new year with some changes under the hood.

Mission West Properties Inc. said it transferred its remaining assets to, and its remaining liabilities were assumed by, the Mission West Liquidating Trust.

Among the trends an executive at one industry vendor foresees for 2013 are changes in loan product mix and nonconforming secondary market investment interest.

There’s still an awful lot of damage and debris to be cleaned up in the wake of Hurricane Sandy, with staggering problems for those whose property was in low-lying coastal areas.

Dale Oberkfell has been elected as chairman of the Federal Home Loan Bank of Des Moines.

Indianapolis will start 2013 by floating $42.4 million of bonds in the final debt issue for a massive $734 million public safety net hospital that is set to open by the end of the year.

Moody’s Investors Service has assigned a definitive Baa3 (sf) rating to $182 million in securities in a commercial real estate liquidating vehicle that introduces a new feature.

Purchases of mortgage loans by Fannie Mae jumped 25% in the month of November.

Lower interest rates enabled Ashford Hospitality Trust Inc. to close a $112.6 million loan secured by the Renaissance Hotel in Nashville, Tenn., and the Westin Hotel in Princeton, N.J.

Moody’s Investors Service has assigned a range of definitive ratings to about $300 million in commercial mortgage-backed securities from a single-asset transaction.