Finance

Efforts to bring back a private-label residential mortgage-backed securities market have not been quick, nor—dare I say—wholly successful at this point.

For No. 3 producer Shelly Logemann, it is being responsive to her clients, plus having the proper work/life balance which is important to her success as an originator.

Wells Fargo & Co. is in the market with a $200 million package of nonperforming residential loans, according to investors that have been briefed about the deal.

MGIC Investment Corp. has filed a lawsuit in Federal Court in Milwaukee against Freddie Mac and its conservator, the Federal Housing Finance Agency, over the pool insurance dispute between the two companies.

The former MetLife Home Loans branch in Omaha, Neb., has become part of Gateway Mortgage Group, Tulsa, Okla.

Silvergate Bank said its warehouse lending division funded 1,570 loans totaling $419 million in the first quarter.

What does the future hold for the GSEs? Combined agencies? A GSE for nonconforming?

Residential lenders will continue to enjoy high gain-on-sale margins during the remainder of the second quarter, but those profits will be down compared to 1Q—which was exceptional—according to new research from Credit Suisse.

Impac Mortgage Holdings recorded a “significant” year-over-year expansion of its mortgage lending in the first quarter, but other costs largely stemming from legacy issues produced a consolidated net loss of $4.8 million during the period.

The other day a mortgage recruiter made a blunt statement to us: “Wholesale lending is really hot right now.” Of course, given what’s happened to the mortgage business the past few years and all the blame being placed on brokers for crappy loan quality, such a statement might be taken with a grain of salt.

A 13% increase in refinance applications led to a 9.2% seasonally adjusted increase in overall application volume for the week ended May 11, according to the Mortgage Bankers Association.

When Residential Capital Corp. filed for bankruptcy protection earlier this week it left behind a trail of unsecured creditors with claims totaling well over $1 billion, according to court documents.

The Federal Housing Administration—which holds title to 700,000 seriously delinquent mortgages—plans to ramp up its single-family nonperforming loan sale efforts, according to housing commissioner Carol Galante.

A pair of analysts at the Mortgage Bankers Association Secondary Market Conference said they don't believe there will be a private-label mortgage-backed securities product anytime soon.

Allonhill, a mortgage due diligence provider that two weeks ago lost a consulting contract with the Office of the Comptroller of the Currency, has given layoff notices to dozens of employees, according to industry consultants who were briefed on the matter.

REO assets represented one-third of the overall CMBS delinquency rate in April, reaching $11.1 billion in scheduled loan balance.

Citing the $2 billion loss at JPMorgan Chase, Massachusetts Senate candidate Elizabeth Warren is calling for the enactment of a new version of the Glass-Steagall Act.

Dissatisfaction is growing in Congress with the Obama administration’s decision to leave mortgage investors out of talks that led to a $25 billion settlement.

Dissatisfaction is growing in Congress with the Obama administration’s decision to leave mortgage investors out of talks that led to a $25 billion settlement.

John Robbins has created mortgage production platforms from scratch before, most notably with American Residential Mortgage and American Mortgage Network. But his latest venture, he admitted, was in at least one way a little more difficult because of how the industry environment has changed in the past few years.