Finance

Freddie Mac named Donald Layton, who previously held executive positions at E*Trade and Chase, its CEO.

A Houston family has been sentenced to federal prison for running a multi-million dollar mortgage fraud scheme that resulted in at least 70 homeowners defaulting on their mortgage payments.

Industry veteran Mark Korell, who four years ago joined the mortgage division of JPMorgan Chase, has left the company, according to colleagues who are close to him.

Newcastle Investment Corp. is “very optimistic” it will participate in a big investment in mortgage servicing rights with other entities that its manager oversees.

The National Reverse Mortgage Lenders Association has asked a federal regulator to craft a ‘qualified mortgage’ rule specifically for private reverse mortgages.

The risk of material breach of representations and warranties "should be on the issuer," not the investor.

Increases in conventional mortgage loan applications for both purchases and refinancings contributed to a 1.7% seasonally adjusted increase in overall application volume for the week ended May 4.

Freddie Mac has picked a former chief executive of an online securities brokerage firm to be its new CEO, according to published reports.

Digital Risk said it was starting a task force that aims to set best practices for mortgage risk due diligence.

The Federal Housing Administration’s single-family program is facing headwinds as the HUD secretary tries to keep the insurance fund above water and appease critics who want to reign in government programs.

Fannie Mae posted $3 billion in total “comprehensive” income in the first quarter, and then turned around and paid the U.S. Treasury $2.8 billion in dividends.

An executive at Redwood Trust—the only active jumbo MBS issuer out there—said the firm has been able to expand its business despite challenges, including the government’s continued domination of the market.

What the heck ever happened to Uncle Sam’s subprime (real estate) lender, Springleaf Financial? Good question.

The Mortgage Bankers Association is calling for a merger of Fannie Mae and Freddie Mac’s mortgage bonds both as a “first step” in transitioning into a single security.

It’s been five years since Uncle Sam placed Fannie Mae and Freddie Mac into conservatorship and private investors all but abandoned the housing finance sector.

Webster First FCU Monday denied ownership of a mortgage once held by Saugus FCU, which it acquired last year and that is the target of a lawsuit seeking to halt foreclosure proceedings.

The head of Ginnie Mae said the agency is trying to “triage” its application problem after finding out that over the past year it could approve less than half of all applicants—and that several of those who received a green light have yet to issue any securities.

The housing finance system must be given back to the companies that make mortgages and the borrowers who use them to buy homes, keynote speakers said at the Mortgage Bankers Association’s National Secondary Market Conference.

An American Bankers Association-sponsored mortgage cooperative that sells loans to a select number of investors is looking for new partners.

A timeline Acting FHFA director Ed DeMarco provided to Congress in March targets September as the date for the first single-family risk-sharing deals. But the question boils down to this: What will Fannie and Freddie come up with and will it be profit-enticing enough for the private sector jump on board?