Origination

Moody's Investors Service downgraded JPMorgan Chase's prime jumbo mortgage originator assessment to its second-highest rating, citing the bank's growing reliance on correspondents with delegated underwriting authority and shortcomings in its technology infrastructure.

Wells Fargo & Co. is cutting 638 mortgage employees as the nation’s largest home lender contends with a slowdown in the business.

Post-crisis measures made it harder for rogue borrowers and employees to commit fraud. Now, a new threat has emerged from scammers posing as title agents, real estate professionals and more.

Private-label versions of the Federal Housing Administration's Home Equity Conversion Mortgage have spread to the point where a widely-used loan origination system has added technology to handle the product.

In New Mexico, total home sales rose 32% year-over-year for a total of 18,274 homes sold across the state. The median price increased 5.5% to $200,000.

Home sales climbed back up in central Ohio and throughout the state in July, despite dropping nationally to the lowest level in more than two years.

Mortgage industry hiring and new job appointments for the week ending Aug. 24.

Home prices climbed 6.5% in the second quarter from a year earlier, a slower pace that adds to signs of a cooldown in the market.

Intensifying margin pressure could spur another wave of cost-cutting at nonbank mortgage lenders, unless other strategies, like consolidation or a mortgage servicing book that could increase in value, offset it.

Purchases of new homes unexpectedly dipped to the weakest pace in nine months as higher prices and mortgage rates sideline demand, adding to signs of a cooling in the housing market.