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When Bank of America Corp. announced its mortgage backed securities settlement last week the company warned that activist investors would likely fight it. It was right.
July 6 -
Residential Mortgage REITs in the second quarter are generally likely to continue seeing results more or less in line with the prior one despite a somewhat volatile operating environment between April and June, according to some analysts.
July 6 -
The Federal Housing Administration is considering tightening borrowers' debt-to-income ratios, a move that would prevent the most highly leveraged consumers from qualifying to buy a home.
July 6 -
Mortgage application volume declined for the third consecutive week, this time by 5.2% for the week ended July 1, according to the Mortgage Bankers Association.
July 6 -
Mortgage servicers participating in the Home Affordable Modification Program are starting to use principal reduction more often to help underwater borrowers and make their payments more affordable.
July 6 -
JPMorgan Chase & Co. can't stop trying to make up for its transgressions against military personnel.
July 5 -
Lawyers for the National Credit Union Association told a federal judge in Los Angeles that the federal agency's June 20 suits against JPMorgan and RBS Securities should not exonerate officers and directors of WesCorp FCU in the 2009 failure of the one-time $34-billion corporate credit union.
July 5 -
PMI Group Inc., Walnut Creek, Calif., said it started on July 1 to write new business in two states through a subsidiary it set up as a contingency for when its main mortgage insurance underwriting subsidiary would exceed the risk-to-capital ratio mandates that 16 states have.
July 5 -
TSS Software Corp. added a transaction-based pricing option to its TitleSphere software-as-a-service for HUD-1 and Good Faith Estimate document preparation.
July 5 -
Bank of America has named Mike Hall to replace Paul Szymanski as the head of its warehouse lending business. Szymanski left B of A to reunite with former Countrywide Credit Industries president Stanford Kurland and start a warehouse lending business at PennyMac.
July 5
