Servicing

The portfolio includes 11,400 loans with a weighted average interest rate of 3.76% overall and a weighted average interest rate of 3.91% on the 30-year fixed-rate product.

Benjamin Lawsky said the New York State Department of Financial Services investigation found insurers and banks built a network of troubling relationships and payoffs that helped drive premiums sky high.

The Federal Deposit Insurance Corp. plans to sell $221.1 million of securities backed by residential mortgages held by failed banks.

Freddie Mac and its regulator must do more to ensure loan servicers properly respond to complaints over handling of mortgages held or guaranteed by the U.S.-owned company, according to a government watchdog’s audit report.

Data show the link between energy-efficient homes and mortgage default risk is not just a plausible, economically sound theory.

The 30-year mortgage rate dropped to 3.54% and origination projections for the year increased slightly to $1.75 billion from $1.7 billion.

The $34 billion servicing pool is made up of performing Freddie Mac and Fannie Mae-backed mortgages that currently have higher-than-market interest rates and are expected to be refinanced post-closing.

Both Fannie Mae and Freddie Mac closed at $1.08 per share on Wednesday, continuing a spectacular run-up in recent days.

Recent data suggest legislators may have to start considering the pros and cons of expanding the Home Affordable Refinance Program so it includes private-label loans.

Cornerstone Group Development Corporation has agreed to pay millions in damages and to provide Fair Housing Act compliance training to its employees.