Origination

Ares Management LP won a $700 million commitment to invest in U.S. commercial real estate for a life insurance client.

Lower litigation costs helped Bank of America's mortgage unit curb its losses, while Citi's fourth quarter origination volume dropped 18% from a year ago.

Lennar Corp., the biggest U.S. homebuilder by market value, said fiscal fourth-quarter earnings climbed about 50% as it sold more houses at higher prices.

Applications for new home purchases dropped slightly in December compared to the month before, according to the Mortgage Bankers Association.

While put-backs and litigation risk are widely recognized as factors that have contributed to tight credit conditions, another factor — high servicing costs for nonperforming loans — is being overlooked.

Mortgage rates fell for a second week, holding at the lowest level in more than a year and a half, as declining financing costs boost loan demand.

The Green Lender Award acknowledges a lender that uses technology to promote sustainable and environmentally conscious business practices in the mortgage industry. Learn about this year's finalists and see who won the 2014 MT Award.

The Supreme Court has denied an appeal from several banks regarding a lawsuit filed by NCUA concerning the sale of mortgage-backed securities that contributed to the failure of two corporate credit unions more than seven years ago.

A federal agency's plan to tighten membership rules for Federal Home Loan banks would hurt community banks and credit unions — and could endanger the financial system, according to a broad array of stakeholders, including state regulators, lawmakers and institutions.

Wells Fargo saw more of its origination volume come from refinancings, while JPMorgan Chase continues to rebuild its correspondent channel, the banks said in their fourth-quarter results.