Origination

For the second time in 2013, Charles Head was convicted by a federal jury in the Eastern District of California for operating a major mortgage fraud scheme.

The product is available in 10 states on conforming, owner-occupied loans with a maximum $300,000 purchase price, a 5% downpayment and a minimum 750 Fair Isaac & Co. credit score.

The National Fair Housing Alliance has accused big banks of discriminating against minorities in the upkeep of foreclosed properties and is seeking millions in settlements—mostly for itself. Behind its demands are faulty data and grants overseen by a federal official with close ties to the group.

New policies spell out "business interactions" between mortgage insurers and servicers.

Since the fall of 2011, national property values are up 17%. But in November, quarterly growth was 1.8%, down from the previous quarter’s 3.3% uptick.

The pass-through deal consists of beneficial interests in a three-year loan, floating-rate loan that has two one-year extension options, according to Fitch. Five mall properties cross-collateralize the mortgage.

Borrowers whose homes were damaged by the November tornadoes are being offered mortgage relief options by the government-sponsored enterprise including forbearance for up to one year.

I talked with a loan officer who saw her glass as half-empty and asked Facebook, What do you do when you need more business? I received a ton of responses.

An outsourcing services provider is buying a capital markets consultancy for $75 million, and separately a mortgage company is outfitting its new servicing unit with lien-release technology.