Origination

Effective September 3, mortgage industry veteran Vickie Tillman is the new president of Morningstar Credit Ratings, LLC.

The preliminary title report does not bind the title company.

An industry trade group is pressing the Consumer Financial Protection Bureau to provide more clarity on its servicing rules to ensure an array of loan modification options will be available to troubled borrowers.

There were 15 of the 17 Mortgage Industry Equity Composite members that closed higher on Thursday as the market gets ready for Labor Day.

Implementing eminent domain may present inconsistencies in solving the root cause of the housing problem in the U.S., create unintended consequences for both borrowers and investors, and inadvertently limit mortgage lending activity, Standard & Poors said in a report.

U.S. residential properties sold at an estimated annualized pace of 5.5 million in July, which is up 11% from last year.

The Department of Housing and Urban Development Mortgagee Letter 2013-26 provides minimum underwriting standards for evaluating borrowers who have lost their job or had another event which resulted in reduced income.

Independent banks and their subsidiaries reported loan profits of $1,528, which is down from $1,772 on loans originated in the first quarter.

The Department of Housing and Urban Development has given four organizations a total of nearly $13 million in grants that will end up creating at least 718 affordable homes.

Zais Financial Corp., Red Bank, N.J., has purchased a residential mortgage loan portfolio with an unpaid principal balance of $98.2 million.