Origination

Impac Mortgage Holdings reported second-quarter profits of $1.2 million, compared with a loss of $738,000 in 1Q13 and profits of $4.2 million in 2Q12.

The Justice Department and the Securities and Exchange Commission have both filed civil lawsuits against Bank of America alleging that the financial institution and certain affiliates defrauded investors about the riskiness of $850 million in residential mortgage-backed securities.

Freddie Mac posted earnings of $5 billion in the second quarter, up from $4.6 billion in the first quarter.

Given the spike in interest rates over the past couple of months, even a small increase in application volume of 0.2% on a seasonally adjusted basis for the week ended Aug. 2 could be considered as good news.

The rising interest rate environment of the past couple of months has brought home the point to mortgage originators that they need to be mining purchase leads going forward.

Churchill Mortgage has introduced “Purchase Guaranteed Close,” a program that ensures timely closing of mortgage loans.

Five California men were sentenced for defrauding hundreds of victims in a real estate scam that included collecting upfront fees for promising loan modification services that never occurred.

There were more losers than winners on the Mortgage Industry Equity Composite on Tuesday, 10 to seven.

The Trulia Price Monitor for July was down 0.3% on a seasonally adjusted basis compared with June, the first decline in seller asking prices on a month-to-month basis since last November.

A former reverse mortgage loan officer introduced his concept involving referral groups at the Florida Association of Mortgage Professionals show.