Origination

A former Consumer Financial Protection Bureau official is launching a mortgage company next year to originate non-qualified mortgages.

A MortgageMarvel.com analysis of 650,000 mortgage applications filed with 1,100 U.S. lending institutions across the country in 2012 shows buyers are taking advantage of technology to apply for mortgages at all times.

As real estate prices climb in the majority of markets throughout the country, investors are currently becoming more reluctant to purchase the same amount of inventory compared to last summer.

Fannie Mae and Freddie Mac did not make an objection in the Arizona receivership court to the sale of CMG Mortgage Insurance to Arch Capital.

Fixed mortgage rates climbed for the fifth consecutive week in Freddie Mac’s latest survey.

The completion of the foreclosure process in judicial states rose to their highest point in two years, contributing to an overall decline in foreclosure inventories nationwide.

The Scottsdale, Ariz.-based landlord, which began buying foreclosed homes and converting them into rentals last year, had planned to raise as much as $260 million in an IPO this week.

With the housing market recovering, Wells Fargo plans to ramp up the marketing of a credit card that allows customers to use reward points to pay down their mortgage.

One company sold a package of fixed-rate and agency-backed MBS. It then parked the proceeds into variable-rate mortgage securities.

Residential sales and construction activity increased at a moderate to strong pace in all 12 Federal Reserve Bank districts since the last Beige Book was issued in early April.