Origination

A bipartisan group of lawmakers is looking to amend a lending provision that classifies certain types of loans used to purchase manufactured housing as predatory.

Mortgageguy70 makes the observation on the Mortgage Grapevine that three of the top four correspondent loan purchasers have abandoned the channel.

Old Data is dead, long live New Data.

A bill aimed at speeding up the residential mortgage foreclosure process in Florida made it one step closer to becoming a law.

Bank of America asked a federal judge to dismiss a $1 billion fraud lawsuit filed by the U.S. alleging it sold defective residential mortgage loans to Fannie Mae and Freddie Mac that defaulted.

Ridgewood Savings Bank is working toward also starting a correspondent channel.

MGIC Investment Corp. lost $73 million in the first quarter, compared with a loss of $387 million in 4Q12 and $20 million in 1Q12.

As the mortgage industry contemplates its future, it is time to also consult with housing counselors.

The U.S. homeownership rate dropped to 65% in the first quarter, the lowest rate since 1995.

Since the economic downturn mortgage fraud has been a prevalent issue plaguing the housing industry for several years.