Origination

The president of the California Association of Mortgage Professionals is warning that the eminent domain proposal being considered by San Bernardino County and the cities of Ventura and Ontario could curtail new mortgage lending in those municipalities.

Average rates for 30- and 15-year fixed rate mortgages rose a bit in Freddie Mac’s latest weekly survey, and a significant rise in a key long-term rate indicative bond yield Thursday morning suggests they could continue to increase.

With less than two months before the annual Mortgage Technology Awards ceremony, the judges’ panel is pleased to announce the finalists for this year’s awards.

One in every 686 housing units nationwide either had a default notice, scheduled auction or bank repossession on their property in July.

How long will Fannie Mae and Freddie Mac stay this profitable? Answer: as long as their cost of funds (courtesy of Uncle Sam) stays at next to nothing, and the yield on their interest earning assets remains healthy.

DocMagic and Ellie Mae have yet to settle their legal dispute and the presiding judge granted an extension to his deadline for the companies to come to terms.

After reaching its lowest mark in almost three years in the first three months of 2012, Interthinx’s national mortgage fraud risk index trended up again in the second quarter.

The Federal Housing Finance Agency threatened Wednesday that it would take action against municipalities that attempt to use eminent domain to refinance underwater mortgages.

Rep. Scott Garrett (R-NJ), Chairman of the Financial Services Subcommittee on Capital Markets and Government-Sponsored Enterprises, will be the keynote speaker at National Mortgage News’ 2nd annual Mortgage Regulatory Forum on Thursday, Sept. 13 in Arlington, Va.

Redwood Trust, the most active player in the jumbo securitization market, wants to buy already funded Fannie Mae/Freddie Mac loans from mortgage bankers and service the product through a subservicing firm called Cenlar.