Origination

Now that Wells Fargo has tossed its wholesale division into the deep dark sea, the question becomes: who’s next among the megabanks to leave?

The Census Bureau reported that sales of newly built single-family homes fell to a 350,000 seasonally adjusted annual rate in June from a 382,000 rate May.

Residential loan applications increased 1% for the week ending July 20 (from the week prior) but with refinancings accounting for 81% of all new business.

Moody’s calculates loan-to-value ratios for commercial mortgage-backed security debt transactions from more of a credit perspective.

Seven affordable housing groups are urging the Department of Justice, HUD and federal regulators to investigate whether the prevalence FHA and VA lending in minority neighborhoods—and the low percentage of conventional lending—is a result of racial steering.

In a joint letter, four trade associations note that paying commissions based solely on loan volume does not run afoul of the Dodd-Frank Act.

Why do we stop doing things we know we should be doing?

Forget refinancing. A new hypothesis suggests targeted modifications would be much more effective in easing the negative equity crisis.

Alan Potts, until recently a senior vice president in charge of wholesale lending at Carrington Mortgage Services, has left the company.

Mortgage vendor Nationwide Title Clearing is continuing to hire new employees, adding 66 full-timers in the second quarter.