Origination

The U.S. Supreme Court has decided it "improvidently granted" a writ of certiorari in First American v. Edwards, and has in essence kicked the case back to the trial court.

The operators of an allegedly deceptive mortgage modification business will pay more than $750,000 in ill-gotten gains to settle Federal Trade Commission charges. The settlements also permanently ban the 11 defendants from selling any mortgage assistance relief products.

The Federal Savings Bank in Overland Park, Kan., said it will open its national home loan center in Chicago's West Loop neighborhood and staff it with as many as 400 new employees.

Despite recent advances by credit scoring companies, the mortgage industry still questions whether credit scores can be relied on to predict borrower behavior.

Despite 12 years of education to the industry, there are still a lot of misconceptions out in the trenches about what e-mortgages are and where they can be used.

Fitch Ratings has downgraded seven classes from six different Home Equity Conversion Mortgage securitizations.

Ellie Mae’s secondary stock offering priced higher than expected and at $17 per share, will raise between $48.16 million and $55.36 million, after expenses, for the mortgage technology vendor.

To expedite the legislative process, House and Senate leaders are trying to combine three major bills, including a flood insurance bill, into a single package that both chambers can pass before Congress leaves for its July 4 recess.

Interest rates for the 30-year and 15-year fixed-rate mortgage matched their all-time lows as the 30-year FRM was unchanged from last week's 3.66%, while the 15-year FRM fell one basis point to 2.94%.

After shunning homebuilders for the last five years, investment capital is starting to find its way back into the new home market.