Origination

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Single-family housing starts rose in May for the third straight month while multifamily activity fell 24% from April’s construction pace.

PHH Mortgage said it will no longer accept new FHA Streamline refinancings from correspondent lenders unless it is already servicing the loan, according to a memo provided to National Mortgage News.

MSI Mortgage Services III LLC has finally put together all the pieces so it can refinance hundreds of underwater conventional loans per month through the FHA’s short sale program.

Lenders can try as hard as they want to prevent mortgage fraud, but it always seems that the fraudsters will be one step ahead of them when devising a scheme.

Commercial banks reported 25% growth on an annualized basis in their loan portfolios for the week ending June 6, led by a 75% annualized increase in single-family mortgages ($22 billion).

Bay Area home sales jumped almost 15% in May on a sequential basis—and 26% compared to a year ago.

Bay Area home sales jumped almost 15% in May on a sequential basis—and 26% compared to a year ago.

The Federal Housing Administration has rescinded its controversial underwriting requirements for borrowers with ongoing credit disputes slated to go into effect July 1.

A week after it was disclosed that Wells Fargo & Co. would only engage in new FHA Streamline refinancings from its own servicing portfolio, it appears that other large lenders might follow suit.