Origination

Three separate businesses each had a series of nonperforming loans that are classified as specially serviced assets recently downgraded by Fitch Ratings because future losses are expected on these loans.

The National Association of Realtors’ leading indicator of future home sales hit a downdraft in April after three months of solid gains.

Wells Fargo in an agreement that dismisses a lawsuit filed by area officials said it would provide $4.5 million worth of mortgage downpayment and home renovation assistance to certain borrowers in the Memphis region as well as put another $3 million into other local initiatives.

The commercial mortgage-backed security delinquency rate reached an all-time high in May at 10.04%, up 24 basis points from the prior month.

The long-term rate-indicative 10-year Treasury yield slipped below its previous 52-week low of 1.7% early Wednesday morning, signaling downward pressure on rates.

Several contract rates tracked by the Mortgage Bankers Association hit new lows during the week ending May 25, but seasonally adjusted overall application numbers inched downward in data unadjusted for early holiday closes the Friday before Memorial Day.

The president and chief executive of the Mortgage Bankers Association, David Stevens, is stepping down after one year to become the president of SunTrust Mortgage.

When he first came up with the concept for LenderCity Home Loans just before the turn of the century, Gregg Harris ended up being a few years ahead of his time.

Back in the year 2000, when Franklin Raines held the title of chairman and chief executive officer of Fannie Mae, Rep. Richard Baker, R-La., sponsored the Housing Finance Regulatory Improvement Act. This bill not only asked for increased oversight over Fannie and Freddie but also recommended unifying the regulation of Fannie and Freddie under one roof.

Regulators’ efforts to strengthen the oversight of the shadow U.S. banking system, which plays an important role in mortgage-backed securities financing, appear to be paying off.