Origination

James Delbert McConville, a Fremont man, was sentenced to nearly eight years in prison and must pay more than $7 million in restitution after being convicted of conspiring to commit mail and wire fraud, federal prosecutors said.

More information from an anonymous contributor who wanted me to spread the word about how if you don’t feel good, your business will suffer.

Industry veteran Mark Korell, who four years ago joined the mortgage division of JPMorgan Chase, has left the company, according to colleagues who are close to him.

Experian has agreed to sell a trio of consumer comparison shopping sites, including mortgage lead generation site LowerMyBills.com, to Ybrant Digital, Hyderabad, India, for $175 million.

Once again the government is taking out the mortgage crisis on nonbanks, their loan officers and mortgage brokers. On Monday National Mortgage News will publish a more detailed story about the mess, but suffice to say there are many things that rankle nonbanks concerning the Consumer Financial Protection Bureau’s new mortgage compensation rule.

Despite complaints from community bankers and some lawmakers about overzealous examiners, Federal Reserve Board Chairman Ben Bernanke on Thursday defended the central bank's examination staff, saying recent analysis suggests they are acting appropriately.

The average primary market rate for a 30-year fixed-rate mortgage during the week ending May 10 set a new record low a basis point lower than the previous week’s at 3.83%.

The Consumer Financial Protection Bureau is considering the use of its special regulatory powers to blunt certain provisions in the Dodd-Frank Act that would ban consumers from paying upfront fees -- such as discount points or origination fees, when the loan officer is being compensated on the back-end by the buyer or table funder.

The National Reverse Mortgage Lenders Association has asked a federal regulator to craft a ‘qualified mortgage’ rule specifically for private reverse mortgages.

Deploying dual monitors improves the transition to paperless.