Origination

Nationstar, which recently sold stock to the public, is continuing negotiations to buy Residential Capital Corp./GMAC from Ally Financial through a prepackaged bankruptcy agreement.

The head of Ginnie Mae said the agency is trying to “triage” its application problem after finding out that over the past year it could approve less than half of all applicants—and that several of those who received a green light have yet to issue any securities.

Jay Sidhu has stepped down as the chairman of Atlantic Coast Financial because he believes the Jacksonville, Fla.-based lender was failing to “mitigate or significantly reduce risks facing the bank.”

The housing finance system must be given back to the companies that make mortgages and the borrowers who use them to buy homes, keynote speakers said at the Mortgage Bankers Association’s National Secondary Market Conference.

Citing a lack of transparency for both consumers and mortgage professionals, Experience 1 Inc. and its operating units Advantage Title and Title365 have come out with a new online platform Title365.com.

Warehouse club Costco Wholesale started partnering with banks to offer mortgage services online last year, and it wants to get into auto lending and, perhaps, student loans.

HARP 2.0 is hot – or so we keep hearing. Late last year the Treasury Department finally found the keys to the HARP kingdom: take the loan-to-value ratio girdle totally off the patient and see what happens.

Las Vegas-area home sales rose in March to a level not seen in six years.

An American Bankers Association-sponsored mortgage cooperative that sells loans to a select number of investors is looking for new partners.

HSBC Bank USA said that it has inked a deal to transfer roughly $52 billion of residential servicing rights to PHH Corp., which also will absorb two-thirds of its mortgage work force.