Origination

John Robbins has created mortgage production platforms from scratch before, most notably with American Residential Mortgage and American Mortgage Network. But his latest venture, he admitted, was in at least one way a little more difficult because of how the industry environment has changed in the past few years.

White House Press Secretary Jay Carney said Monday that JPMorgan Chase's $2 billion loss reinforces why the Dodd-Frank Act was necessary.

Today's mortgage bankers have to accept very, very long audits as a marketplace reality. Whether they find auditors likeable and useful, on the other hand, is highly disputable.

The long-term rate-indicative 10-year Treasury yield on Monday morning dropped to a low below 1.8% not seen since February.

For almost 95% of mortgage borrowers who refinanced in the first quarter, staying in or moving to a fixed-rate product was the goal, according to the latest Freddie Mac quarterly product transition report.

But what does the eventual resolution of ResCap really mean? Answer: A new, stronger competitor (Nationstar) could rise from the ashes. (If Dan Mudd was still at Fortress -- which owns a piece of Nationstar -- he might be considered the “Comeback Kid.”)

President Obama traveled to a couple's home in Reno, Nevada, on Friday in his effort to pressure Congress into passing legislation that would allow more Americans to refinance their mortgages.

Although Nationstar has agreed to buy most of Residential Capital Corp.’s mortgage assets, the sale is by no means a done deal, according to ResCap CEO Tom Marano.

What is clear after reading the May 9 information release is that when it comes to the CFPB and the Federal Reserve, the left arm clearly does not know what the right arm is doing.

The government controlled Ally Financial Monday morning said its board has voted to place Residential Capital LLC into Chapter 11 bankruptcy protection while it finalizes a deal to sell substantially all of its assets to Nationstar Mortgage for $4 billion. In total, 50 ResCap affiliates are affected by the filing.