Origination

SpringLeaf Finance Corp., which is partly controlled by the U.S. government, has entered into another round of layoffs, and may have to file for bankruptcy protection.

Some loan officers hate appraisal management companies (AMCs) and here’s why: Several megabanks control AMCs through joint ventures and are making huge fee income while paying rank and file appraisers little.

Crockett National Bank, San Angelo, Texas, has purchased a controlling interest in Legacy Mutual Mortgage, a San Antonio-based mortgage banker.

Competition is heating up among banks in the government's revised Home Affordable Refinance Program, which has helped spark a refi boom and contributed to strong mortgage profits at most banks.

Increases in conventional mortgage loan applications for both purchases and refinancings contributed to a 1.7% seasonally adjusted increase in overall application volume for the week ended May 4.

Freddie Mac has picked a former chief executive of an online securities brokerage firm to be its new CEO, according to published reports.

Decisions such as the definitions for qualified mortgage and qualified residential mortgage are being made in isolation that will have unintended consequences when they are rolled out, such as limiting competition between private mortgage insurers and the Federal Housing Administration.

Digital Risk said it was starting a task force that aims to set best practices for mortgage risk due diligence.

The Federal Housing Administration’s single-family program is facing headwinds as the HUD secretary tries to keep the insurance fund above water and appease critics who want to reign in government programs.

Senate Democrats may try to fast-track a bill to open up the HARP 2.0 program so more lenders can refinance high LTV Fannie Mae and Freddie Mac loans held by large servicers.