Origination

Wells Fargo & Co. – as the industry is quite aware – is a dominant force in both residential production and servicing, but it continues to tower above all competitors in the GNMA MBS market.

The mortgage industry is having growing concerns about a payroll tax relief measure that would raise GSE guarantee fees by 12.5 basis points, using the additional revenues to pay for other government programs.

Citigroup Inc. has started job cuts this quarter that will affect nearly 4,500 people, chief executive Vikram Pandit said on Tuesday.

Matt Morris, who was recently appointed as chief executive of Stewart Information Services Corp., Houston, has created an executive team at the company.

U.S. Bankruptcy Court has ordered Mercer Rug Cleansing to sell its four real estate and business assets through auction.

Agency prepayment speeds came in line with expectations in the 30-year sector, where they were up 3% from the previous month, according to Credit Suisse's fixed income research report Wednesday.

Even though foreclosures and distressed properties will remain a significant part of the home sales market in Florida next year, plus the macro economic headwinds, economists cited by the state's Realtors said the market is in "a mini-recovery."

Walker & Dunlop Inc., a commercial mortgage banker, has opened an office in Nashville, which will focus on multifamily and healthcare loan originations through the Federal Housing Administration insurance program.

Care Investment Trust Inc., New York, has sold its interest in a medical office portfolio in order to concentrate on the senior living sector.

Servicers refinanced more than 85,000 high LTV loans under the Home Affordable Refinancing Program in the third quarter, up nearly 11% from the prior period, according to new figures compiled by the Federal Housing Finance Agency.