Origination

Bank of America continues to say that it's committed to retail mortgage lending, but the megabank suffered another blow recently with the departure of one of its top loan producers in the nation, Kevin Budde of Southern California.

Mortgage companies continued to pare back their payrolls in August as lenders cut 2,800 full-time employees during the month, following 1,900 layoffs in July.

The Obama Administration's efforts to expand a GSE refinancing program and reach a large number of underwater borrowers will depend on how far the Federal Housing Finance Agency will go in providing lenders relief from loan buy-backs, according to industry officials and analysts watching the effort.

Three quarters of commercial real estate executives surveyed by KPMG LLC said distressed real estate would have an impact on their investment strategies over the next 12 months.

Rep. Elijah Cummings, D., Md., ranking member of the House Oversight Committee, and other members of Congress are set to meet with GSE regulator Ed DeMarco Thursday afternoon to discuss President Obama's yet-to-be released refinancing plan.

An analyst for FBR Capital Markets thinks Walter Investment Management could see the servicing rights for more loans coming to it from the Bank of America/Fannie Mae transaction.

GMAC Mortgage LLC, Fort Washington, Pa., and Loan Value Group, Rumson, N.J., have partnered in an effort to provide cash incentive rewards to certain VA borrowers who are under water on their loans, make timely and consistent payments on their mortgages and meet other criteria.

The 30-year fixed-rate mortgage, continuing to test new lows, dropped below 4% for the first time in modern history to 3.94% during the week ending Oct. 6, according to Freddie Mac's weekly survey.

The tax code may be broken, but now's not the time to fix it, at least as it pertains to the mortgage interest deduction and other write-offs afforded home owners, witnesses testified at a Senate hearing on tax reform options.

The Mortgage Technology Awards have a long tradition in the mortgage finance and technology industries for recognizing innovative technology developers and users that are promoting more efficient and cost-effective lending practices.