Origination

Life insurers saw a 68 basis point improvement in returns on their commercial mortgage investments in the first quarter when compared with the fourth quarter, according to the LifeComps Commercial Mortgage Performance Index. But when looked at against the first quarter 2010, returns are 253 basis points down.

The yield on the benchmark 10-year Treasury fell to 2.57% Wednesday -- compared to just under 3% last week – as stocks plunged in both the U.S. and overseas markets.

Lower mortgage rates, driven by the debt ceiling negotiations and bad economic news, led to a 7.1% increase in application volume the week ended July 29, according to the Mortgage Bankers Association. But, an economist with the group pointed out, refinance volume is still 30% lower than it was at this time last year.

Home prices increased by just under 1% in June from the prior month, marking the third consecutive monthly increase, according to new figures compiled by CoreLogic, Santa Ana, Calif.

A federal court judge in Washington has dismissed a case filed by AARP Foundation against the Department of Housing and Urban Development where the plaintiffs had been the surviving spouses of a Home Equity Conversion Mortgage borrower, but not listed on the loan.

On Tuesday, Freddie Mac suspended Republic Mortgage Insurance Co. as an approved mortgage insurer, according to an email it is sending to its sellers.

Tuesday was a bad day for mortgage stocks as investors switched their worries from the debt ceiling compromise to the overall economy, an attitude that took out most of the publicly traded mortgage related stocks as well.

Fannie Mae purchased $41.4 billion of home mortgages from its seller/servicers in June, its best purchase month of the second quarter, and a sign that originations in the primary market may be on the upswing.

Consumers who refinance are continuing to pay down their loans, at least in part, hoping to save thousands of dollars over the long haul, according to new figures compiled by Freddie Mac.

First Guaranty Mortgage Corp., McLean, Va., has rolled out its new line of products for underserved niches aimed at correspondent lenders.