Origination

In the wake of a political deal to solve the nation's debt ceiling crisis, the yield on the benchmark 10-year Treasury fell to 2.7% Monday, which usually means mortgage rates are headed south as well.

DALLAS - As servicers continue to manage the deluge of distressed homeowners and nonperforming mortgages, short sales are becoming an effective loss mitigation strategy.

U.S. senior fixed-income investors are taking a more conservative view of cross asset credit conditions on the back of recent macroeconomic concerns, according to a Fitch Ratings fixed-income forum survey of fixed income professionals, conducted in June.

In a major defeat for the National Credit Union Administration, a federal judge Friday agreed to dismiss negligence charges brought by the federal regulator in a civil suit against 11 directors of the one-time $34 billion corporate credit union, all of them prominent figures in the credit union movement.

Texas Tech Federal Credit Union in Lubbock has chosen MRG's Miracle Online platform for its mortgage document preparation needs.

Arizona State CU has begun offering its members low-down payment, low-rate loans to buy homes currently owned by Fannie Mae, the Phoenix-based credit union said.

Here we are five months into this series, the Dentist Diaries. Time flies when you are having fun, but not when you are having dental work done, nor when you are working on a tough loan file. This month I will share with you about some "unintended consequences" in both cases.

CU Companies, a mortgage service organization owned by credit unions in the New Brighton, Minn. area, has launched a correspondent purchase program for member institutions.

State regulators fined Mortgage Access Corp., an affiliate of realty giant Weichert, $3 million for using unlicensed mortgage originators. The settlement covers 10 states.

When it comes to residential finance and the nation's megabanks, the second quarter was a case of "the bigger they are, the more they suffer" with glimmers of hope here and there.