Origination

Prospect Mortgage LLC, Sherman Oaks, Calif., has agreed to pay the Department of Housing and Urban Development $3.1 million to settle charges that it created sham affiliated business arrangements as part of a scheme to share in “kickbacks” paid to these joint ventures.

The House of Representatives late Tuesday passed a five-year extension of the National Flood Insurance Program by a 406-22 vote that attempts to make the NFIP more actuarially sound.

Fidelity National Financial Inc. on Wednesday agreed to sell its flood insurance business to WRM American Holdings LLC for $210 million.

The number of contracts signed for existing houses in Baltimore dipped a bit in June, but it was still the best June in Charm City in four years, according to the local multiple listing service.

Residential application volume declined for the fourth consecutive week -- this time by just over 5% for the week ending July 8, according to new figures compiled by the Mortgage Bankers Association.

Financial peace of mind is now six times more important than accumulating wealth to Americans 55 and older, with 82% saying it is their key financial goal, a survey conducted for SunAmerica Financial Group found.

One of the mortgage industry’s biggest advocates for the reverse mortgage product believes there is still a future for the Home Equity Conversion Mortgage in the wake of Wells Fargo discontinuing its production operations, but the Federal Housing Administration needs to make changes to its rules.

President Obama on Tuesday officially appointed Carol Galante to serve as the new acting commissioner of the Federal Housing Administration, overseeing the agency's single family and multifamily programs.

Republican leaders on the House Financial Services Committee are coming under strong criticism for taking a piecemeal approach to winding down Fannie Mae and Freddie Mac while ignoring several comprehensive GSE reform bills that address the future of the housing finance system.

Fidelity National Financial, Jacksonville, Fla., has agreed to pay the Department of Housing and Urban Development $4.5 million to settle allegations of the anti-kickback provision of the Real Estate Settlement Procedures Act.