Origination

As if depressed property values squelching the real estate market weren't enough of a challenge, there is another big factor working against what are attractive interest rates: regulatory and legislative uncertainty.

Pentagon Federal Credit Union wanted a mortgage loan that would serve as a differentiator, and says it has found it in its 5/5 ARM product.

Radian Asset Assurance announced the successful acquisition of Municipal and Infrastructure Assurance Corp. (MIAC) on Thursday, following the approval of its regulator, the New York Insurance Department.

More than 10 states recently made legislative and/or regulatory changes related to real estate loans and foreclosures, according to MRG Document Technologies, which regularly tracks such compliance changes.

Fannie Mae and Freddie Mac have taken a big chunk of the jumbo mortgage market away from private investors since 2008 when Congress raised the maximum GSE loan limit to $729,750, according to researchers at the Federal Housing Finance Agency.

G8 Capital, Ladera Ranch, Calif., has named Aaron Murray to head its nonperforming loan acquisitions team.

The nation’s top three megabanks – Wells Fargo & Co., Bank of America, and JPMorgan Chase – saw their second lien production volumes swoon in the first quarter, according to new figures compiled by National Mortgage News and the Quarterly Data Report.

Google has built off its early results providing mortgage rate searches by launching a one-stop shopping tool for consumers, allowing them to compare residential loans and other consumer banking products.

The No. 3 producer for 2010, Kevin Lyons, has been in the mortgage business for nearly 14 years. Obviously, during that period he has developed a lot of relationships with consumers and other partners.

Genworth Financial earned $82 million in the first quarter, a 54% drop from the year ago, as continued losses at its mortgage insurance unit held back the company’s financial recovery.