Origination

Senior mortgage bond holders that are being serviced by Litton Loan Servicing could be in for some cash flow disruptions because of the Ocwen deal, according to a new report from Moody’s Investor Servicer.

The Massachusetts Department of Banking told a credit union-owned mortgage lender in a new legal opinion that its mortgage officers must obtain state licenses under the SAFE Act.

The Federal Reserve’s recent sales of Maiden Lane II assets culled from AIG continue to influence broader structured products markets and subprime mortgage assets, according to a new report from Interactive Data.

Only two million or so households have enough equity in their homes and high enough credit ratings to be viable candidates for home equity lending, according to an analysis by strategists at Lender Processing Services. But within that "sweet spot" lie a number of opportunities for lenders who dare to be creative, they said at CBA Live 2011.

If there’s one issue in all of finance that sorely needs some sorting out, it’s mortgage regulation and compliance. Dodd-Frank, TILA-RESPA reform, risk retention, servicing agreements and consent orders, qualified residential mortgages, Basel III, there are seemingly dozens of new laws and regulations mortgage lenders must comply with.

The Department of Justice has more than a dozen open investigations into violations of the nation's fair lending laws -- probes that could lead to charges against mortgage firms if investigators find a pattern of abuse, according to a key department official.

St. Mary's Bank, Manchester, N.H., has pledged to make $2.5 million in new funds available for low-income Home Loan Payment Relief, or HLPR, mortgages, the subprime mortgage program developed by the Credit Union National Administration.

FEMA administrator Craig Fugate is urging Congress to act on a multi-year extension of the National Flood Insurance Program to create more stability in the housing market.

Nearly 95% of all the refinancings funded by Freddie Mac in the first quarter were into a fixed-rate loan product, according to the company’s Quarterly Product Transition Report. The study only covers loans where Freddie Mac funded the original mortgage.

Low interest rates and consumers’ “flight to safety” is what Shimmy Braun attributes his success to for 2010. Braun, who works at Guaranteed Rate, Chicago, was No. 2 in the Origination News survey by dollar volume at $225 million and No. 3 by number of units originated with 722.