Origination

The Department of Housing and Urban Development has rescinded a controversial mortgagee letter for its Home Equity Conversion Mortgage program addressing some consumer and industry concerns, but a consumer watchdog group involved in a case contesting the letter said it is still keeping an eye on the agency regarding its policy on loan payoff amounts.

JPMorgan Chase saw its mortgage-related revenue get hammered in the first quarter, falling a stunning 75% to $696 million (compared to 4Q), as originations declined and the firm focused resources on its massive servicing portfolio and dealing with legal issues tied to that business.

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Mortgage application volume decreased by 6.7% on a seasonally adjusted basis for the week ended April 8 as the average rate for the 30-year fixed-rate mortgage rose for the fourth consecutive week, according to the Mortgage Bankers Association.

A growing share of loans originated by banks are coming through their wholesale/correspondent channel, according to the American Bankers Association's annual real estate lending survey.

Not only is Wells Fargo & Co., the nation’s largest residential funder of home mortgages, it is also the largest originator of FHA and VA loans.

Mortgage-related mergers and acquisitions should pick up a head of steam this year, according to a new report from Milestone Advisors.

Despite the economic recovery, demand for single-family housing is declining while the need for rental apartments is rising, according to speakers at an Urban Land Institute conference in Washington.

Two executives from a mortgage banker last week used a method to close on the acquisition of the assets, liabilities and charter of a distressed institution that one of the executives said hasn’t been seen in more than three years.

You're never going to guess which big-time housing market has enjoyed the greatest year-over-year price gains?