Origination

The Treasury Department, which controls almost 75% of Ally Financial, named investment banker John Durrett to the bank holding company's board of directors.

Homebuyers struggling to come up with a 20% downpayment can rely on relatives or others to put up half the money under a risk retention proposal federal regulators are about to unveil.

The Consumer Financial Protection Bureau is working on a one-page RESPA/TILA disclosure form that will be "low cost" for lenders to fill out, according to Treasury advisor Elizabeth Warren who is managing the new bureau's inception.

The Eleventh Federal Home Loan District Cost of Funds Index fell two basis points in January, to 1.484%. This is the 10th consecutive month of decline in the index, which has been used by some West Coast lenders to set adjustable-rate mortgages.

California's home builders are hoping for a better year this year than last. But January didn't start off with much of a bang.

Federal regulators have drafted a 'qualified residential mortgage' rule that mandates a 20% downpayment for such loans while leaving mortgage insurance totally out of the equation -- a move that could prolong the housing recession in several states and decimate the mortgage insurance industry.

Essent Guaranty Inc., the nation's newest private mortgage insurer, says it will protect mortgage lenders from having their claims "unfairly denied for immaterial misrepresentation, underwriting errors and missing documents."

Who says affordable housing properties have to be bland? Not members of the National Housing and Rehabilitation Association, some of whom are developing what they describe as the next generation of low-income housing.

PHH Corp., Mt. Laurel, N.J., reported net earnings of $181 million for the fourth quarter and $48 million for the full year 2010, helped by strong performance in its mortgage segment, company executives said.

Last year’s changes by the Federal Housing Administration in its originator approval practices are the primary motivator for the latest acquisition by a Roswell, N.M.-based branching company.