Origination

Navy Federal Credit Union, the largest CU player in mortgages, funded $944 million of single-family loans in the second quarter, a 56% decline from the same period last year.

The Federal Housing Administration is clamping down on refinancings where a second lien is involved.

A smaller percentage of U.S. homeowners had so-called "underwater mortgages" in the second quarter as more homes entered the foreclosure process even as price declines slowed, real estate Web site Zillow.com reported today.

NexBank of Dallas has launched a warehouse lending division, offering lines of credit of up to $10 million to nondepositories.

Freddie Mac is getting tough on seller/servicers that are not meeting their obligations to buy back mortgages that went afoul of the GSE's underwriting guidelines.

Scrutiny of so-called free credit report services is increasing as the Federal Trade Commission, in keeping with its consumer protection mission, has intensified its ongoing scrutiny of credit-related services due to concerns that, among other things, scores can affect would-the ability to get a loan.

California's Franchise Tax Board will cease accepting applications for the state's first-time existing home buyers' tax credit at midnight, August 15, but will continue to take applications for the tax credit from buyers of new houses.

Candy Metzler helped the people in her region recover after Katrina. She also has managed to become a top producer, while, at the same time, overseeing a branch office.

The need for the mortgage broker business still exists as consumers have needs that retail lenders are unable or unwilling to meet, ON found in talking with the leadership of the National Association of Mortgage Brokers during its midyear meeting in Phoenix.

The Federal Reserve could easily purchase mortgage-backed securities or other assets with the cash it gets when existing MBS holdings roll off the government's books, but late Friday questions about whether this would be an effective means of economic stimulus persisted.