Origination

The guarantee fee that Fannie Mae and Freddie Mac charge to their seller/servicers fell to 22 basis points last year from 25 the year before, according to a new study conducted by the Federal Housing Finance Agency.

A New Jersey loan modification company and its owners have agreed to a judgment of $5,051,253 to settle civil charges they defrauded homeowners who sought help in avoiding mortgage foreclosure.

The Department of Housing and Urban Development is selling some seized homes in the Cleveland area for as little as $100.

Fannie Mae and Freddie Mac's common and preferred stock began trading on the over-the-counter market Thursday morning, as directed by their regulator.

Sun Bancorp Inc. of Vineland, N.J. said billionaire investor Wilbur Ross' private equity firm, Sun's founding Brown family and others will invest $100 million in equity in the bank, news that sent its stock soaring 37% on Thursday.

After months of raising standards for single-family lenders, the Federal Housing Administration tightened guidelines for multifamily mortgages for the first time in the 40 years it has insured such loans.

The delinquency rate of home equity lines of credit fell for the second consecutive quarter and missed payments on closed-end home equity loans fell in the first quarter for the first time in two years, according to an American Bankers Association survey.

The latest average weekly rate for a Freddie Mac 30-year fixed-rate mortgage beat the previous week's survey-record low by a hair, but the average 15-year FRM rate rose slightly.

Wells Fargo & Co. is pulling the plug on its consumer finance division, and will cease production of all nonprime mortgage loans funded through the unit.

Mortgage bankers originated $22.3 billion of Federal Housing Administration backed single-family loans in May, down 3% from April, according to new figures released by the government.