Secondary

Commercial mortgage bonds are getting stuffed with the lowest-quality loans since the financial crisis by one measure, according to Moody's Investors Service.

Overcapacity in the mortgage industry led to more competitive pricing in the first quarter, said Wells Fargo CEO Tim Sloan.

The federal government has opened a criminal investigation into whether traders manipulated prices in the $550 billion market for corporate bonds issued by Fannie Mae and Freddie Mac, according to people familiar with the matter.

Citizens Bank's $511 million acquisition of Franklin American Mortgage will beef up the bank's servicing portfolio and diversify its origination business at a time when higher interest rates have put a damper on refinance volume.

There are almost 7 million coastal homes facing more than $1.6 trillion in potential storm-surge reconstruction expenses this year, representing a 6.6% cost increase from last year's hurricane season.

Fannie Mae is warning mortgage lenders and servicers about possible fraud schemes in Los Angeles County involving "34 apparently fictitious employers being used on loan applications."

Ocwen Financial Corp.'s Chief Financial Officer Michael Bourque has resigned, becoming the second top executive to leave the company after it agreed to acquire PHH Corp.

To make its technology more relevant to the mortgage industry, Fannie Mae is taking a new approach to developing tools that engages lenders earlier in the process and makes lending more efficient.

The borrowers behind the $401.6 million COLT 2018-2 have weighted average liquid reserves of $426,633, or nearly twice the level of borrowers backing a deal completed in January.

Ditech Holding Corp. has received a second notice from the New York Stock Exchange warning its common stock could be delisted for not being in compliance with the exchange's requirements.