Secondary

A federal appeals court in Texas agreed with Fannie Mae and Freddie Mac shareholders that the FHFA, led by a single director, violates the separation of powers.

Unusually for a debut transaction, the $329.7 million M360 2018-CRE1 will be actively managed: For the first 12 months after the closing date, funds from repaid principal can be used to purchase new loans, subject to eligibility criteria.

Bank of America's residential mortgage origination volume fell short of last year's in its second-quarter earnings despite gains from digital sales and seasonal home buying, and broader consumer lending strength.

To keep winning business in an increasingly competitive loan channel, United Wholesale Mortgage is giving brokers more control of the borrower relationships that persist even after loans close.

This year's sluggish spring home buying season led to generally softer mortgage-related second quarter results at Wells Fargo, JPMorgan Chase, Citigroup and PNC Financial Services Group, but First Republic Bank bucked the trend.

Strong demand for business and multifamily loans, combined with double-digit growth in wealth management revenues, more than offset rising expenses.

Mortgage fees at the nation’s biggest home lender declined by a third in the three months ended June 30 to the lowest in more than five years.

The collateral includes both QM and non-QM loans; however, certain loans are designated as QM even though the borrower’s DTI may be above 43%, due to a temporary exemption for GSE-eligible loans.

Fannie Mae and Freddie Mac may need to tap into U.S. Treasury funds when they adopt CECL, a new accounting rule that makes companies set aside money upfront for expected loan losses.

Greater consumer access to credit could help mortgage bankers replenish originations eroded by higher rates, but they are reluctant to depart from the status quo to provide it.