Secondary

HELOCs make up just 2.9% of the $281 million pool of collateral; 81.8% of the HELOC borrowers are currently ineligible to make draws; another 18.2% are permanently frozen.

First-quarter mortgage banking results at Wells Fargo and JPMorgan Chase were weaker than Keefe, Bruyette & Woods forecast due to lower-than-expected gain-on-sale margins.

The firm warned Friday that it may take a charge of as much as $1 billion to settle a U.S. probe of its consumer business.

The Chicago company said its decision was largely based on intense competition, very low margins and economic changes.

Cloudvirga, in collaboration with Freddie Mac, has created the capability for loan officers to submit mortgage loan data to both government-sponsored enterprises' automated underwriting systems simultaneously with a single click.

Investors are growing worried about lackluster loan growth this year at community banks.

Situs subsidiary MountainView Financial Solutions is brokering a $6.1 billion package of government-sponsored enterprise and Ginnie Mae servicing rights.

The future secondary mortgage market entities will receive high investment grade ratings, even as there is no clarity on their scope or form, Fitch Ratings said.

The reserve bank's proposal to address banks and nonbanks that remain "too big to fail" does not include two of the largest such institutions: Fannie Mae and Freddie Mac.

Mortgage credit availability tightened during March to its lowest level in over a year, adding another headwind to a market challenged by rising interest rates and a shortage of homes for sale.