Secondary

American Mortgage Consultants has acquired the right to hire 50 employees from The Barrent Group and will add 150 more in response to increased private-label securitization.

The announcement comes as Fannie Mae promoted David Benson to serve as president of the government-sponsored enterprise.

The Federal Housing Finance Agency is suspending its ongoing review of new credit scoring models and will instead move forward with creating a regulatory framework for providers of alternative credit scores to apply and be evaluated for use by Fannie Mae and Freddie Mac.

The fees that Fannie Mae and Freddie Mac charge for low down payment mortgages disproportionately reflect their risk exposure and make homeownership more difficult for underserved borrowers.

Angel Oak Companies' affiliates increased their production of loans made outside the boundaries of the Qualified Mortgage definition by 90% year-over-year during the second quarter, when most lenders' volume fell.

Servicers and MSR investors face increased regulation and oversight as nearly all states now require some form of licensing for firms responsible for mortgage collections.

The Internal Revenue Service's settlement with Radian Group may result in a $74 million tax benefit for the mortgage insurer that could improve its second-quarter results.

Oaktown Re II is National Mortgage Insurance's first rated transaction, according to Morningstar; it reinsures $5.47 billion of policies on mortgages with a total balance of $30.12 billion.

Mortgage banking revenue stemming from a year-to-year increase in rates weighed down noninterest income at U.S. Bancorp, but increased interest income from higher rates helped improve earnings overall.

Continued favorable loss development trends allowed MGIC Investment Corp. to beat analyst estimates for the second-quarter earnings report.