Secondary

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.

The increase in the delinquency rate for securitized CRE loans for March ended an eight-month streak of declines.

A pair of the nation's largest banks, Citigroup and Wells Fargo, made changes to their mortgage banking executive teams.