Secondary

Congressional action to reform housing finance is ultimately needed, but we must confront the risk of continued drift and inaction if Congress is unable to act.

From a few employees at Hutchinson Credit Union who spent part of their day focusing on better servicing of local home mortgages, Member Mortgage Services has grown in just 13 years into a separate company with 37 employees.

Growth outside of its residential mortgage business contributed to Flagstar Bank beating first-quarter earnings estimates, company executives said.

The West Virginia company sold the mortgages to Residential Funding and ResCap Liquidating Trust between 2003 and 2007.

Fannie Mae has made three selling guide changes aimed at helping the growing number of borrowers with student debt qualify for home loans, and may begin testing similar proposals related to this goal.

Caliber Home Loans' next nonprime mortgage securitization is nearly twice as large as its previous deal, completed in December.

Incenter Mortgage Advisors is brokering an $898 million alt-A bulk servicing rights portfolio for an undisclosed bank.

Strong gains in low-cost health savings account balances helped fuel loan growth at the Waterbury, Conn., company.

The Atlanta company's profits rose on stronger net interest income and investment banking income as well as a tax maneuver.

The Wisconsin regional's profits rose 35% in the first quarter on healthy loan growth, wider margins and an improved efficiency ratio, and it said its "satisfactory" CRA rating had been restored.