Secondary

WASHINGTON — Dean Schultz, the long-time head of the Federal Home Loan Bank of San Francisco, is planning to retire next spring once his successor has been appointed, the bank said Friday.

The September volume of new home purchase mortgage applications remained unchanged from the previous month.

Officials want to remove the risk that questions about a dealer’s liquidity could lead to wholesale dumping of assets. Treasuries and mortgage securities represent about 85% of daily repo transactions

Fannie Mae and Freddie Mac will sell large amounts of their credit risk in the U.S. residential mortgage sector.

Independent originators could be shut out from offering this product as there is no secondary market.

United Housing Services America has released the latest version of its mortgage pre-funding and post-closing quality control software.

B of A mortgage strategists are concerned these underserved borrowers will keep housing market activity at "anemic levels."

MountainView Management Co. plans to buy nonprime mortgages made to borrowers with credit scores in the mid to low-600s, maximum 80% loan-to-value ratios and balances as high as $2.5 million.

Federal Home Loans Banks officials and others want more time to evaluate and comment on a Federal Housing Finance Agency proposal to restrict FHLB membership.

Recent regulatory settlements have made it abundantly clear that medical records are off-limits to lenders trying to verify the incomes of mortgage applicants on long-term disability.