Secondary

The Government National Mortgage Association earned $610 million for the year ending Sept. 30, compared to $1.18 trillion in fiscal year 2011.

“We cannot continually buy more securities and create more bank reserves without jeopardizing our inflation goal,” said Federal Reserve Bank president Jeffrey Lacker.

Fannie Mae and Freddie Mac are now cash cows. But where will that money ultimately wind up?

There is not a set time frame for the specified pool data to go live, but it has been approved and will be moving forward.

The American Bankers Association has lined up Stonegate Mortgage Corp. to serve as a secondary market investor for its mortgage cooperative, Community Bank Mortgage.

Recriminations about what caused the greatest mortgage meltdown in U.S. history continue to play out in various ways.

Interthinx has expanded its suite with a new MERS compliance audit service.

Almost $700 billion of mortgage servicing rights are in some stage of auction or sale.

Lenders on the deal include First Republic, Fremont, Prime Lending, Flagstar, WL Bradley and Cornerstone Mortgage.

Wingspan Portfolio Advisors, a once-fast-growing specialty servicer that does business with the GSEs and other clients, is laying off almost 460 workers, according to a notice it filed with the Texas Workforce Commission.