Secondary

The former MetLife Home Loans branch in Omaha, Neb., has become part of Gateway Mortgage Group, Tulsa, Okla.

Silvergate Bank said its warehouse lending division funded 1,570 loans totaling $419 million in the first quarter.

What does the future hold for the GSEs? Combined agencies? A GSE for nonconforming?

Residential lenders will continue to enjoy high gain-on-sale margins during the remainder of the second quarter, but those profits will be down compared to 1Q—which was exceptional—according to new research from Credit Suisse.

Impac Mortgage Holdings recorded a “significant” year-over-year expansion of its mortgage lending in the first quarter, but other costs largely stemming from legacy issues produced a consolidated net loss of $4.8 million during the period.

The other day a mortgage recruiter made a blunt statement to us: “Wholesale lending is really hot right now.” Of course, given what’s happened to the mortgage business the past few years and all the blame being placed on brokers for crappy loan quality, such a statement might be taken with a grain of salt.

A 13% increase in refinance applications led to a 9.2% seasonally adjusted increase in overall application volume for the week ended May 11, according to the Mortgage Bankers Association.

When Residential Capital Corp. filed for bankruptcy protection earlier this week it left behind a trail of unsecured creditors with claims totaling well over $1 billion, according to court documents.

The Federal Housing Administration—which holds title to 700,000 seriously delinquent mortgages—plans to ramp up its single-family nonperforming loan sale efforts, according to housing commissioner Carol Galante.

A pair of analysts at the Mortgage Bankers Association Secondary Market Conference said they don't believe there will be a private-label mortgage-backed securities product anytime soon.