Secondary

By now, thousands of readers have viewed our coverage (both in print and online) of eWarehouseOne, the mysterious warehouse lender that appears to have collected at least $250,000 in application and good faith checks, and doesn’t have a whole lot of lines of credit to show for it. After two months of investigating the company and talking to roughly 20 sources, we’ve come to the conclusion that the man running the show is Tom Reynolds, once listed as EVP in charge of warehouse lending. The problem is this: none of the account executives hired by the company (some of whom have left) have ever met Reynolds, though they’ve spoken to him on the phone.

The Federal Housing Finance Agency lifted an eight-year-old cease-and-desist order against the Federal Home Loan Bank of Chicago, which pioneered the Mortgage Partnership Program back in the 1990s.

Housing industry groups are pressing the Consumer Financial Protection Bureau to craft a qualified mortgage rule that shields lenders from meritless litigation and ensures access to affordable and sustainable mortgages.

Multifamily prices are getting closer to their pre-recession peak, but limited supply and favorable demographics could mean they keep climbing for some time.

ViewPoint Financial Group said its interest income increased by $1.5 million to $29.4 million in the first quarter on a year-over-year basis due to higher balances for its warehouse purchase program and commercial real estate loans.

It’s no secret that the mortgage industry – after hearing from its customers – is clamoring for a HARP 3.0 refi solution for underwater loans that are not guaranteed by Fannie Mae and Freddie Mac. But how do we get there?

A representative for eWarehouseOne is trying to place roughly $70 million of applications with at least two other banks.

Ally Financial’s nonbank warehouse lending customers are searching for back-up lines of credit, fearing the government-owned lender may soon cut back.

The Federal Open Market Committee said Wednesday that the central bank will maintain its reinvestments of principal payments from agency mortgage-backed securities and debt holdings into new agency MBS.

The judge’s decision in a hearing the New York State Supreme Court held Tuesday afternoon on the $8.5 billion Countrywide Financial Corp. settlement appears to have kept the proceedings shorter than they otherwise might have been.