Consumer lending

MountainView Servicing Group said Friday that it is the exclusive advisor for the sale of a bulk mortgage servicing rights portfolio with Fannie Mae, Freddie Mac and Ginnie Mae loans.

Forecasters expect stronger originations in the second quarter as home buying outpaces refinancings.

PHH Corp. reported a first-quarter loss of $30 million, which included a $10 million pretax adjustment to the value of its mortgage servicing rights.

New rules have made it more challenging to originate mortgages without drawing attention from regulators. Mercantile Bank in Michigan, however, believes that positive trends in its biggest markets are incentive enough to hire lenders and improve its systems.

Walter Investment Management Corp. sank into a deeper $172.7 million net loss during the first quarter, as lower interest rates caused pressure on the company's mortgage servicing rights valuation.

Commercial and multifamily mortgage loan originations barely budged overall during the first quarter when compared to the same period last year, according to the Mortgage Bankers Association.

Federal Savings Bank in Chicago has acquired the assets of ICC Mortgage Services in Westbury, N.Y.

Flagstar Bancorp reported an increase in net income during the first quarter, mainly on higher interest income and a larger release of loan loss reserves.

Borrowers continue to get smarter about the mortgage process, but from questions about closing costs to the minimum down payment and credit score needed to qualify, there's still a lot that can keep consumers confused during the origination process, or worse, on the sidelines of the market entirely.

Alterra Home Loans more than doubled its mortgage volume but saw its revenue decline. After some post-adoption hiccups, the company is making more money than ever. Other lenders have similar stories.