Originations

MVB Bank has agreed to purchase Potomac Mortgage Group for $19 million in cash and stock.

Freddie Mac has announced its last new offering of multifamily structured pass through “K” certificates for the year, a $1.1 billion deal set to price this week.

Don't be fooled. The QRM rule is not dead, though it is hibernating.

However, the American Bankers Association, Consumer Mortgage Coalition, Independent Community Bankers of America, Mortgage Bankers Association and the Housing Policy Council of the Financial Services Roundtable have “several concerns” about Phase 2 of the MBS proposal.

Though 81% of consumers expressed satisfaction with banks on the mortgage process, 56% blame slow execution as among the most irksome aspects of the process.

The new Redwood Trust notes offer investors a yield of 5.6% and mature in six years.

A significant number of consumers said they would consider getting their next loan from a nontraditional source.

Late last week Credit Suisse came to market with a $330 million jumbo deal, which contains a wrinkle on representation and warranty clauses.

Mortgage fraud is still existent during the “quiet period” between when an original credit file is pulled and the closing of a loan.

More jumbo MBS deals may be on the way.

Kevin Coop has joined ServiceLink as executive vice president of enterprise strategy.

Originations volume for the third quarter came to $486 billion, a hot quarter indeed.

If residential lenders didn’t have enough to worry about they now have the “fiscal cliff” and the mortgage interest deduction to lose sleep over.

Fannie Mae reported forward commitments—a barometer of future activity—of $96.7 billion, the highest reading in over three years.

The biggest gainer among the top five was Quicken, a privately held nonbank controlled by businessman Dan Gilbert.

Prospect Mortgage has been hiring some heavy hitters of late, causing tongues to wag.

Any attempt to rush or push clients into signing adds duress to your closing techniques.

The residential finance industry is facing implementation of a whole new regulatory regime.

Pentagon Federal Credit Union said its PenFed Realty unit has agreed to acquire Prudential Dinning-Beard Realtors.

Umpqua Bank added a homebuilder finance group to its commercial real estate lending division.