Originations

A new mortgage insurance firm started by former executives from The PMI Group hopes to begin writing policies early next year, according to officials close to the company.

In making lenders responsible for servicers’ compliance controls, the Consumer Financial Protection Bureau further expands lenders' responsibility for borrowers.

The president of the California Association of Mortgage Professionals is warning that the eminent domain proposal being considered by San Bernardino County and the cities of Ventura and Ontario could curtail new mortgage lending in those municipalities.

Average rates for 30- and 15-year fixed rate mortgages rose a bit in Freddie Mac’s latest weekly survey, and a significant rise in a key long-term rate indicative bond yield Thursday morning suggests they could continue to increase.

With less than two months before the annual Mortgage Technology Awards ceremony, the judges’ panel is pleased to announce the finalists for this year’s awards.

One in every 686 housing units nationwide either had a default notice, scheduled auction or bank repossession on their property in July.

How long will Fannie Mae and Freddie Mac stay this profitable? Answer: as long as their cost of funds (courtesy of Uncle Sam) stays at next to nothing, and the yield on their interest earning assets remains healthy.

DocMagic and Ellie Mae have yet to settle their legal dispute and the presiding judge granted an extension to his deadline for the companies to come to terms.

After reaching its lowest mark in almost three years in the first three months of 2012, Interthinx’s national mortgage fraud risk index trended up again in the second quarter.

The Federal Housing Finance Agency threatened Wednesday that it would take action against municipalities that attempt to use eminent domain to refinance underwater mortgages.

Rep. Scott Garrett (R-NJ), Chairman of the Financial Services Subcommittee on Capital Markets and Government-Sponsored Enterprises, will be the keynote speaker at National Mortgage News’ 2nd annual Mortgage Regulatory Forum on Thursday, Sept. 13 in Arlington, Va.

Redwood Trust, the most active player in the jumbo securitization market, wants to buy already funded Fannie Mae/Freddie Mac loans from mortgage bankers and service the product through a subservicing firm called Cenlar.

Under pressure from industry groups, federal banking regulators have extended the comment period on Basel III risk-based capital proposals by six weeks to Oct. 22.

Reverse mortgage lenders in Massachusetts have gained a two-year reprieve from enforcement of the state’s face-to-face counseling requirements scheduled to go into effect on Aug. 1.

Fannie Mae is pressing its seller/servicers to repurchase $14.5 billion of bad mortgages but only a small portion of those buyback requests involve loans originated after 2008.

The Federal Housing Finance Agency on Wednesday slammed plans by some local governments to use eminent domain to refinance underwater mortgages.

Silvergate Bank said it has gotten the approval necessary to become a Home Equity Conversion Mortgage issuer from Ginnie Mae.

Will other correspondent buyers of residential loans follow in the wake of PHH Mortgage and exit the third-party channel?

Freddie's strong operational performance is sustainable, and it is a reminder that the government-sponsored enterprises could serve as a cash cow for private investors.

Residential mortgage applications fell almost 2% for the week ending August 3, according to new figures compiled by the Mortgage Bankers Association. The comparison is to the week prior.