Originations

Mortgage REIT Dynex Capital Inc. has entered into a memorandum of understanding reflecting an agreement in principle to settle all claims in a class action lawsuit and separately said it expects to exercise a refinancing option on collateralized financings.

In dealing with mortgage issues, the Consumer Financial Protection Bureau wants to ensure that customers have access to home loans—and that residential lenders have access to the secondary market.

For the second time in the summer of 2011, the investment firm First Market Properties has purchased the mortgage on a distressed multifamily asset in Phoenix.

The amount of home equity owned by American seniors fell by $63 billion between the first and second quarters, the National Reverse Mortgage Lenders Association/RiskSpan Reverse Mortgage Market Index found.

The aggregate value of CMBS commercial real estate loan collateral priced by DebtX in August rose to 85.9% from 85.3% the previous month, according to a Wednesday morning report from the company.

The parent company of structured settlement purchaser J.G. Wentworth, has expanded its pilot program in the reverse mortgage business into a full-fledged operation.

Retired Rear Admiral Thomas C. Lynch has been named to the board of Chrysalis Holdings, the parent company of NewDay Financial Inc., which originates reverse mortgages among other products.

Record low interest rates are not bringing borrowers to the table as the level of loan applications decreased 4.3% on a seasonally adjusted basis for the week ended Sept. 30 according to the Mortgage Bankers Association.

Consumer lending experts urged a Senate panel on Tuesday to confirm a director of the Consumer Financial Protection Bureau this week.

The House voted 352-66 Tuesday afternoon to pass a continuing resolution that will fund government operations, including the National Flood Insurance Program, through November 18.

The reduction in the Fannie Mae/Freddie Mac loan limit could trim home sales by up to 5%, further delaying a recovery in the housing market, according to industry officials speaking at a Progressive Policy Institute conference Tuesday.

Christmas has come a little early this year for warehouse lenders, thanks to Bank of America's planned exit from correspondent lending.

PHH Mortgage Corp., will be losing one of its largest private-label origination customers in Charles Schwab Bank, but will be adding five new clients for which it said this new business should more than offset any lost income.

Southwest Bank, Fort Worth, Texas, is on the verge of making its first warehouse line of credit and is catering to a small but growing segment of the market that it calls "mini-correspondents."

It may be a favorable time to review market demand for underutilized rural area financing options such as the USDA program.

If there is any one thing the author of a blog post or the speaker at a live presentation wants is that the audience should remember what the post or the speech was about. The lack of success in this area means a lack of connection with the intended target as well as frustration on the part of the author.

The correspondent lending division of Wells Fargo is serving as the pilot user for new customized investor guideline functions in origination technology vendor Ellie Mae's Total Quality Loan service.

Technology Credit Union, San Jose, Calif., has applied to the National Credit Union Administration to convert to a mutual savings bank, which, at $1.5 billion, would be the biggest credit union conversion to bank yet.

TMS Funding, Milford, Conn., has added a 30-year fixed rate loan to its stable of jumbo products, and announced plans to crank up its hiring of wholesale account executives.

After several weeks of negotiations, Bank of America and Fortress Investments have ended talks over the bank selling its correspondent mortgage division to the publicly traded investment fund, officials close to the deal told National Mortgage News late Monday.