Originations

Carrington Mortgage Services has been expanding its retail mortgage lending capacity for the past 12 months and now it is about to jump into the wholesale space.

Fannie Mae on Friday suspended Republic Mortgage Insurance Co. as an approved MI to the GSE and took the added step of suspending a subsidiary that RMIC planned to write all new business through come September 1.

The nation's mortgage insurance firms wrote $4.8 billion of primary new business in June, the sector's best month of the year, excluding January, according to new figures compiled by an industry trade group.

PHH Corp., the nation's fifth largest residential funder, lost $41 million in the second quarter as the fair value of its mortgage servicing rights declined by $117 million during the period.

The U.S. homeownership rate fell by less than half-a-point in the second quarter to 65.9% as foreclosures accelerated and consumers put off buying homes because of fears about prices and the economy.

The job requires precision, quality control and conformance to specifications. An employee is consistently producing a defective product. The cause must be poor skill or aptitude. Maybe not. It may be sleepiness or mental fatigue.

Title insurers First American Financial and Stewart Information Services late this week posted second quarter earnings above market expectations, mostly on reduced costs.

The average price of existing homes in the Houston area reached a record $228,650 in June, according to the local real estate group, as the number of transactions increased for the first time since January.

Genworth Financial, which controls the nation’s fifth largest mortgage insurance firm, reported a net loss of $96 million in the second quarter, citing continued problems in the MI space.

Goldman Sachs & Co. and Citigroup Global Markets Inc. Thursday withdrew a CMBS transaction from the market, alleging an inability to get final ratings for it from a company that had promised them.

Although the U.S. government runs the risk of defaulting on its debt obligations for the first time in history, mortgage rates – for the most part – have not moved much the past week or so.

Old Republic International Corp., Chicago, warned Thursday that without an agreement from its regulator and the secondary market, that it could stop writing new mortgage insurance business at the end of August, and put the unit into run-off.

Chief executives from the country's largest banks sent a letter to the White House and Congress Thursday urging them to reach an agreement this week to raise the debt ceiling.

A Texas investment firm has launched a new fund to invest in subordinated debt and take mezzanine stakes in what it calls "carefully selected" mortgage banking firms.

An index that gives insight into future home sales rose 2.4% in June after jumping 8.2% in May, a sign that not all consumers are spooked by the housing market.

I’ve just finished my third (yes, No. 3) midlife crisis! I spent 30 days in Europe last month—10 days in Italy and 20 days in Greece! It has always been a dream of mine to not to be just another typical tourist—I wanted to spend three or four days in one location, getting to know each city, its people, how they lived and worked from day to day.

BB&T's warehouse lending commitments rose 28% in the second quarter to $1.76 billion as the bank increased its nonbank customer base to 160 institutions.

The Federal Housing Finance Agency on Wednesday filed suit against UBS Americas for misrepresenting the quality of private label, non prime MBS it sold to Fannie Mae and Freddie Mac during the housing and mortgage boom.

The chief executive of Flagstar Bancorp, Troy, Mich., told a conference call that he was encouraged by the steady results the company is seeing as it moves from a mortgage banking model to a commercial banking one and works to reverse a loss it took in the second quarter due to legacy concerns.

Cognizant has acquired CoreLogic’s Global Services Private Ltd., the India-based captive operations of CoreLogic, in a move that transfers some operations used for U.S. mortgage industry outsourcing to the former company.