Mortgages

Hovnanian Enterprises reported a wider loss for its fiscal first quarter as inclement weather extended construction times and sales demand slowed.

While the budget was once again focused on other issues than financial services, it provided an update on the White House's priorities as well as a prediction that the FHA's fortunes will soon improve.

What does it mean to be a borrower returning to the market from job loss, credit challenges, foreclosure and/or bankruptcy.

Improving housing markets continued to push down the overall delinquency rate of commercial and multifamily mortgages in the fourth quarter of 2013, according to the Mortgage Bankers Association.

President Obama's fiscal-year 2015 budget projects the Federal Housing Administration won't require a taxpayer subsidy this year as the agency's efforts to shore up its finances have offset losses from defaulted loans.

A drop in foreclosures has been a constant occurrence throughout the country as the market slowly recovers from one of the worst housing crises ever.

PNC also disclosed more details about three subpoenas it received from the U.S. attorney's office in Manhattan related to National City Bank, the Cleveland-based subprime home lender PNC purchased in 2008.

There are five reasons why mortgage originators should be welcoming this change.

The acquisition is the latest in a series of diversification steps by Carrington which started as an investor in mortgage-backed securities and over the years branched into servicing and originating loans.

Rules enacted last year appear to be steadily forcing banks to exit the mortgage servicing business, transferring such rights to nonbanks. The situation is stoking fears on Capitol Hill and elsewhere that regulators went too far.

The transaction boosts InterLinc's origination operations in Alabama.

The GSEs reported big profits for 2013 but even the companies' executives question the sustainability of those earnings.

Wipro Gallagher Solutions announced its NetOxygen loan origination system has added an integration with mortgage technology developer Optimal Blue's product and pricing engine.

A technical reading of the rule supports excluding charges by a broker's title affiliate from the 3% fee cap. But without a specific interpretation from the CFPB, it would be unwise to risk a loan's QM status.

The demolitions in this Michigan city of about 100,000 people are part of the stepped up efforts by officials in several Midwestern states to rid their blighted neighborhoods of decayed housing that's depressing prices.

Two of the three major nonbank servicers are sticking by plans to acquire portfolios from banks this year, in spite of regulatory scrutiny and concern they are growing too fast.

Big data will hit its stride when tailored to vertical markets and their specific needs. Mortgage Servicing is an excellent example.

Brian Scott Cohen of Wells Fargo's Brooklyn, N.Y. office is now the provisional leader in Origination News' 2013 Top 200 loan officer survey.

Woodward Asset Capital has started a real estate brokerage brand catering specifically to property sellers, including banks and mortgage servicers unloading foreclosed homes.

Prospect Mortgage's victory in a court case brought by a loan officer who sued for minimum wage and overtime has been the talk of the industry. Following are comments posted by readers on NationalMortgageNews.com showing the wide range of interpretations of the case.Many loan officers view themselves as independent contractors. Others think W-2 tax classifications by employers are at odds with that view.