Mortgages

An originator is turning to the Mortgage Grapevine to look for a lender who is willing to fund a property which will be owner-occupied that the buyer is acquiring from HUD.

An executive with Residential Finance Corp. has confirmed that the company has closed an operations center in Charlotte.

Cortland said it will incur less than $400,000 in costs associated with closing down its wholesale mortgage operations.

USA Mortgage/DAS Acquisition finds purchases are filling in the gap as rates have risen and refinances have dwindled in lines with national trends.

Private-equity firms and hedge funds are increasing their control of the rights to collect America’s monthly mortgage payments, an almost $10 trillion market that banks are retreating from amid looming regulations.

Freddie Mac is extending mortgage relief policies to Colorado homeowners whose properties were damaged or destroyed due to the recent flooding in the area.

The operators of a national online foreclosure rescue scam that deceived hundreds of distressed homeowners into surrendering their properties to the company have been sentenced.

Essent Group Ltd. has filed an S-1 registration statement with the Securities and Exchange Commission to do an initial public offering.

Even though builder confidence is currently at an eight-year peak with a mark of 58, there is some hesitancy from buyers due to the recent increases in interest rates.

The Consumer Financial Protection Bureau has ruled that seller points can be excluded from the 3% points and fees test in the qualified mortgage rule.

The latest Redfin Real-Time Homebuyer Survey found that rising interest rates are as much a concern for those looking to purchase a house as the lack of inventory is and it could keep them from going forward.

The Consumer Financial Protection Bureau has removed some obstacles to community banks offering balloon mortgages in rural areas, but the exemption in the qualified mortgage rule should be expanded further.

The scheme allegedly has victimized more than a thousand homeowners, who have paid in excess of $3.4 million.

The new president of the California Association of Mortgage Professionals also is planning a marketing and image campaign for the industry.

The overall market, as well as investors in mortgage-related stocks, were pleased with the news that Lawrence Summers will not replace Ben Bernanke.

The spread between the one-month certificate of deposit interest rate and the 30-year fixed-rate mortgage is around 4.4% right now, about 55% higher than the 40-year historical average of 2.83%.

AmeriSave said it is eliminating published conventional overlays, citing strong performance in the loans that have been delivered to its wholesale division.

Genworth U.S. Mortgage Insurance is reducing its overlays and rates on loans that lenders deliver through Fannie Mae and Freddie Mac's automated underwriting systems.

A potential borrower is looking for a loan for a non-owner-occupied residential property.

We're hearing that a rising tide of new construction doesn’t have lenders worrying about a bubble in apartment building values...yet.