Mortgages

PennyMac Mortgage Investment Trust had net income of $54.5 million for the second quarter, up from $29.6 million one year prior.

Several Northeastern states now have a higher percentage of loans in foreclosure than California and Arizona.

Industry experts expect annual home value appreciation rates to end 2013 on a strong note before slowing down considerably over the following three years.

The averages for the week ending Aug. 8 show fixed mortgage rates were relatively unchanged following a mixed employment report for July.

Fannie Mae is reducing its loan loss reserves and reporting strong profits but it has no intention of relaxing its underwriting standards to increase purchase mortgage volume.

The company is under investigation for practices tied to sales of mortgage-backed bonds that the Justice Department has already concluded broke civil laws.

Pacific Investment Management Co. and BlackRock are among bond investors seeking a court order blocking Richmond, Calif., and Mortgage Resolution Partners from seizing mortgages through eminent domain.

MetLife said it may face fines amid a government review of foreclosures at its bank unit.

Fannie Mae and Freddie Mac, which policymakers are trying to unwind, have operated with explicit affordable housing goals for more than 20 years.

Jumbo lender Redwood Trust has completed the approval process to a Fannie Mae and Freddie Mac seller/servicer.

Wells Fargo is laying off 763 employees in its Home Mortgage division.

The loan reviews will make sure lenders adhere to FHA origination practices and ensure the Federal Housing Administration is compensated for “defects in the lender manufacturing process.”

Goldman Sachs, Jefferies and Citigroup have lined up a $1.2 billion conduit CMBS deal that is backed by 84 commercial mortgage loans secured by 132 properties.

A LendingTree.com survey finds obstacles can impede casual searchers from becoming serious buyers.

Saiyid Naqvi, recently retired as chief executive of PNC Mortgage, has become the newest member of the board of directors of Freddie Mac.

A $402 million Fannie Mae mortgage servicing loan portfolio is up for sale with Prestwick Mortgage Group acting as the exclusive broker.

Don Brinker, homeownership manager for MHDC, said USA Mortgage was rated “highest in volume and best in ongoing thoroughness and quality of submissions.”

All but two Mortgage Industry Equity Composite members closed lower on the day.

We're hearing a lot of feedback from readers of last week’s column.

As opinionated as ever, the Mortgage Grapevine has several posters giving their opinions of the president’s remarks.