Mortgages

A trial has resulted in a Las Vegas mortgage agent being convicted for his role in a mortgage scheme that resulted in $1.43 million in fraudulent loans.

A new online wholesale trading platform was launched by SecondaryWire designed to accommodate the sale of brokers’ and correspondents’ loans to investors.

The Consumer Financial Protection Bureau said its consumer complaint system is now taking debt collection complaints related to any consumer debt.

In the preliminary stages, lenders may not yet know what they need, much less want.

Centerline Capital Group has completed a $4.7 million cash-out refinancing transaction on two multifamily properties in Chicago.

Greystone has provided Hawthorn Ridge Apartments in Woodridge, Ill., with an $8.5 million FHA loan.

JPMorgan Chase’s mortgage originations during the second quarter rose 12% year-to-year to $49 billion.

A study from the Federal Reserve Bank of Cleveland says the claim that Americans whose homes were underwater were unable to relocate for job purposes was a myth.

Bank of America said former workers who alleged the firm awarded bonuses for sending homeowners into foreclosure misrepresented their roles and made “impossible” claims about the lender’s assistance program.

Delinquent CMBS loans declined 19 basis points in June to 7.18% from 7.37% a month earlier.

The mortgage banking business added $2.8 billion to Wells Fargo’s noninterest income in the second quarter.

Mortgage Investors Corp., St. Petersburg, Fla, received the largest fine in Federal Trade Commission history for Do Not Call list violations.

Compared to the first recovery years, full-service hotel prices are increasing at roughly the same pace as apartment prices.

Both the largest loan and another loan have split loan structures where the property also supports a pari passu companion loan.

After a one day pause, the stock market resumed its climb, and 13 of 17 Mortgage Industry Equity Composite members joined in.

The chairman of the House Financial Services Committee wants private investors to share in some of the credit risk on Fannie Mae, Freddie Mac and Federal Housing Administration loans.

Senate Banking Committee chairman Tim Johnson and Sen. Mike Crapo have reached an agreement on a measure to shore up the Federal Housing Administration.

Through MPF Xtra, loans are aggregated and sold to Fannie Mae.

Applications for financing on new home purchases in June were down 15% from the previous month.

A poster on the Mortgage Grapevine is looking for a $150,000 second-lien loan on a property valued at $2.5 million and a first lien of $1.3 million.