Mortgages

The Dow Jones Industrial Average flirted with 14,000 on Tuesday as investor confidence returned to the market and that investor confidence helped to buoy the housing-related stocks.

The overall volume of resolved securitized commercial mortgage loans dropped slightly in January, resulting in higher loss severity rates and loan losses at greater than 2%.

The 30-year fixed mortgage rate is now currently 3.44%, which is up two basis points from the same time last week.

CIVC Partners completed the acquisition of Shelter Mortgage from its parent company, Guaranty Bank.

Felony charges were filed against Gilbert Chung who pleaded guilty for conspiring to rig bids and commit mail fraud at public real estate foreclosure auctions.

Nationstar Mortgage Holdings has priced $400 million of debt at an interest rate of 6.5%.

Stonegate Mortgage has entered into a participation agreement with the Bank of Virginia and has others in the works.

Carrington Mortgage Services said it will process any qualifying loan from the time that a file is submitted to underwriting to the time that it funds within 25 calendar days.

Lenders will have to wait for the courts to resolve the validity of Richard Cordray’s recess appointment to be the first Consumer Financial Protection Bureau director.

If and when they are done right, downpayment assistance programs work, according to Wells Fargo.

Ally Financial said its mortgage operations provided pretax income of $100 million in the fourth quarter.

Many clamored for the authorization of electronic signatures for the 4506-T as it completes the set of key predisclosures in the origination process that can be e-signed.

To entice more Home Affordable Refinance Program refinancings, lenders may contribute up to $2,000 toward the borrower’s closing costs or other fees by reducing the loan amount.

Freddie Mac has further expanded the number of its Borrower Help Centers by opening three new branches in Atlanta, Las Vegas and Los Angeles.

The provision tucked into the qualified mortgage rules released in January would impose a 3% cap on points and fees that bank affiliates can charge consumers for home inspections, closing costs and a range of other mortgage-related services.

Despite the typically slow winter months, the housing market continued to see progress in home values through January.

House prices rose 8.3% in 2012 after falling for the past six years, including a 4.7% drop in 2011.

Approximately 8% of the outstanding balance of commercial and multifamily mortgages held by nonbank lenders and investors will mature in 2013.

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Freddie Mac’s fourth-quarter refinance data show refinancing borrowers were able to take advantage of the deepest rate cuts available in quite some time during the period.