Mortgages

On Monday Impac’s share price jumped 15% on heavy volume—without explanation—prompting the New York Stock Exchange to send it a notice about unusual activity.

The Financial Institution Reform Recovery and Enforcement Act contains a whistleblower provision that is creating greater levels of concern amongst banks.

Although Basel III rules and pending mortgage regulations are not directly related, they are interconnected.

Fifth Third Bank is combining mobile technology and a browser-based loan officer portal to build its mortgage business and better communicate with borrowers.

Review your advertising in all media, including social media now, or you could receive this letter.

Redwood Trust has closed on a $291 million securitization of mezzanine loans and other subordinate commercial real estate debt.

The average weekly rates for 30- and 15-year fixed-rate mortgages each inched up by one basis point from their record lows.

About 700,000 homeowners refinanced their mortgages through the government’s Home Affordable Refinancing Program in the first nine months of this year.

The president of the Mortgage Bankers Association said the industry is asking Congress to reconsider the approach of using guarantee fees for anything other than their intended purpose.

REO has long been the red-headed stepchild of the housing industry, the one nobody pays any attention to and just wants it taken care of quickly and swiftly.

Prospective homebuyers who are looking to buy foreclosed properties for an inexpensive value are not obtaining the same discounts as previously accustomed to.

A few weeks back Prospect Mortgage hired industry veteran Amy Brandt to lead the company’s expansion into correspondent lending and servicing.

The American Bankers Association has selected Security One Lending to provide its members with access to reverse mortgage products.

Zurich is the anchor member in a consortium of insurers that Fannie Mae has lined up to write policies on its portfolio at 30% to 40% discounts to existing premiums.

Congress may decide to cap the mortgage interest deduction on residential debt at just $500,000.

Fannie Mae and Freddie Mac seller/servicers which have already been hit with two recent guarantee-fee increases should expect even more, according to the Federal Housing Finance Agency.

The nation’s top five servicers had a combined servicing market share of 55.6% at Sept. 30, a stunning loss of eight points in share over the past 12 months.

Platinum Home Mortgage will buy traditional conforming and government loans, and has hired Mike Azzarello as senior vice president and managing director to head the unit.

New-home sales fell to a 368,000 seasonally adjusted annualized rate in October, down 0.3% from September.

By only stalling the foreclosure process longer than it should be, homeowners who fall prey to pretender defenders are losing large sums of money.