Mortgages

Bankers are mounting their support for national efforts to build up a much-needed financial literacy foundation.

A trio of vendors that play in the nonperforming loan space have formed a cooperative to unload NPLs to Realtors seven days before they are offered to the public.

Fannie Mae’s first multifamily delegated underwriting and servicing real estate mortgage investment conduit deal backed by floating rate collateral attracted banks as well as other buyers.

NewDay USA, a nationwide reverse mortgage lender, has named former Government National Mortgage Association president Joseph Murin as its new president and chairman.

Some mortgage bankers that have perfected HARP refinancings are starting to hunt for servicing portfolios that are rich with program eligible loans.

Integra Group Real Estate expanded its property management services to now provide inspections for vacant rental and real estate-owned properties.

As the Mortgage Bankers Association’s annual conference in Chicago gets closer, I’m remembering what a great mortgage party town the Windy City has been over the years.

Are businessmen of all different stripes, including lenders, holding back on hiring?

Correspondent banking remains a tricky and risky business, but a growing number of bankers believe it can be lucrative.

Uncertainty surrounding the economy, the election and other concerns are keeping some potential borrowers on the sidelines, including homebuyers.

The Consumer Financial Protection Bureau is focusing strong attention on large bank and nonbank residential servicers.

Fannie Mae and Freddie Mac Tuesday morning unveiled new representation and warranty policies that relieve seller/servicers of any repurchase risk if the borrowers make 36 months of consecutive on-time payments.

Fannie Mae and Freddie Mac—under the auspices of FHFA—are issuing to their seller/servicers relief from onerous representation and warranty clauses on loans they purchase with particular emphasis on mortgages that are current for at least 36 months.

Senate Democrats are trying to revive a mortgage refinancing bill—for Fannie Mae and Freddie Mac borrowers—by reintroducing a slimmed-down version of the measure.

Pacifica Companies, LLC, San Diego, was declared the winning bidder on a Fannie Mae bulk REO portfolio, paying just $12.3 million for a package of 699 Florida properties valued at $81.5 million.

After hitting rock bottom in the real estate bust, commercial mortgage-backed securities financing is making a comeback.

Cashmere Valley is turning to outsourcing to help make sense of the complicated legislation that after two years is still developing as provisions get delayed, clarified or rewritten. For banks with assets of less than $10 billion, it's not even clear which parts of the law apply.

3Rivers Federal Credit Union in Fort Wayne, Ind. will use the Web-based end-to-end loan origination system developed by LendingQB.

Fitch, Kroll and Moody’s Investors Service have issued presale reports on the latest transaction from the only consistent issuer of private-label mortgage-backed securities deals since the downturn.

Land Home Financial Services entered into a $20,000 settlement with the HUD over alleged violations of the Fair Housing Act involving an application where the wife was on maternity leave.