Mortgages

Sterling Bancorp confirmed that it has acquired Universal Mortgage Inc., a mortgage brokerage firm that has its offices in Brooklyn.

MGIC Investment Corp. lost $274 million in the second quarter, almost double the amount of red ink it suffered in the same period a year ago.

If you’re a flaming liberal in Congress you view the Ed DeMarco-principal-reduction controversy as follows: Fire that Republican now!

Over the past year Ocwen has agreed to purchase large MSR portfolios from JPMorgan Chase, Litton Loan Servicing and Saxon Mortgage.

Mortgage refinancings once again drove banks' profits last quarter and, with interest rates at record lows, most industry experts expect the trend to continue at least through the end of the year.

A decision by the Georgia Court of Appeals has added new language to a notice of foreclosure requirement case that, according to some analysts, could invalidate thousands of Georgia foreclosures.

Fannie Mae this week opened a mortgage help center in Ontario, Calif., and now operates a dozen centers nationwide that provide free education and counseling servicers to struggling homeowners.

The mortgage disclosure proposal is intended to simplify the disclosure process by combining overlapping requirements in the Truth in Lending Act and Real Estate Settlement Procedures Act.

Streamline refinancing applications have more than doubled since the Federal Housing Administration opened a special program on June 11 for existing FHA borrowers who had not refinanced since May 2009.

The Consumer Financial Protection Bureau has taken its first civil action, suing and effectively stopping business at a Los Angeles law firm that charged homeowners for loan modifications that allegedly never happened.

Electronically signed 4506-T forms will mean that lenders will be able to verify the borrower’s income in as little as a few minutes.

Fannie Mae reported that loan commitments hit $81.7 billion in June, up 13% from the month prior.

Radian and most mortgage insurers consider HAMP transactions a modification of existing coverage and do not include it in new policies written.

From 2007 to 2011, more than 1.5 million older Americans lost their homes as a result of the mortgage crisis.

Mitsubishi Corp. will start originating CMBS in the U.S. through a joint venture with Five Mile Capital Partners.

Recently we heard of a West Coast REO auction where one investor arrived in a hotel ballroom (where the event was being held) with body guards and $40 million worth of cashier checks.

Barclays Capital, Citigroup Global Markets, Credit Suisse and Deutsche Bank Securities were among the winning bidders for the sale of roughly $4.5 billion of additional assets from the Maiden Lane III portfolio.

The loan limit on VA-guaranteed loans is slated to move up to $729,750 again, staying there for two years now that House of Representatives has passed a Veterans benefits bill.

According to figures compiled by the Mortgage Bankers Association, refi applications accounted for 81% of all new business for the week ending July 27.

Ally Financial Inc. lost $898 million in the second quarter, blaming its troubled (and bankrupt) mortgage banking division, Residential Capital Corp., for its problems.