Mortgages

The Prestwick Mortgage Group is marketing a $58 million package of MSRs backed by mostly multifamily commercial mortgages held by private investors.

Orrstown Financial Services sold $28.6 million of nonperforming commercial loans to an unnamed outside investor.

As officials at the Consumer Financial Protection Bureau sift through the latest round of comment letters on the qualified mortgage rule, chances are they see another industry fire to contend with.

An Oregon homeowner’s fight against Merscorp Holdings was revived after a state appellate court reversed a lower court’s decision to rule in favor of the owner of the Mortgage Electronic Registration Systems before the case went to trial.

The next step in developing a warrior mindset.

Wells Fargo will continue to purchase brokered loans through its correspondent channel, which has cheered up the National Association of Mortgage Brokers.

The Federal Housing Administration will be selling 9,000 nonperforming single-family loans in September as part of its newly expanded note sale program.

U.S. Bancorp set record net earnings of $1.4 billion for the second quarter, up 18% from $1.2 billion in 2Q11.

Flagstar Bancorp reported that it earned $86 million in the second quarter compared with a loss of $74.9 million a year earlier.

LOS providers who offer, and lenders who select, an EDM product that’s crafted and maintained by a team of skilled craftsmen, not a “Jack of all trades” won’t be disappointed; even after the check is cashed.

PNC Financial Services said second-quarter profit declined 40% on costs tied to mortgage-putback demands.

Bank of America is growing its retail residential mortgage originations and hiring loan officers even as it continues to cut back debt and expenses in other areas.

Mortgage Technology will commend the lenders and servicers that use technology to improve processes, provide exceptional customer service and increase business with its annual list of the Top Tech-Savvy Lenders and Servicers. The deadline for all nominations is 6 p.m. EDT Thursday, August 16, 2012.

Total loan application volume increased 16.9% on a seasonally adjusted basis for the week ended July 13.

June statistics from the California Association of Realtors show home sales experienced solid gains annually and home prices reached their highest level since August 2010.

The problem with the jumbo MBS market is the sterling credit quality of current production and the staunch unwillingness of originators to sell mortgages into securitization trusts.

Fewer borrowers defaulted on their mortgage loans in June compared to the prior month.

The Census Bureau reported that single-family starts rose to a 539,000 seasonally adjusted annual rate in June, up from a 515,000 rate in May.

One legal expert says the use of eminent domain to seize mortgages out of private-label securities would diminish the value of the overall pool of securitized loans.

Drawing the line between regulatory failures and regulatory implementation failures is not an easy task.