Mortgages

PHH Mortgage said it will no longer accept new FHA Streamline refinancings from correspondent lenders unless it is already servicing the loan, according to a memo provided to National Mortgage News.

MSI Mortgage Services III LLC has finally put together all the pieces so it can refinance hundreds of underwater conventional loans per month through the FHA’s short sale program.

Lenders can try as hard as they want to prevent mortgage fraud, but it always seems that the fraudsters will be one step ahead of them when devising a scheme.

The latest upgrade, version 1.1.001, connects all real estate professionals involved in short sale transactions into one nationwide network.

Commercial banks reported 25% growth on an annualized basis in their loan portfolios for the week ending June 6, led by a 75% annualized increase in single-family mortgages ($22 billion).

Bay Area home sales jumped almost 15% in May on a sequential basis—and 26% compared to a year ago.

Bay Area home sales jumped almost 15% in May on a sequential basis—and 26% compared to a year ago.

The Federal Housing Administration has rescinded its controversial underwriting requirements for borrowers with ongoing credit disputes slated to go into effect July 1.

The Securities and Exchange Commission has appointed Thomas Butler as director of the agency's new office of credit ratings.

A week after it was disclosed that Wells Fargo & Co. would only engage in new FHA Streamline refinancings from its own servicing portfolio, it appears that other large lenders might follow suit.

Structured finance investors would prefer to rely on fewer sources of pricing for tracking deals, according to 107 investors in the industry surveyed by Principia Partners.

It could be the most underserved part of the market: investors stuck with rental properties – and who don’t want to default – need to refinance but can’t because they’re underwater on home equity.

Former Taylor Bean & Whitaker CFO Delton de Armas pleaded guilty to one count of conspiracy to commit bank and wire fraud, and one count of making false statements.

Nobody's perfect. But with social media, blogs, forums and articles posted in the millions each day, you need to monitor your online reputation.

A multi-agency effort targeting some of the worst housing in the country is a welcome move, but only a start.

Several analysts have called last month's decision by the Federal Reserve to raise minimum Tier 1 common equity requirements for banks to 7% a death knell for thrifts.

State regulators closed banks in Georgia, Florida and Tennessee on Friday, making June a busy month for failures.

Wipro Gallagher Solutions' Abhinav Asthana discusses where he sees mobile mortgage technology going in the future.

The definition of "proxies" is an issue in discussions surrounding loan officer compensation.

Heritage Pacific Financial Inc. a Texas company is aggressively pursuing hundreds of Californians to collect second mortgage debt on homes they’ve already lost through foreclosure.