Mortgages

Real Estate Mortgage Network Inc. has launched a correspondent lending division to be operated out of its wholesale fulfillment center.

The one company to consistently aggregate jumbo loans for securitizations since the downturn has received an originator assessment from Moody’s Investors Service that finds it is “above average.”

Costco has started to offer mortgages through approved lenders and heavily marketing the program to its 68 million members.

As of April, the national shadow inventory was 1.5 million units, which represents a four-month supply.

Average fixed mortgage rates reversed course and inched up in Freddie Mac’s weekly survey, ending a run of record lows in recent weeks.

Three attorneys and a former attorney pleaded guilty in Manhattan federal court for conspiring to commit wire and bank fraud in connection with a $66 million mortgage fraud scheme.

If CFPB is successful in killing nonbank brokers who’s to say the agency won’t go after nonbank servicers next? That would mean all those REITs buying MSRs might be in danger.

It’s one thing when special interests declare “the end” of the housing debacle, but it’s another when such an august organization as the Joint Center for Housing Studies at Harvard University calls the bottom.

The Federal Home Loan Bank of Boston is teaming up bank employees with student volunteers from Bike & Build, a nonprofit organization whose mission is to construct affordable housing across the nation through cross-country bicycle trips that benefit affordable housing developers.

The Department of Housing and Urban Development’s Section 184 mortgage is the most successful loan ever to target American Indians.

Gramercy Capital Corp. has changed both its investment strategy and its management following completion of a strategic review.

U.S. consumers owed $8.995 trillion on their residential loans at the end of March – the lowest debt figure recorded in almost five years, according to new figures compiled by National Mortgage News and the Quarterly Data Report.

Foreclosure filings in May exceeded the 200,000 mark for the first time in three months as more servicers moved to take possession of real estate collateralized by delinquent home mortgages.

Experian’s research data show over 20 million underbanked consumers may be eligible for financial products normally reserved for prime credit prospects.

Researchers at Andrew Davidson & Co. found that by some measures “affordability” has not risen since the housing bubble burst, but rather remained about the same.

Among Telrock’s lending clients, 40% of borrowers who were contacted through a mobile service paid directly through the device within 30 minutes of receiving the alert.

It hasn’t been a good week for the loan brokerage community. On Monday Raj Date, the number two man at the CFPB, in a speech to the American Bankers Association blamed mortgage brokers (more or less) for the housing bust.

REO asset manager and loss mitigation provider Green River Capital is enhancing the broker price opinion and appraisal platform its valuation unit, Infinity Valuation Services, uses by utilizing technology from Realty Pilot.

A good way to gauge the profitability of renting a particular property is to calculate its capitalization rate—the expected expense-adjusted annual cash flows from renting a property relative to the acquisition price.

Fannie Mae, which boasts a “credit enhanced” delinquency rate of roughly 8% on its guaranteed loans, is moving closer to launching a pilot program to dispose of some of that product.