Mortgages

Bank of America will lay off 675 employees in Florida as part of the bank's broader plan to reduce its head count.

A major shakeup occurred last month in the senior ranks at nonperforming loan investor Arch Bay Capital with CEO Shawn Miller parting ways with the company.

Two Northern California real estate investors agreed to plead guilty for their roles in a conspiracy to rig bids and commit mail fraud at public real estate foreclosure auctions.

If you’re wondering why the nonperforming loan auction market hasn’t been more robust – especially given the fact that banks and the GSEs are sitting on billions of dollars in defaulted home mortgages – you can blame accounting rules, or so we’re told.

ViewPoint Bank in Plano, Texas, is selling its home lending unit to a Dallas-based nonbank lender as part of its continued shift from a thrift to a commercial bank.

A debtor in bankruptcy proposes a Chapter 13 plan to strip a second mortgage as unsecured and is found to be still in good faith, the CFPB proposes rules that could make life more difficult for lenders and originators, five states loom large in foreclosures, two foreclosure-related bills move forward in California, and various types of mortgage-related fraud allegations in different areas continue to move through the court system.

The question most people seem to be asking is whether the flat origination fee proposal is going to become law. While I do not have a crystal ball, here is my take on it: The CFPB will certainly err in favor of certain consumer groups over the industry, but won't do so when there is little to gain.

It’s spring and mortgage rates have tanked once again, spurring loan applications to spiral upward.

The Federal Reserve Board unanimously approved the release of a set of proposals that would raise banks' minimum capital requirement to 7%.

Ellie Mae registered a $60 million primary offering and a secondary offering of 1 million shares of common stock, a move that precedes a potential prospectus filing by the Pleasanton, Calif.-based mortgage technology vendor.

According to the DOJ’s investigation, SunTrust violated the Fair Housing Act and Equal Credit Opportunity Act by charging more than 20,000 African American and Hispanic borrowers higher fees and interest rates based on their race and not on borrower risk.

How many houses would be built if it cost $1 million apiece to build modest single-family homes?

Businesses went knocking on banks' doors to ask for more loans over the past few months, boosting optimism that demand would continue to rise in the coming year.

The latest round of monthly 30-year conventional mortgage-backed securities prepayment speeds came in slower than some expected.

The approaching hurricane season could damage roughly four million residential properties whose estimated value exceeds $700 billion.

New figures compiled by the National Mortgage Licensing System show a wide difference between the operations of state-licensed mortgage companies and depository mortgage lenders.

The interest rate on a 30-year fixed-rate loan fell to 3.67% for the week ending June 7, an eight basis point decline from seven days earlier.

Being flat on your back for a couple of weeks gives you a lot of time to observe things, especially when it comes to marketing.

GMH Mortgage Services hired industry veteran Karen Bausman as its new president.

Is the Consumer Financial Protection Bureau lost when it comes to reengineering how loan officers and brokers can make a living? The words “confused” and “disorganized” are being used to describe the agency’s recent meetings with 17 professionals representing the “small” lending part of the industry.