Mortgages

CitiMortgage, the nation's sixth largest residential wholesaler, Wednesday afternoon informed its loan brokers that it will cease table funding loans next week as it prepares to exit the channel.

Ellie Mae created a new chief information officer position and hired David Robbins to fill the new role, the mortgage technology vendor announced.

There has been a relative increase in builder debt issuance this week and more may be on the way.

President Obama is urging Congress to pass a bank tax, funneling the money over to the Federal Housing Administration which will then refinance non-GSE borrowers who are under water on their loans.

December was the best month of 2011 in terms of primary new mortgage insurance written by the current membership of the Mortgage Insurance Cos. of America.

The Federal Housing Finance Agency is preparing to back away from a controversial plan to overhaul the 25 basis point minimum servicing fee paid on Fannie Mae and Freddie loans, after intense, across-the-board industry opposition to the idea.

Fannie Mae's issuance of mortgage-backed securities jumped 20% in December after a similar increase in November, according to new figures released by the mortgage giant.

Is the Obama Administration starting to listen to the mortgage industry - and in a good way? Well, don't throw a party quite yet, but two major mortgage developments this week suggest that perhaps the White House is starting to understand that you can't have a housing recovery without the cooperation of lenders and servicers that make the loans.

The Federal Housing Finance Agency announced Wednesday that investors interested in participating in a program to convert real estate owned properties into rental homes could begin pre-qualifying for this initiative now.

To facilitate "streamline" refinancings, the Federal Housing Administration will no longer rank lenders based on the performance of those loans in its Neighborhood Watch system.

Mortgage application volume fell by 2.9% for the week ended Jan. 27 from the previous week, even though mortgage interest rates declined for fixed-rate mortgages, according to the Mortgage Bankers Association.

As the number of vacant homes continues to increase throughout the country, municipalities are becoming more conscientious about how banks and mortgage servicers maintain these empty properties.

The two largest remaining private mortgage insurers took actions that at least give them a chance at a future, while for a third company its dim outlook for staying in this business got even darker.

Larry King has made a career (and millions of dollars) interviewing people. You can do the same thing-by interviewing experts, authors, speakers, and real estate agents from different parts of the country-yes, even agents in your lending area.

Four federal financial regulatory agencies on Tuesday reiterated supervisory guidance related to allowance for loan and lease loss estimates associated with junior liens on home mortgages, suggesting renewed scrutiny in this area.

Federal banking regulators Tuesday issued new guidance to ensure that depositories are properly estimating potential losses on second mortgages and home equity lines of credit.

While the topic is old and familiar, the search for best strategies and a "new world order" in single point of contact borrower management continues.

The Consumer Financial Protection Bureau still has to make a key decision before it can finalize a regulation that will determine what kind of loans -- and features -- mortgage bankers can offer consumers without facing potential legal liability of up to $100,000 per unit.

Ally Financial Inc. disclosed Tuesday that it will incur a $270 million charge in the fourth quarter - and an overall loss for the entire firm - due to what it calls "penalties" imposed by regulators and the states tied to "foreclosure related matters."

Barry Habib, a mortgage origination marketing expert and former top producer, has joined Residential Finance Corp., Columbus, Ohio, as its chief market strategist.