Mortgages

Technology vendor a la mode said its connection to the GSEs' new appraisal delivery portal has passed testing and is now operational, submitting appraisals to Fannie Mae and Freddie Mac through the Uniform Collateral Data Portal, or UCDP.

Bank of America Corp.'s board has been told the company could face a public enforcement action if banking regulators aren't satisfied with recent steps taken to strengthen the bank, according to a report by Dow Jones.

Nevada didn't explicitly forbid Bank of America Corp. from initiating new foreclosures within its borders last month. But it might as well have done so.

David Bochsler, one of two Bank of America divisional production managers who got the ax when the bank exited a handful of retail states early in the fall, has accepted a position with Cobalt Mortgage in the Seattle area.

Webster Financial Corp., Waterbury, Conn., received court approval to settle longstanding litigation over a condominium project in Columbus, Ohio, that had previously resulted in an almost $19 million verdict.

The on-going foreclosure crisis is "not even halfway" over, according to a new Center for Responsible Lending study that looked at mortgages originated between 2004 and 2008.

Renewed financial concerns about U.S. and international debt roiled capital markets once again Monday morning, driving the long-term rate-indicative 10-year Treasury yield below 2% and putting downward pressure on industry stocks.

The first-ever statewide PACE program, which already has $2 billion of validated bonding capacity from a Florida court, is on an aggressive track toward implementation with the selection of nationally recognized financial advisors.

November remittance data showed that the $192 million loan backed by the Manhattan Apartment Portfolio was liquidated. According to Barclays Capital CMBS analysts, if the loan's disposition strategy is right, this might be considered the largest note sale ever in CMBS.

The extraordinary actions taken by the Fed during the financial crisis were a "problematic exercise in credit allocation," according to Federal Reserve Bank of Richmond President Jeffrey M. Lacker, who added purchases of U.S. Treasury securities could have created the same "expansion of reserve supply."

The unemployment rate will remain above 7% for the next three years and the country won't be at “maximum employment until 2016,” Federal Reserve Bank of San Francisco president and chief executive John C. Williams said Friday.

The Fed can do more to help the economy, and buying mortgage-backed securities could be a good start, since it would boost the beleaguered housing market, Federal Reserve Bank of New York President William Dudley said Thursday.

Moody's Investors Service downgraded the rating of Colorado Housing and Finance Authority (CHFA) to A2 from A1 on Friday.

Sales of existing single-family homes rose 1.6% in October after falling 4% in September with purchases remaining "stuck in a narrow range," according to new figures released by the National Association of Realtors.

Over the years, the mortgage industry has had its share of celebrity endorsers. The most famous were probably Jim Palmer and the late Phil Rizzuto who were, at different times, the pitchmen for subprime mortgage lender The Money Store.

Mike D'Alonzo last week officially stepped down as president of the National Association of Mortgage Brokers, saying he wants to spend more time running his Pennsylvania-based brokerage firm.

An Idaho bank holding company is shutting its own mortgage production operations and instead will use a third-party originator to provide mortgage funding for its clients as part of its expense reduction efforts.

The nominee to run the Federal Housing Administration opposes extending higher limits on federally-insured loans.

An estimated 1 million homeowners with Federal Housing Administration-insured loans could benefit by refinancing at today's low rates -- but the government's mortgage insurer doesn't think it will happen.

Five months and counting. That's the number of months the Houston market has showed gains in its existing home sales.