Mortgages

Presidential Realty Corp., a real estate investment trust based in White Plains, N.Y., has terminated its plan of liquidation and instead entered into a strategic transaction where affiliates of Signature Community Investment Group LLC acquired a significant interest in the company.

When voting for the next president in the 2012 election, about 70% of Americans said how the candidate plans on addressing the current housing crisis is going to dictate their final decision, according to a Move Inc. survey.

Wells Fargo, the nation's largest mortgage lender, has launched a new home lending website to assist people toward achieving sustainable home ownership.

REO maintenance and inspections provider Mortgage Contracting Services has launched a new online platform to educate its contracted employees more effectively about how to do their jobs correctly and new regulations that go into effect.

Porter Bancorp struggled in the third quarter reporting a net loss of $12.2 million. For the year, the Louisville, Ky.-based bank's shareholders have lost $50.8 million.

Webster Bank is offering special assistance to homeowners and businesses affected by the October snowstorm that slammed parts of the Northeast region.

Ally Financial Inc. is actively considering putting its ailing Residential Capital Corp. mortgage lending unit into bankruptcy, according to a report from Dow Jones.

The Federal Housing Administration confirmed that it has hired a new multifamily director and a new chief risk officer.

For most Americans, paying for their children's' college education is a much higher priority than saving money for retirement or for dealing with future medical expenses. A study conducted by Massachusetts Mutual Life Insurance Co. found that only three in 10 American parents feel they are adequately preparing for retirement.

The Consumer Financial Protection Bureau is close to completing its redesign of the Good Faith Estimate form that home buyers receive after applying for a mortgage — but some industry groups believe the agency needs to test the disclosures on real loans.

Mortgage applications jumped 10.3% for the week ending Nov. 4, a sign that continued low interest rates are starting to entice consumers, according to new figures compiled by the Mortgage Bankers Association.

Fannie Mae reported a net operating loss of $5.1 billion for the third quarter, compared to a $1.3 billion loss a year ago, as fair value changes on derivatives and interest rate swaps swamped revenues.

Walter Investment Management Corp. posted a $61.7 million loss in the third quarter, citing higher operating and debt costs tied to its purchase of specialty servicer Green Tree Servicing, St. Paul, Minn.

The Mortgage Bankers Association posted a $28.4 million loss for its fiscal year ending September 30, 2010, almost double the loss it suffered the year before.

County and state officials are turning up the heat on MERS, as recent lawsuits filed in Florida and Delaware challenge the validity and accuracy of the mortgage industry-controlled loan registry.

By now you've seen the stories about Bank of America losing some of its top loan producers who—among other things—are griping about the painfully slow underwriting and closing times at the troubled residential lender.

Mortgage Guaranty Insurance Corp.'s delinquent loan inventory declined by over 1,000 loans in October although new notices outpaced cures by 3,500 loans.

Whether users call it a one-stop shop, bounded services or component servicing, vendors are racing to leverage easy-to-use technology that can be constantly updated with new tools capable to help manage the mortgage servicing process and enhance the resale value of distressed properties.

All the new requirements for property valuations in the mortgage lending industry, both on the servicing and loan origination sides of the business, have enhanced the need for different types of products to be introduced into the market.

When most mortgage originators made their sales plan for 2011, they probably anticipated a year that was heavy on the purchase side, with rising interest rates keeping total volume down.