Mortgages

The committees that have been filtering transaction proposals for Fitch Ratings since the first quarter of 2009 began registering their first formal rejections of global commercial MBS securities proposals during the third quarter.

First Financial Holdings Inc. in Charleston, S.C., has proven its doubters wrong.

JPMorgan Chase late last week rebutted federal claims that it misled four now defunct corporate credit unions into buying $1.5 billion of risky MBS and pointed the finger - as NCUA's own internal reviews have - at the management of the failed corporates and at NCUA's own examiners.

Realtors are fervent believers in free markets, and acknowledge the need for private capital to reduce the federal government's role in this sector. However, our members are practical and understand that in extreme economic conditions private capital will retreat from the market, requiring the participation of an entity that will remain active in the marketplace regardless of economic conditions.

Third-quarter earnings for the mortgage insurers and title insurers will show two industries heading in different directions, analysts from Keefe, Bruyette & Woods declared. They raised their operating earnings estimates for title insurers, who should have better-than-expected results for the third quarter as a result of refinancings.

Bank of America, which has vowed to reduce its overall risk in mortgages, is close to completing the sale of a $50 billion package of Freddie Mac mortgage servicing rights, according to advisors close to the deal.

A survey conducted by Zillow reveals that most homebuyers know how to purchase a house -- but their expectations for homeownership are out of line with reality.

Valley National Bancorp, Wayne, N.J., said its third-quarter profit rose 8.3% from the same period last year, as it made more real estate loans.

Investor demand for commercial real estate loan portfolios in boththe U.S. and Europe appear to be rising, but these are “two different markets right now,” according to one expert.

The Georgia Department of Banking and Finance this week issued a cease and desist order against two mortgage companies for allegedly conducting business in the state without a license.

In today's constantly connected and always-communicating environment, why is it that—it seems to me, anyway—communication skills are worse than ever?

The moribund mortgage insurance business of Old Republic International Corp., Chicago, lost $238 million on a pretax basis in the third quarter, driving the parent company to a $117 million net loss for the period.

Viewpoint Bank, Plano, Texas, ended the third quarter with $910 million of warehouse lending commitments on its books, a handsome 26% gain compared to the same period a year ago.

Rep. Scott Garrett unveiled a reform plan on Thursday designed to draw the private sector back to the secondary-mortgage market after troubled Fannie Mae and Freddie Mac are eventually terminated.

Lawmakers are questioning Bank of America's recent transfer of derivatives from its Merrill Lynch subsidiary to its retail bank subsidiary.

Bank of America is working "very hard" on a short sale-to-lease program for distressed borrowers who don't qualify for government-backed refinance programs.

The nation's second largest title insurer, First American Financial Corp., earned $21 million in the third quarter, a 36% decline compared to the same period a year ago as revenues fell 3% due to a decline in title premiums.

The average rate charged on most mortgage products remained relatively stable for the week ending October 27, hovering near their recent lows, according to figures compiled by Freddie Mac.

The number of consumers who signed contracts to buy homes fell for the third straight month in September after the traditional spring/summer buying season failed to entice many new buyers.

During the first nine months of the year Fannie Mae issued $16.7 billion of multifamily MBS, already surpassing its volume for all of last year.