Secondary markets

President Obama disagrees with the Federal Housing Finance Agency's refusal to allow principal reductions on mortgages but can do little to stop it.

One of the biggest compliance and litigation risks for lenders involves the performance of branch managers.

Provident Funding Associates, the nation’s ninth largest residential originator, has told its correspondent sellers that it will no longer accept mortgage insurance from the troubled MGIC Corp.

The Federal Housing Finance Agency has already increased guarantee fees on GSEs loans by 10 basis points this year—as required by Congress—but a new round of g-fee hikes is in the works.

PennyMac Mortgage Investment Trust, which started out in life solely as a nonperforming loan investor, is now cleaning up as a correspondent buyer of newly originated loans.

The Federal Housing Finance Agency’s decision to reject adoption of a principal reduction program had very little impact on the pricing of $53 billion of MBS backed by Home Affordable Refinance Program loans.

In an interview with Credit Union Journal, NCUA board member Michael Fryzel describes the mood and the thinking at NCUA in the months leading up to the conservatorship of WesCorp.

Fannie Mae reported that loan commitments hit $81.7 billion in June, up 13% from the month prior.

Mitsubishi Corp. will start originating CMBS in the U.S. through a joint venture with Five Mile Capital Partners.

According to figures compiled by the Mortgage Bankers Association, refi applications accounted for 81% of all new business for the week ending July 27.

Servicers of securitized commercial mortgage loans beware of the still-elevated delinquency rates.

Impac is looking to offer products in niches which are fragmentedbut offer the chance for wider margins, including reverse loans and 203(k) loans.

Commercial and multifamily mortgage originations in 2Q12 were up 25% on a year-over-year basis, benefiting from the same low interest rate environment that is sustaining residential mortgage lending.

But the HUD auction raises an interesting question: if HUD can unload nonperforming loans (NPLs) why can’t Fannie Mae and Freddie Mac?

A new series of Centex homes is designed “to respond to the increasing demand for affordable homes by “Generation Y,” the largest U.S. demographic, according to executives.

The story of WesCorp: How one corporate credit union came to grow fast, grow big, and grow into a problem that couldn't be resolved.

Late last week we blogged about how certain wholesalers are telling their loan brokers to take a number when it comes to getting approvals (and processing) on purchase money mortgages. We heard from a handful of brokers who said their wholesalers were different and from a few wholesalers who said they can move things along quickly.

Bank of America is ready to hit the market with a $100 million package of residential servicing rights backed mostly by nonperforming loans guaranteed by Freddie Mac.

Ocwen Financial—an avowed nonblank—is in the envious position of being among the nation’s fastest-growing specialty servicers with a niche in processing problem loans that no other company will touch.

If the CFPB makes brokering impossible, how many brokerage shops can afford to convert into a mortgage banking firm? The capital requirement is currently $2.5 million, while rumors persist that it may be hiked to $3.5 million over the next few years. The net worth requirement is set by Fannie Mae, Freddie Mac, and GNMA/FHA…