Real Estate Mortgage Network is on the verge of launching a new correspondent division what will use the trade name HomeBridge, a company official told Inside Mortgage Finance.
Redwood Trust is set to issue its second non-agency jumbo MBS of the year, a $666.13 million security, according to a presale report released today by Kroll Bond Rating Agency. The MBS will largely consist of 30-year fixed-rate mortgages, with 51.4 percent of the originations from First Republic Bank. Plus other mortgage news briefs.
Fannie Mae is ending the practice of assigning different guaranty-fee discounts to the various “affinity groups” or cooperatives that pool mortgages for sale into the secondary market, Inside Mortgage Finance has learned.
Bank of America, which is in the process of selling roughly $308 billion worth of mortgage servicing rights, recently trimmed its servicing staff by at least 700 workers...
Fourteen months after the White House signaled its intention to make Carol Galante the nation’s next housing commissioner, the Senate on Sunday afternoon finally confirmed her nomination.
Industry veteran Jon Daurio, who’s trying to raise $250 million to start a new nonprime lender, is hoping to have much of the work tied to his capital raise completed by the end of the first quarter of 2013.
The Consumer Financial Protection Bureau may reconsider certain regulatory exemptions to its servicing rules as they pertain to small servicers, agency counsel Mitchell Hochberg said during an Inside Mortgage Finance webinar late Tuesday afternoon.
The Mortgage Bankers Association this week launched a new task force to study the future of the GSEs, naming 17 industry executives from residential finance-related firms both large and small. MBA president David Stevens told Inside Mortgage Finance that his goal to have the working group publish a final working paper on what to do with Fannie Mae and Freddie Mac by mid-year 2013. “This task force is very inclusive of the industry,” said Stevens.…
New residential loan applications fell 12.3 percent for the week ending Dec. 14 with the reading on its refinancing index dropping to the lowest level in just over a month, according to new survey figures compiled by the Mortgage Bankers Association. The refi share of all new business fell to 83 percent from 84 percent the week prior. MBA vice president of research Mike Fratantoni blamed the decline on rates which rose during the second…
PHH Mortgage and an affiliate have renewed a $450 million warehouse line with Wells Fargo Bank, N.A. for another year but reduced another facility it had with Barclays Bank PLC, according to a recent filing with the Securities and Exchange Commission.