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LATEST U.S. MORTGAGE NEWS
Last Updated Friday, January 27, 2012 04:13 PM Central
MOST READ (Past 7 Days)

No Improvement in FHA Delinquency for 8 Months

 Jan. 27, 2012
The Federal Housing Administration managed to lift its mortgage volume last month, though annual volume fell and upcoming activity appears headed lower. Serious delinquency has not improved for eight months.

FHA mortgagees obtained endorsements on 93,739 loans during December for $16.7 billion, according to operational data on the Federal Housing Administration.

Production was higher than 88,206 mortgages insured for $15.6 billion in November.


Quicken Recruiting in Detroit

 Jan. 27, 2012
Quicken Loans Inc. is bringing on 800 people. But there is a catch to some of the additions.

RMBS Fraud Task Force Rapidly Takes Shape

 Jan. 27, 2012
It has only been three days since the Residential Mortgage-Backed Securities Working Group was made public, and several subpoenas have already been handed out.

U.S. Originations Off 13% in 2011

 Jan. 27, 2012
It looks like U.S. mortgage bankers closed 13 percent fewer loans last year than they did in 2010. Monthly volume was also lower.

Rates Increase But Might Retreat

 Jan. 26, 2012
After falling to all-time lows last week, mortgage rates had nowhere to go but up -- which they did. Now it looks like they might be headed back down.

BofA, Chase Each Could Lose Over $60 mil in HAMP Incentives

 Jan. 26, 2012
More than $100 million in payments due to JPMorgan Chase & Co. and Bank of America Corp. for modifications completed under the Home Affordable Modification Program could be withheld -- possibly permanently.

FHA Refi Plan Has Little Chance Congressional Approval

 Jan. 26, 2012
The $10 billion tab for the administration's proposed plan to provide Federal Housing Administration refinances for up to 4 million borrowers whose existing loans are not owned or guaranteed by Fannie Mae or Freddie Mac would be charged to mortgage lenders.

Proposed Servicer Settlement Not Good Enough for California

 Jan. 26, 2012
The latest rendition of a proposed settlement between servicers and state attorneys general just doesn't cut it, according to California's attorney general.

Litigating Secondary Trades

 Jan. 26, 2012
Several recent lawsuits tied to secondary marketing involve criminal activity. The alleged schemes often involve selling loans that are lower quality than what is being marketed, while other cases involve trading mortgages that didn't even exist.

Condo Communities Grapple With FHA Certification

 Jan. 26, 2012
During the past three months, more than a third of condominium communities that were submitted for certification to the Federal Housing Administration have been rejected.

Best Mortgage Employers
Jan. 22, 2012
Only a few mortgage-related firms were among the highest-ranking employers in an annual review of the best places to work in America.

At the top of FORTUNE's 2012 100 Best Companies to Work For was Google.

<read full story>

LOs Recruited at Brisk Pace
Jan. 18, 2012
Loan originators are often approached about joining another organization, some as often as every month, according to a survey of mortgage salespeople. Regulation and legislation are seen as challenges for 2012.

A majority of mortgage loan originators see an increase in oversight and legislation as the biggest challenge they will face this year.

<read full story>

Over 1000 Chase Hirings in Calif Include LOss
Jan. 24, 2012
JPMorgan Chase & Co. is investing more in California, and some of that investment is in mortgage production.

The New York-based firm made its foray into the Golden State with its September 2008 acquisition of Washington Mutual Bank after the Office of Thrift Supervision threw the former West Coast giant into receivership.

<read full story>

MORTGAGE VIDEO NEWS mortgage video news
Video interview of Morgan Stanley economist David Greenlaw
Republican Among Potential Choices for FHFA Chief
A boost to the housing market has bi-partisan support, according to a Wall Street investment banking economist. He also noted that it has been suggested a Republican could be Obama's choice to head the Federal Housing Finance Agency.
<watch video>
Video of Richard Cordray discussing non-bank regulation
CFPB Director: Shadow Banking System Didn't Work
Much of the blame for the financial crisis can be ascribed to financial service providers who were not regulated, according to the new director of the Consumer Financial Protection Bureau.
<watch video>
Video of House Oversight Committee hearing
Congressman Defends Position Opposing Trade Groups
Housing trade groups oppose legislation that does not include a government role in legislation that reforms mortgage lending.
<watch video>
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