Provident Originations, Servicing Up, Staffing Off
Although there was a quarterly blossoming in originations and servicing, Provident Funding Associates LP fell short of a year earlier. Employee headcount was off but up slightly in the yearly comparison.
3rd Party Reviews Better Than Reps and Warrants
Investors could benefit more from third-party loan reviews than from representations and warranties, a ratings agency report says.
Freddie Reports Solid Performance in June
Secondary activity picked up last month at the Federal Home Loan Mortgage Corp., while serious residential delinquency moved lower and past-due payments on apartment loans improved.
Ginnie Moving Issuer Approvals Online
The Government National Mortgage Association's issuer approval process is moving out of the analog era and into the 21st century.
Citi Sues Former Owners of Defunct Mortgage Lender
CitiMortgage Inc. is suing the former owners of a defunct mortgage banker alleging that it was defrauded on several loans it acquired from the lender.
Concern Over GSE Shift to Smaller Sellers
The Federal National Mortgage Association and the Federal Home Loan Mortgage Corp. are acquiring a bigger share of their business from smaller players -- a trend that presents risks.
Correspondent Drives Down Chase Mortgage Volume
Unlike its two peers that have so far reported a quarter-over-quarter increase in mortgage originations, home lending slipped at JPMorgan Chase & Co. thanks to its correspondent business.
Massive Mortgage Securities Settlement at Citi
Citigroup Inc. has reached a settlement with federal and state officials that will resolve an investigation into its mortgage securities activities.
Some Mini-Correspondents Subject to Broker Rules
Guidance has been issued to help mortgage brokers that are transitioning to mini-correspondent lenders better understand whether they are still subject to broker rules.
Ginnie MBS Issuance Up 3 Months in a Row
For the third consecutive month, Government National Mortgage Association issuance has increased. Overall residential and jumbo activity strengthened, while reverse mortgage and multifamily business weakened.