Defunct Internet Lender Settles With Creditors, Miami Herald Reports
Creditors will receive $130,000 to settle claims brought against the former head of the now-defunct Mortgage.com, according to a story in the Miami Herald.
He Caught the Plane to Reno, But Missed Catching a Ride on the Reading
A home-mortgage company manager almost got a chance to trade in the world's most famous real estate this week. Well, actually, the world's most famous not-literally-real estate.
Study Reveals Bias in Broker Fees
All other things being equal, the mortgage brokerage fee paid might not be equal, according to a new study.
New Credit Score Bill Passes Committee
A new bill aimed at consumer credit protection has sailed through committee and is on its way to the House floor.
Freddie Reports Healthy Pace of Business
Business activity was brisk last month, according to a secondary market giant.
Apps Down, Rates Up for the Week
Average fixed mortgage rates skyrocketed 27 basis points this week, according to Freddie Mac.
Freddie Releases Internal Audit
In an internal audit, investigators found problems with accounting and reporting by secondary lender Freddie Mac.
Radian Lien Protection Banned in California
An alternative to title insurance has been prohibited from sale in California.
Wells Fargo Reports Record Originations For Quarter
California bank Wells Fargo reported $135 billion in mortgage originations for the second quarter, 2003, a record, the company said.
Closings Climb, Cendant Cites
Mortgage lending took a leap at a company heavily associated with real estate, according to its announcement of earnings.
ABN AMRO Continues Roller Coaster Production
The U.S. mortgage operations of a Dutch bank reported a jump in loan fundings.
Michigan Lender Sets New Quarterly Record
Originations soared to new heights for Flagstar Bancorp, Inc., this quarter, the company reported.
Mortgage Activity Remains High Despite Continued Rate Climb
Fixed rates for mortgages jumped another 15 basis points this week, according to Freddie Mac.
Freddie Regulator Criticizes Candor
Freddie Mac's regulator has issued a statement indicating that the company has been less than "fully forthcoming."
Fannie Cites Another Record Quarter
Secondary lending giant Fannie Mae reported a drop in its mortgage portfolio during the second quarter 2003.
Bank of America Reports Records in Mortgage Segment
Mortgage banking revenue made a significant contribution to Bank of America's record $2.74 billion in earnings for the second quarter of 2003, according to the company's second quarter 2003 statement.
MBA Forecasts Rise in Lending Competition
A leading industry analysis has concluded that mortgage lenders will encounter ever stiffer competition in the next two years, as the economic recovery takes hold.
OFHEO To Investigate Freddie's New Chief, Paper Says
Freddie Mac's new CEO is being investigated as to what role he may have played in the company's accounting problems, the Wall Street Journal reported Friday, citing unnamed sources close to the investigation.
YSPs Survive State Appellate Court
An appeal to reinstate a lawsuit which claimed certain yield-spread premium payments violated compliance with HUD regulations has been denied by a California court.
Rates Continue Steady March Uphill, Freddie Says
Long-term interest rates shot upward, marking their second week of steep increases, Freddie Mac reported.
Lavish Lifestyle Lands Broker in Prison
INDIANAPOLIS -- A taste for money, luxury cars, and drugs has cost the owner of an Indianapolis mortgage company his business and his freedom.
Economists Predict Rest Of Year To Be a Busy One For Housing Industry
Housing and residential financing industries should march steadily along into the record books for 2003, leading economists said.
Are Refis Headed for Crash Landing?
The refinancing wave is set to wash out next year, according to a leading industry economist.
Countrywide Loan Biz Soars To New Heights In June
Monthly production for Countrywide smashed several previously set records, the company said.
Flagstar Unfurls Record Production
June saw record mortgage production for Flagstar Bancorp, the company said.
End of Refi Boom May Be Wake Up Call for Mortgage Wholesalers
Industry Commentary: Helping brokers succeed now will help wholesalers succeed later.
Pass-Throughs and More
Recent RMBS ratings activity.
Unemployment Climbs in June But Financial Sector Adds Jobs
The "financial activities" sector of the nation's workers continues to show growth, employing 68,000 new workers during June, even as unemployment overall hit 6.4 percent, according to the Bureau of Labor Statistics. The numbers represent non-seasonally adjusted totals.
Rates Head Higher, Freddie Says
The 30-year fixed rate for mortgages climbed upward for the second week in a row, with 15-year rates marking their third week of upward movement, according to Freddie Mac. The secondary lender also reported a slight rise in adjustable-rate mortgages for the week.
Countrywide Co-founder Dies at 79
David S. Loeb, who cofounded two major mortgage-industry lenders, died Wednesday, according to a statement released by IndyMac Bank, where he had recently retired as chairman. The company said he died in his Sparks, Nevada home and was 79.
Freddie Reports Growth, Portfolio Totals Still May be Revised
Secondary lending giant Freddie Mac has released its monthly production for May, reporting a growing portfolio.
Mortgage Fraud Among Charges that Land Former Texas Attorney General in Jail
A former Texas Attorney General is facing federal charges that include lying to obtain a $600,000 mortgage and using $400,000 in campaign funds for a down payment and improvements on the $775,000 home.
COFI Falls for 12th Straight Month
Adjustable rate mortgages that use a popular west coast index got another breather in May.