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Mortgage profits lag origination gains at Wells Fargo, JPMorgan Chase
News 21 hours ago
Mortgage profits lag origination gains at Wells Fargo, JPMorgan Chase

Wells Fargo and JPMorgan Chase recorded stronger mortgage originations in the second quarter as rates fell, but profits from single-family loans...

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Sprint HQ's lease-buyback deal to be financed via large-loan CMBS
News 23 hours ago
Sprint HQ's lease-buyback deal to be financed via large-loan CMBS

A developer involved in the lease-buyback acquisition of Sprint Corp.'s sprawling global headquarters campus near Kansas City, Mo., plans a large...

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Citi's mortgage earnings decline despite origination surge
News 1 day ago
Citi's mortgage earnings decline despite origination surge

Despite a significant rise in first-mortgage production due to lower interest rates, profits from home lending in Citigroup's retail banking...

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Life insurers' upped mortgage investments risky in case of downturn
News 1 day ago
Life insurers' upped mortgage investments risky in case of downturn

Life insurance companies increased their mortgage investments to levels higher than historical norms, creating more potential danger for their...

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Agencies release update on capital proposal for CRE assets
News 4 days ago
Agencies release update on capital proposal for CRE assets

WASHINGTON - The federal banking regulators issued a new proposal Friday asking for further public comment on changing the definition of a "high...

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FHA postpones digital signature requirement for appraisals
News 4 days ago
FHA postpones digital signature requirement for appraisals

The Federal Housing Administration is delaying a plan to put a hard stop on home loan files that lack digitally signed appraisals. The FHA...

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Average mortgage rates remain stable, but more drops are likely
News 6 days ago
Average mortgage rates remain stable, but more drops are likely

While mortgage rates remained unchanged this past week, further drops are possible as signs from the Federal Reserve point to a short-term rate cut...

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Total application volume down although purchases continue to rise
News 1 week ago
Total application volume down although purchases continue to rise

A decline in refinancings led to a drop in mortgage application volume last week, even though purchase activity continues to rise, according to the...

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Self-storage operator taking out cash return in $264.1M CMBS deal
News 1 week ago
Self-storage operator taking out cash return in $264.1M CMBS deal

Prime Storage Group, the largest operator of private self-storage facilities in the U. S., is refinancing debt through the commercial mortgage...

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Suit accuses Maine developer of stealing as properties go to auction
News 1 week ago
Suit accuses Maine developer of stealing as properties go to auction

A developer behind projects in the Maine cities of Portland and Saco has been sued by a business partner who alleges he "squandered, embezzled and...

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News 1 week ago
Freddie kicks off summer K-Deal calendar with $1.33B offering

Freddie Mac is launching a new $1.33 billion issuance of notes through its "K-Deal" certificates series, the first of possibly six consecutive...

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Montana affordable housing program goes into effect
News 1 week ago
Montana affordable housing program goes into effect

The Whitefish, Mont., Legacy Homes Program intended to create housing for those with moderate incomes officially went into effect on July 3. The...

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A CDFI's digital ambitions
News 1 week ago
A CDFI's digital ambitions

Steven Schnall has made a career out of helping mortgage companies expand. For a time, he ran New York Mortgage Trust out of his Manhattan...

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Amazon can make a big splash in the mortgage business or wipe out
News 1 week ago
Amazon can make a big splash in the mortgage business or wipe out

The current state of the mortgage industry has left the door wide open for newcomers with major brand awareness. Customer experience remains poor -...

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Mortgage application activity flat, but FHA refi volume soars
News 2 weeks ago
Mortgage application activity flat, but FHA refi volume soars

Mortgage application activity was virtually flat from one week earlier, down just 0.1%, although there was a huge gain in Federal Housing...

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Alt-doc mortgages performing better than expected so far: Fitch
News 2 weeks ago
Alt-doc mortgages performing better than expected so far: Fitch

Mortgages using alternative documentation like bank statements for underwriting performed stronger than expected, but uncertainty remains about...

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Customers in Pa. warns of earnings hit after mortgage client shuts down
News 2 weeks ago
Customers in Pa. warns of earnings hit after mortgage client shuts down

Customers Bancorp in Wyomissing, Pa., expects to take an earnings hit after a client unexpectedly closed. The $10.1 billion-asset Customers...

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Mortgage industry calls for servicing regulation uniformity in New York
News 2 weeks ago
Mortgage industry calls for servicing regulation uniformity in New York

The mortgage industry is calling for better alignment between the federal government and state of New York regarding proposed regulatory revisions...

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Average mortgage rates sink after 'action-packed' couple of weeks
News 2 weeks ago
Average mortgage rates sink after 'action-packed' couple of weeks

Average mortgage rates dropped for the seventh time in the last nine weeks following news from the Federal Reserve of a possible near-term rate cut...

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EF Hutton admits it has not paid mortgage on Ohio headquarters
News 2 weeks ago
EF Hutton admits it has not paid mortgage on Ohio headquarters

EF Hutton admitted in a court filing that it has defaulted under the terms of its contract with a real estate company and that the company has...

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FB Financial wraps up mortgage refresh with correspondent channel sale
News 2 weeks ago
FB Financial wraps up mortgage refresh with correspondent channel sale

FB Financial is selling its correspondent lending channel to Rushmore Loan Management Services, which will complete the bank holding company's...

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News 2 weeks ago
Affordable housing focus of Ohio county's development plan

An Ohio county would invest an additional $65 million to spur construction of 2,050 affordable housing units over the next decade under...

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Why some mortgage lenders are searching for ways to make small loans
News 2 weeks ago
Why some mortgage lenders are searching for ways to make small loans

Small loans can be nettlesome for lenders given their lack of economies of scale and how thin mortgage margins have been, but they can pay off in...

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Falling mortgage rates push refi activity to 2019's highest share: MBA
News 2 weeks ago
Falling mortgage rates push refi activity to 2019's highest share: MBA

The refinance share of mortgage applications climbed to the highest level since January 2018 as the average 30-year fixed interest rate continued...

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Senior-care properties part of Colony Capital's $1B CMBS
News 3 weeks ago
Senior-care properties part of Colony Capital's $1B CMBS

Private equity real estate investment giant Colony Capital will sponsor nearly $1 billion in bonds backed by a single commercial mortgage secured...

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How former Live Well employees will help Open Mortgage grow
News 3 weeks ago
How former Live Well employees will help Open Mortgage grow

Open Mortgage CEO Scott Gordon has a software and engineering background that may serve his company well given the task that lies ahead for it -...

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Automated valuations a mixed bag for RMBS credit quality: Moody's
News 3 weeks ago
Automated valuations a mixed bag for RMBS credit quality: Moody's

Because automated valuation models have not been subjected to a stressed housing market, their increased use holds negatives and positives for...

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Mortgage brokers want relationships, not just tech, from wholesalers
News 3 weeks ago
Mortgage brokers want relationships, not just tech, from wholesalers

The big players in the mortgage industry have grown increasingly dependent on promoting "bells and whistles" to the masses, as opposed to providing...

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Large banks hemorrhaged money on mortgage originations in 2018
News 3 weeks ago
Large banks hemorrhaged money on mortgage originations in 2018

Large banks had huge losses from originating mortgages in 2018 as costs were three times higher than similar-sized independent lenders, according...

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Blackstone refinancing shopping-center loan debt via $230M CMBS
News 3 weeks ago
Blackstone refinancing shopping-center loan debt via $230M CMBS

A Blackstone Group real estate affiliate is tapping the commercial mortgage backed securities market to refinance existing debt on 12 retail...

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