Origination volumes for commercial and multifamily mortgages declined from Q2 and year-over-year, according to data from the MBA.
Read More »Agency Suits Against Goldman, Deutsche Bank to Go On
Two more banks have lost in their attempts to dismiss claims of misconduct in sale of mortgage-backed securities (MBS) to Fannie Mae and Freddie Mac. U.S. District Judge Denise Cote rejected motions filed by Goldman Sachs and Deutsche Bank, two of 16 defendants brought before her court by the Federal Housing Finance Agency (FHFA). Cote's rulings on both motions cite previous judgments made on similar arguments brought to her by JPMorgan Chase, Bank of America, and UBS--all of which also failed.
Read More »Report: Originations Up in Q3, Market Opens Up Among Top Lenders
Mortgage origination was up in the third quarter, and it looks like there's a little more room at the top.
Read More »Judge Refuses to Dismiss FHFA Suit Against Merrill Lynch
Bank of America's Merrill Lynch unit lost in an attempt to throw out an action from the Federal Housing Finance Agency over mortgage-backed securities (MBS) sold to Fannie Mae and Freddie Mac. Merrill's motion to dismiss the case did not hold up under scrutiny from U.S. District Judge Denise Cote, who is overseeing claims filed by FHFA against Merrill and a number of other banks. Only days prior, Cote denied a similar motion filed by JPMorgan Chase.
Read More »Mortgage Rates Stand Ground as Markets Look Ahead
It's been a tumultuous couple of weeks for Americans, but mortgage rates have been rock-steady.
Read More »Freddie Mac: 83% of Q3 Refinancers Maintain or Cut Debt
The vast majority of homeowners who refinanced in Q3 2012 either maintained or slashed their loan debt, according to a release from Freddie Mac.
Read More »Freddie Mac Reports Quarterly Profit of $2.9B
A turnaround in housing helped drive Freddie Mac to a $2.9 billion profit in the third quarter, the GSE reported.
Read More »Mortgage Rates Hover as Uncertainty Reigns
Fixed mortgage rates fell back slightly to start November as investors anxiously wait for signs of which direction the economy is headed.
Read More »Mortgage Insurers to Allow Short Sales, Deeds-in-Lieu Without Approval
Fannie Mae and Freddie Mac servicers will be able to skip a step when attempting to get a short sale or deed-in-lieu of foreclosure approved. On Wednesday, the GSEs announced standard delegation agreements were reached with nine mortgage insurers to allow servicers to complete short sales and deeds-in-lieu without seeking approval from the mortgage insurer. The agreement takes effect November 1. The short sale or deed-in-lieu still has to meet the GSEs' requirements, but servicers don't have to wait for mortgage insurers to offer their stamp of approval.
Read More »Agencies Announce Mortgage Relief Strategies for Disaster Victims
The GSEs and HUD are rolling out relief strategies for borrowers caught in the devastation brought on by Hurricane Sandy.
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