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LATEST U.S. MORTGAGE NEWS
Last Updated Tuesday, March 11, 2014 07:15 PM Central

MOST READ (Past 7 Days)

The Mortgage Recruiter preview \| full story \| March 11 As employment in the mortgage industry continues to contract, there are still a few firms that are adding jobs.
REO Discriminatory Action Against U.S. Bank Expanded preview \| full story \| March 11 An administrative complaint alleging that U.S. Bank neglects real estate owned located in minority areas has been expanded and could be converted to a civil complaint.
More GSE Resolution Legislation Emerges preview \| full story \| March 11 The latest federal legislation to emerge that would reform U.S. housing finance protects community banks, maintains Qualified Mortgage standards and establishes servicing standards.
Green Tree Wholesale AEs Find New Home preview \| full story \| March 11 Just a month after learning that their employer was getting out of the wholesale lending business, dozens of account executives at Green Tree Servicing LLC have been hired by a growing lender.
3/1 ARM Offerings Diminish preview \| full story \| March 11 In response to new regulations from the Consumer Financial Protection Bureau, lenders are moving away from 3/1 adjustable-rate mortgages to loans that don't adjust for at least five years.
OneWest Unloading Reverse Mortgage Unit preview \| full story \| March 10 OneWest Bank FSB hopes to unload a subsidiary that at one time was the second-biggest originator of reverse mortgages.
New Business Worse, Delinquency Better at MGIC preview \| full story \| March 10 New business at MGIC Guaranty Insurance Corp. fell to the worst level in two years. Delinquency, however, was at the most favorable rate in at least more than four years.
TX Jobs Cuts Bring BofA YTD Mortgage Layoffs to 1,000 preview \| full story \| March 10 Bank of America Corp. is continuing to reduce its mortgage headcount, with the latest round of layoffs in the Lone Star State bringing the year-to-date total to at least a thousand.
Fifth Third Closing Wholesale Division preview \| full story \| March 10 Just months after cutting back its wholesale lending business, Fifth Third Mortgage is closing down the entire wholesale division. The current regulatory environment was cited.
Privacy Breach at Small Mortgage Servicer preview \| full story \| March 10 The malfunction of a mailroom machine is being blamed for a mortgage servicer's breach of privacy for some of its borrowers.
mortgage news archives back to 1999

Lennar Closing Wholesale Unit
March 3, 2014
Lennar Corp.'s wholesale lending business is calling it quits, bringing to four the number of wholesalers that have closed down this year. Among other recent mortgage-related casualties were two banks, one credit union and a mortgage trade group.
<read full story>

Nationstar CEO Says Will Comply with NY Request
March 6, 2014
The chief executive officer of Nationstar Mortgage Holdings Inc. has indicated that the company plans to comply with a request for information from New York's top banking regulator.
<read full story>

New Penn Financial Acquires Mortgage Servicer
March 3, 2014
The acquisition of a mortgage servicing firm by New Penn Financial LLC is increasing the company's servicing portfolio by around $13 billion.
<read full story>

Wells Fargo to Appeal Angry Judge's Decision
March 7, 2014
Wells Fargo & Co. has indicated that it will appeal a decision by a New Mexico judge that will cost it more than $3 million because of how it applied life insurance proceeds to a mortgage.
<read full story>

Ocwen Unit Drives Reverse Mortgage Production Higher
March 3, 2014
For the second consecutive month, lenders lifted production of federally insured reverse mortgages higher. Ocwen Financial Corp.'s subsidiary was responsible for the improvement.
<read full story>

MORTGAGE VIDEO NEWS

Lack of GSE reform at heart of concerns

Henry Paulson Worries About Another Crisis
The former secretary of the Department of the Treasury who presided over the 2008 financial crisis is worried that conditions are ripe for another such event.
<watch video>

Video of interviews

Cordray Spars With GOP
The head of the Consumer Financial Protection Bureau made his way to Capitol Hill this week to deliver his semiannual report to lawmakers.
<watch video>

Video of interviews

The Players in Richmond's Eminent Domain Plan
Two of the key players in the battle between mortgage investors and and backers of an eminent domain plan talk about the controversial scheme, while a Realtor says his town has no business participating in the plan.
<watch video>

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