COFI Bounces Off Record Low
Just a month after falling to an all-time low, the Cost of Funds Index edged higher. A competing index, however, has since move significantly lower.
PHH Production Picks Up
Quarterly residential loan originations at PHH Mortgage were better than the prior period and are poised to continue rising. The servicing portfolio expanded by more than a quarter.
New Business Slows at Fannie
Monthly secondary marketing activity at the Federal National Mortgage Association turned lower. Serious residential delinquency, however, fell to the lowest level in more than four years.
Senate Committee Approves FHA Bill
A proposed law that would strengthen the Federal Housing Administration has made it out of a U.S. Senate committee -- a development that was lauded by mortgage bankers.
5-Year High for New Mortgage Insurance Activity
Despite a decline in the number of new mortgage insurance policies issued last month, the dollar volume of home loans insured reached the highest level in five years. But new business appears headed lower, and defaults deteriorated.
Radian Cuts M.I. Premiums
Mortgage insurer Radian Guaranty Inc. announced that it has reduced mortgage insurance premiums for a number of different scenarios.
Number of Active LOs Declines
The number of registered loan originators fell by 2 percent during the most-recent three-month period. Although the count was down just 1 percent at banks and credit unions-- a steeper 6 percent drop hit non-bank originators.
Staffing, Production Grows at PrimeLending
A larger staff was reported by PrimeLending, which also said that it increased mortgage production during the second quarter.
Commercial Mortgage Production Rises
Mortgage bankers that originate commercial real estate loans pushed up quarterly loan volume by more than a third. Life insurers led the gain, while hotel loan production was up more than any other property type.
Dallas, Denver Home Prices at Record High
All home price indices leave no doubt that U.S. home prices are on a solid trajectory up. Property values in the cities of Dallas and Denver originally reached their highest levels on record between six and seven years ago, but those records have now been broken.
Serious Delinquency, Foreclosure Rates Retreat
Seriously delinquent mortgages accounted for a smaller share of outstanding home loans last month. As foreclosure activity continued to retreat, states that require foreclosures to be handled through courts carried the worst foreclosure rates.
Distressed GA Counties Pile on Lawsuits Against GSEs
Counties in the state of Georgia that are still spending far more than they take in are hoping that lawsuits against Fannie Mae and Freddie Mac will help them make up the shortfall. Some counties are also alleging predatory lending by primary mortgage lenders in an effort to cash in.
Jumbo Originator Closing Wholesale Channel
A mortgage lender that has originated jumbo mortgages for several recent issuances of private-label securities has disclosed plans to stop accepting business from mortgage brokers. More than a hundred jobs are impacted by the decision.
Substantial Improvement in REMN Production
New business was up nearly a fourth at Real Estate Mortgage Network Inc. Also growing were the company's mortgage servicing portfolio and staffing.
McLean Mortgage Lifts Originations and Staffing
Quarterly home loan production at McLean Mortgage Corp. jumped by nearly a quarter. Staffing, meanwhile, continued to expand.
New CMBS Defaults Ease
The volume of securitized commercial real estate loans that defaulted in the second quarter retreated, though deterioration was noted with loans secured by office buildings.
Mortgage Business Grows at HomeStreet
New mortgage business improved at HomeStreet Inc. and appears to be headed even higher thanks to a new emphasis on purchase production. But despite increased originations and an expanding servicing portfolio, mortgage earnings were weaker.
Freedom Among Top VA Originators
Freedom Mortgage Corp. claims it has been ranked among the nation's biggest originators of loans that are guaranteed by the Department of Veterans Affairs. But an excessively high refinance share at the company threatens to hurt its overall business.
Credit Conditions Continue to Thaw
|FHA Leads Decline in Weekly Mortgage Activity
Government activity led a decline in new mortgage business this week. Compared to last year, purchase financing has increased by the same rate that refinances have spiraled down. Jumbo pricing continued to improve versus conforming business.
Serious delinquency has declined over the past year. At the same time, more homeowners are taking out credit lines against their residences. Rising home prices are supporting improved credit conditions.
Genworth Updates Rates, Guidelines
Updated guidelines issued by Genworth Mortgage Insurance Corp. impact maximum loan-to-value ratios, maximum debt-to-income ratios and minimum credit scores. In addition, mortgage insurance premiums have been updated.
Quicken Growth Slows
After shattering prior production and staffing records in the first quarter, activity slowed at Quicken Loans Inc. Still, production has substantially increased and headcount has nearly doubled compared to year-earlier levels, while the mortgage servicing portfolio continued to expand.
Non-Agency RMBS Benefit from Q1 Conditions
Market conditions during the first three months of this year had a positive impact on the value of private-label residential mortgage-backed securities.
Regions' Originations Up
Despite a rise in quarterly residential originations at Regions Financial Corp., mortgage income was lower. The rate of past-due payments on residential loans improved, but home-equity delinquency deteriorated.
New American Funding's Mortgage Production Increases
Home loan originations increased at New American Funding in the second quarter, while the mortgage servicing portfolio expanded.
Wells Fargo Exiting Mortgage Joint Ventures
Wells Fargo & Co. said it will withdraw from more than a half dozen joint ventures in a move that will impact hundreds of employees.
Mortgage Rates Dip But Look to Be Headed Higher
Interest rates on home loans were lower for the second consecutive week, but the outlook is for an ongoing increase.
Wholesaler Handing Out Free Mortgage Leads
A fast-growing wholesale lender has unveiled a new program that rewards its mortgage broker customers with free mortgage leads.
Refi Volume Falls to Lowest Level Since Last Year
The impact of rising rates has begun to show up in mortgage originations, with monthly refinancing activity slowing to the lowest level since last year. Government-supported refinance production has also taken a hit.
Healthcare, Industrial Help CMBS Delinquency Decline
Past-due payments on securitized commercial real estate loans were lower last month and have plummeted by more than 200 basis points over the past year. The decline in delinquency was helped along by big improvements on loans secured by healthcare and industrial properties.
Mortgage Bankers Lift Purchase Financing Forecast
Interest rates might be on the rise, but that didn't stop mortgage bankers from raising their outlook for this year's residential loan originations. A lower forecast for refinances was more than offset by raised expectations for purchase financing.
Retreating Refis Lead to Layoffs at Florida Firm
Just a month after settling allegations that it used illegal telephone calls and deceptive advertising to generate government mortgage originations, a Florida firm is laying off hundreds of employees. Falling refinance activity was blamed for the job cuts.
Solid Month at Freddie Mac
New business increased, the total mortgage portfolio grew and residential delinquency declined last month at the Federal Home Loan Mortgage Corp.
Early-Stage Mortgage Delinquency Soars
Past-due payments on mortgages spiked last month, though the deterioration was attributed to seasonal factors. The rate of foreclosures, however, was lower.
Fremont Reduces Mortgage Staff
Residential loan production mostly held up last quarter at Fremont Bank. The bank, however, scaled back on its mortgage staffing.
Gains in Guaranteed Production, Staffing
The quarterly volume of new mortgage fundings at Guaranteed Rate Inc. climbed, as did the number of people employed at the firm. Even the mortgage servicing portfolio grew larger.
Originations, Servicing Portfolio Decline at Flagstar
The volume of home loans and the mortgage servicing portfolio were both down in the second quarter at Flagstar Bancorp Inc. But the number of mortgage sales jobs moved higher.
First LO Comp Rule Lawsuit Filed
The country's regulator of financial products for consumers has filed a lawsuit against a mortgage banker that, it claims, paid originators incentives to steer borrowers into higher-priced loans.
Many Completed HAMPs Re-defaulting
Hundreds of millions of dollars have been paid out by the government for mortgages that were modified through the federal loan modification program and later became delinquent again.
Loan Trading Platform Launches
An online platform to buy and sell home loans has been unveiled. The new product promises to eliminate inefficiencies.
Multiple CMBS Issuances Backed By Hotel Loans
Hotel properties are securing loans included in multiple recent commercial mortgage-backed securities transactions. Multifamily and office property loans are also being securitized.
Several Jumbo RMBS Deals Issued
New residential mortgage-backed securities backed by jumbo home loans from three different issuers have been announced in the last two months.
Churchill Fundings Slow as Staff Grows
Quarterly mortgage originations were lower at Churchill Mortgage. Staffing, however, increased, and the company reported that it has now accumulated a small residential servicing portfolio.
Mortgage Firms Continue Building Management Teams
Several mortgage firms have recently filled executive level positions from within, though some recruited from other companies. The recent appointments include positions in residential, reverse and commercial mortgage lending. One California-based company witnessed an executive resignation.
Retail Originations Sink at Provident
An uptick in quarterly correspondent lending wasn't enough to offset a nearly one-half decline in retail mortgage originations at Provident Funding Associates LP. The mortgage lender added more employees.
FHA Lags GSEs in REO Disposition
A new government report indicates that the Federal Housing Administration is doing a worse job disposing of real-estate-owned properties than Fannie Mae and Freddie Mac.
PRMI Production Improves
Quarterly mortgage originations at Primary Residential Mortgage Inc. increased, and the company managed to lift volume with fewer employees.
Refi Forecast Cut Nearly $100 Billion
Nearly $100 billion has been lopped off of this year's forecast for refinance originations, and next year's outlook was also trimmed.
Hundreds of Mortgage Jobs Being Cut by Wells Fargo
Falling demand for mortgage refinances has Wells Fargo Home Mortgage eliminating hundreds of production positions across the country.
Eminent Domain Bill Re-introduced
Federal legislation that was introduced nearly a year ago to discourage local governments' attempts to seize negative-equity loans included in private-label residential mortgage-backed securities has been reintroduced.
3-Year High for SunTrust Mortgage Production
Home loan originations at SunTrust Banks Inc. climbed to the highest level in three years, while residential delinquency improved, new repurchase demands fell and mortgage production income rose. Servicing income was lower, however, and commercial mortgage delinquency was worse.
Fifth Third Wins Dismissal in Federal M.I. Lawsuit
A one-year-old federal lawsuit against Fifth Third Bank over alleged illegal kickbacks from mortgage insurance companies has been thrown out.
UBS Settles RMBS Lawsuit With FHFA
Two years after being sued by the Federal Housing Finance Agency for allegedly misrepresenting the quality of home loans backing private-label securities sold to Fannie Mae and Freddie Mac, UBS has agreed to a settlement.
Financial Institution Failures Rise
Thanks to a jump in bank failures and a continued worsening trend in the credit union sector, quarterly mortgage-related casualties rose to the highest level in a year. The forecast is for a decline in bank failures and an increase in credit union and non-bank closings.
3 Biggest Compliance Problems
The three biggest mortgage compliance problems on the production side have been outlined in a new report. Progress is being made with most of the deficiencies.
Record BB&T Mortgage Originations
|Jumbo Business Better
With the premium for a jumbo loan having fallen by more than half from a year ago, new jumbo business was up even as conforming activity was flat. The best year-over-year performance this week was delivered by purchase transactions, though adjustable-rate mortgages were close behind.
When it comes to residential mortgage production, business has never been so good at BB&T Corp. It was the same story for quarterly earnings. In addition, the servicing portfolio grew larger and delinquency was lower.
New Record for Fifth Third Mortgage Originations
For the second consecutive quarter, home loan fundings at Fifth Third Bancorp reached an all-time high. The servicing portfolio grew, delinquency declined and earnings increased.
FHFA Director Nominee 1 Step Closer to Confirmation
President Obama's controversial choice to head the regulator of Fannie Mae and Freddie Mac has moved forward in the senate confirmation process.
CMBS 2.0 Underwriting Loosens
Conduit underwriting quality on commercial real estate loans is now at pre-crisis levels, according to a new ratings agency report. Another development is the rise of non-agency multifamily issuance.
Business Inches Higher at USA Mortgage
Quarterly home loan originations at USA Mortgage moved higher thanks to stronger retail volume. In addition, staffing continued to expand.
Falling Mortgage Rates Unlikely to Increase Soon
Fixed mortgage rates were lower this week after surging in the last report. A weak economic recovery is likely to keep rates from jumping in the near term, though the longer term outlook is for a gradual rise.
Refi Layoffs at Citi
A drop in the volume of refinances is prompting Citigroup Inc. to shutter a facility in Illinois and lay off more than a hundred employees.
Jumbo Originations On the Rise
Jumbo mortgage production, which took a hit during the housing crisis, is once again on the rise. In addition, spreads between interest rates on jumbo and conforming loans are falling.
Hundreds Being Laid Off at Flagstar
A decision by Flagstar Bancorp Inc. to exit its distressed servicing business is expected to result in hundreds of jobs cuts.
Turnaround Slows as Closing Rate Rises
A bigger share of mortgage loan applications closed last month, though it took longer to complete the process. Meanwhile, lenders were less restrictive with their loan approvals.
Fastest Growing Servicers Rank Worst in 2013 Study
While mortgage servicers as a group have improved overall customer satisfaction, a pair of the fastest-growing servicers in the country landed at the bottom of the new ranking.
United Shore Reports Strong Wholesale Production
Thanks to a jump in mortgage broker business, United Shore Financial Services LLC reported a healthy quarterly gain in residential loan originations. On a year-over-year basis, production has more than doubled.
Originations Up at PNC
Home loan production and delinquency improved at The PNC Financial Services Group Inc. But the company cut its residential servicing portfolio and mortgage holdings.
Weak Quarter at U.S. Bancorp
Residential originations slowed at U.S. Bancorp, while delinquency crept higher and earnings diminished. But the servicing portfolio expanded.
QE Wind Could Be Delayed Depending on Conditions
The head of the Federal Reserve is telling Congress that the nation's central bank could delay its gradual exit from its massive bond-buying program depending on economic conditions.
BofA Servicing Portfolio Down Over Half Past 3 Yrs
The total mortgage servicing portfolio at Bank of America Corp., which exceeded $2 trillion three years ago, has fallen below $1 trillion. But the banking behemoth managed to raise residential originations and improve mortgage earnings from the prior quarter.
Cordray Confirmed as CFPB Director
Following a controversial recess appointment by President Obama, the director of the Consumer Financial Protection Bureau has been confirmed by the Senate.
BofA Cutting Florida Production Jobs
Several dozen employees in Central Florida are being laid off by Bank of America Corp. The impacted jobs are on loan production.
Cole Taylor Mortgage Could Be for Sale
Less than two months after announcing that it is expanding its mortgage servicing platform, Cole Taylor Mortgage might be up for sale.
Loan Modification Activity Rises
The monthly volume of completed loan modifications moved higher, with government supported loan modifications responsible for much of the gain.
Biggest Credit Union Mortgage Lenders
A new report ranks the country's credit unions by the volume of first mortgage loans that were originated last year.
Mortgage Broker Trading Platform Launches
A newly launched service for mortgage brokers and wholesale lenders promises to be the LendingTree of wholesale lending.
Legislation Would Strengthen FHA
New legislation being discussed in the Senate would raise the caps on Federal Housing Administration mortgage insurance premiums, impose Qualified Mortgage standards on FHA-insured loans and expand the scope of indemnification and mortgagee termination. Also impacted would be federally insured reverse mortgages.
New Lows for Serious Mortgage Delinquency
Serious delinquency on first mortgages fell to the lowest level since the recession ended, while the second-mortgage rate dropped to an the lowest level on record.
Freddie Cuts Purchase Projection
The latest economic forecast from the Federal Home Loan Mortgage Corp. has a lower outlook for the nation's home purchase financing this year. However, an increase in expected refinances will make up the difference.
Broker Business Boosts Stearns Production
Thanks to a little help from its mortgage broker clients, Stearns Lending Inc. boosted quarterly new business. An even bigger gain was made with the mortgage servicing portfolio. Also increasing at a healthy clip was staffing.
PennyMac Scores $200 Mil Line
A new $200 million line of credit for PennyMac Financial Services Inc. will enable the firm to finance more loan purchases.
BofA Says Fired Employees Made Wild Misrepresentations
Statements in a lawsuit from fired Bank of America Corp. employees included "wild misrepresentations" about their actual roles in the Home Affordable Modification Program, the bank said in its own court filing.
Citi Originations Down
Quarterly home loan production slowed at Citigroup Inc., and the current quarter is on track for a further decline. While mortgage assets and servicing continue to be slashed at Citi Holdings, the servicing portfolio grew within continuing operations.
Fast-Growing Lender Sued for Skirting State Laws
|HAMP Players Shuffled
As mortgage servicing rights on hundreds of billions of dollars in residential mortgages change hands, a shift is occurring with the players in the government's loan modification program.
A rapidly growing mortgage lender operating from California has been sued by Minnesota officials because it is allegedly hiding behind tribal sovereign immunity to avoid complying with state laws on consumer lending.
Another HAMP Lawsuit Filed Against BofA
Statements made by former Bank of America Corp. employees in a federal lawsuit that was filed in Massachusetts have prompted another federal lawsuit in Colorado against the banking giant alleging violations of the Racketeer Influenced and Corrupt Organizations Act. At issue is BofA's handling of requests for loan modifications.
House Republicans Consider Complete GSE Wind Down
A congressman from Texas has floated a plan that would liquidate Fannie Mae and Freddie Mac and significantly cut the government's role in home lending -- even during a crisis. Mortgage bankers worry about entirely eliminating a government backstop.
Originations Hold at Wells Fargo
After tumbling in the first quarter, home-loan production at Wells Fargo & Co. managed a small gain. The firm also maintained its mortgage investment portfolio.
Chase Mortgage Originations Down, Outlook Challenged
Although new loan applications increased during the latest quarter at JPMorgan Chase & Co., actual loan closings slowed and the company warned about the potential impact of sustained higher interest rates on its mortgage earnings.
Fixed Mortgage Rates Surge But Could Retreat
As financial markets reacted to concern that the central bank might start pulling back on its purchases of Treasury bonds and mortgage-backed securities, mortgage rates surged. But comments yesterday helped to put the markets at ease.
New Index Points to Slower New Home Sales
A new survey has been created to provide an early gauge for upcoming new home purchases. The first report points to a summer slowdown.
Ginnie Issuance Remains Elevated
Issuers of mortgage-backed securities that are guaranteed by the Government National Mortgage Association maintained an elevated level of activity last month thanks to a bump in multifamily business.
Multifamily Issuance Off at Fannie
Quarterly securitization volume for commercial real estate loans backed by apartment properties and guaranteed by the Federal National Mortgage Association slowed -- though year-to-date activity increased from the same period in 2012.
AMC Recognizes Top Appraisers
An appraisal management company that operates from the state of New York has identified its top real estate appraisers. The elite group of home valuation experts were recently recognized at a Las Vegas convention.
Final Rule Clarifies QM
Exemptions Proposed for Higher Priced Loan Appraisal Rule
A final rule released this week addresses concerns about the qualified mortgage designation, servicing requirements and higher-priced lending.
Federal regulators have proposed exemptions to a final rule issued earlier this year on appraisals for higher-priced loans. The rule becomes effective in six months.
Mortgage Master Staffing Up as Originations Drop
The first report of second quarter mortgage originations was delivered by Mortgage Master Inc., and business has diminished from the first three months of 2013. But staffing expanded at the company.
8th Circuit Rules on Ark Non-Judicial Foreclosures
A federal appeals court in Arkansas has issued a decision in a consolidated case involving the ability of national banking associations to utilize the non-judicial foreclosure process in the state.
Florida Looks to Streamline Foreclosure Process
More than $20 million was made available this month to streamline Florida's foreclosure process, and the state's supreme court has ordered the judiciary to attend a crash course in foreclosure law in an effort to reduce a backlog.
HEL Delinquency Improves, HELOCs Deteriorate
Like overall consumer credit, closed-end home-equity mortgages performed better in June. But the share of late payments on open-end mortgages rose.
Cashouts Lead Uptick in Credit Availability
Cashout lending was one of the factors behind eased mortgage lending standards last month, continuing a trend started earlier this year. Lending has barely thawed, however, from pre-crisis levels.
Serious Delinquency at Lowest Level Since 2008
Despite an uptick in the number of completed foreclosures, the rate of serious delinquency on residential home loans fell to its lowest level since 2008. Florida and New Jersey continue to be problem states.
Best Month in Years at Radian
It has been years since new business and loan performance have both been this good at Radian Guaranty Inc.
MGIC Maintains Optimal Performance
New business written by MGIC Guaranty Insurance Corp. is buzzing along at the fastest clip in at least three years, and delinquent policies are at the lowest level in at least three years.
Chase Counsel in Hot Water
JP Morgan Chase Bank, N.A., and its counsel will face a hearing about whether they engaged in frivolous conduct when attorneys "falsely" claimed for nearly two years that Chase was the owner of a mortgage and note, according to a decision from a New York state judge.
How to Get a Warehouse Line
As the housing finance agencies and warehouse lenders have gravitated towards stricter approval requirements, one warehouse lender says it is taking a different approach and has some advice for mortgage bankers.
Dodd Frank Compliance Guide
A new guide aims to help mortgage lenders comply with an array of new rules emanating from the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.
High HARP Activity Continues
The latest report on the government's refinance program showed sustained activity, and even newer data suggest three more months of continued strength.
Wholesaler Providing Free Processing
A wholesale mortgage lender hopes to capture a bigger share of the mortgage broker market by providing free loan processing services.
New Mortgage Business Tumbles in Holiday Week
Pricing inquiries for refinance transactions led an overall decline in mortgage activity during the Independence Day holiday week, though adjustable-rate activity was down nearly as much. Mortgage rates eased but are likely to surge in the next report.
PA Towns Battle Lenders on Unrecorded REO Transfers
Several towns in Pennsylvania say lenders are delaying the transfer of title on foreclosed properties in order to avoid maintenance liability and transfer filing fees, and some have taken steps to prevent such tactics.
Nearly 3-Year Low for CMBS Delinquency
It has been nearly three years since the rate of delinquency on securitized commercial real estate loans has been as low as it was last month. The biggest improvement was made with industrial properties. However, rising interest rates could impair improving performance.
U.S. Bankruptcies Plunge
While bankruptcy filings had already been trending lower, new activity at U.S. bankruptcy courts plummeted last month for both consumers and businesses.
United Guaranty Eases FL Condo Restrictions
Improving conditions in the Sunshine State's real estate market have prompted at least one mortgage insurance company to ease lending requirements in the state.
Rates Leap on Jobs Data
The latest data on mortgage jobs was weak, with employment in the sector falling. But across all industries, employment expanded -- driving up already high rates.
Rates Take Back Some of Gains But Remain Volatile
Last week's spike in mortgage rates was partially offset by a nice improvement this week, and the outlook is for more of the same. However, an upcoming employment report remains a wild card.
Mortgage Bankers Win Appeal in LO OT Case
A federal appeals court has ruled that conflicting government interpretations on overtime compensation requirements for mortgage loan originators need to be resolved through the formal rulemaking process.
Fortress Unit Sued
After losing its top executive and more than five dozen employees, a lender with its headquarters in North Carolina has filed a lawsuit against a mortgage subsidiary of Fortress Investment Group.
Ocwen Subsidiary Biggest HECM Producer in June
Government-insured reverse mortgage production edged higher last month. Ocwen Financial Corp.'s reverse lending unit made its way to the top originator's spot.
Pre-Crisis RMBS Not Out Of Woods Yet
Despite a strengthening U.S. real estate market, residential mortgage-backed securities issued prior to the financial crisis still face risks.
Fannie Provides Additional Info on QM Requirements
Fannie Mae issued a lender letter that provides more details about its requirements for the Qualified Mortgage and Ability-to-Repay rule.
Fed Adopts Stiffer Capital Requirements
Tougher capital rules for banks have been adopted by the Federal Reserve, though smaller banks got a break from the central banker.
Broker License Suspended for Son of Late NV Gov
After determining that a Nevada mortgage brokerage was millions of dollars in the red, the license of the owner -- who is also the son of a deceased Nevada governor -- was suspended.
Some of Best Mortgage Employers Recruiting
Many of the hundreds of currently open positions at mortgage-related firms are at companies that have been recognized as some of the best employers in their cities. Jobs are available in origination, production and technology.
IPO for Fast Growing Lender
Less than two months after tapping private investors for more than $100 million, a rapidly growing lender in Indiana now plans to go public.
Servicer Licensing Required in Hawaii
New licensing requirements in the Aloha State impact companies that perform servicing duties as well as mortgage servicers with loan originators that handle loan modifications.
Several States Eliminate Separate SAFE Testing
Mortgage loan originators in several states are no longer required to take a separate state and federal licensing test.
4th Straight Decline for MTA
A lag in the movement of the Monthly Treasury Average has the index still on the decline even as Treasury yields have been on the rise.
Citi Settles Repurchase Liability With Fannie
A huge settlement reached between Citigroup Inc. and the Federal National Mortgage Association will relieve the lender of repurchase liability on millions of home loans.
Former BofA Employees Allege HAMPs Denied En Masse
Former Bank of America Corp. employees have made statements in a federal lawsuit that they were rewarded for denying loan modifications -- prompting the monitor of the multi-state servicer settlement to review the case.
Fannie Drives Agency MBS Issuance Down
A decline in business last month at the Federal National Mortgage Association more than offset an improvement at the Federal Home Loan Mortgage Corp.