Mortgage Banker CEO Sentenced to Prison
The former owner and chief of a New York mortgage banker has been sentenced to more than a dozen years in prison for selling fraudulent loans on the secondary market.
Freddie's New Business Sinks to 12-Month Low
It's been a year since secondary activity was this low at the Federal Home Loan Mortgage Corp. Delinquency, meanwhile, fell to a new post-crisis low.
Approvals Automated for Nontraditional Credit
Loan applicants who don't have a traditional credit scores will soon be able to obtain automated approvals using nontraditional credit.
GSEs Move 1 Step Closer to Common Security
Following the successful implementation of the first phase of a common mortgage-backed security, the government-sponsored enterprises are moving on to phase 2.
Secondary Gains Hurt Mortgage Production Income
Earnings at independent mortgage banking firms plummeted more than 50 basis points on a quarter-over-quarter basis. Secondary marketing gains and expenses hurt income.
GSE Reform Could Significantly Impact Home Finance
A ratings agency report indicates that reforming the government-sponsored enterprises could have wide-reaching implications for a range of sectors and entities.
Freddie Unloads Nonperforming Mortgages
A portfolio of deeply delinquent residential loans has been sold through the auction process by the Federal Home Loan Mortgage Corp.
Over $3 Billion in Fannie Mae Loan Sales
A pair of transactions, one a closed sale and the other a loan offering, include more than $3 billion in Federal National Mortgage Association loans.
Non-Bank Issuer Growth Strains Ginnie Resources
A watchdog report indicates that the Government National Mortgage Association's resources are being strained by the increase in non-bank issuers.
Ginnie Mae MBS Issuance Tumbles to 11-Month Low
It's been almost a year since securitizations at the Government National Mortgage Association were as slow as they were last month.