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Mortgage Origination Volume Held Steady in 2Q13

July 30, 2013
John Bancroft
Mortgage production volume remained steady in the second quarter amid a growing purchase-mortgage market.
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FHLBank Earnings Increase During First Six Months of 2013

July 30, 2013
Charles Wisniowski
Combined net income for the 12 Federal Home Loan Banks jumped during the first six months of 2013.
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Vitter Directs FHA to Submit Key Solvency Docs

July 30, 2013
George Brooks
Sen. Vitter seeks documents from the FHA.
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Short Takes: Fannie SVP Touts GSE’s Whole-Loan Conduit Issuance/ Senate Committee to Mark Up FHA Bill/ Ruling Due Soon on CFPB’s Motion to Dismiss Cordray Challenge Lawsuit

July 30, 2013
Thomas Ressler and Charles Wisniowski
A Fannie SVP noted that the GSE's whole-loan conduit allowed 1,100 lenders to deliver loans to Fannie for cash in 2012.
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Senate Likely to Take Up Mortgage Issues this Week

July 29, 2013
Brandon Ivey
The Senate appears likely to vote on a number of mortgage-related issues this week.
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Merkley Introduces Bills to Expand HARP, Again

July 29, 2013
Charles Wisniowski
Sen. Jeff Merkley, D-OR, is continuing his pursuit to expand the Home Affordable Refinance Program to non-agency borrowers.
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House Panel Passes Measure That Would Override CFPB Rules

July 29, 2013
Thomas Ressler
The House committee again approved legislation taking aim at mortgage rules established by the Consumer Financial Protection Bureau.
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Unidentified Lenders Account For Growing Share of Jumbo MBS

July 29, 2013
Brandon Ivey
Small, unidentified lenders are accounting for an increasing share of contributions to non-agency jumbo mortgage-backed securities.
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Short Takes: Freddie CFO Stresses GSE's 'True Value' / Fortress Fund Seeks MSRs / Whole Loan Purchase / New Policy Advisor at ASF

July 29, 2013
Brandon Ivey
Freddie Mac's CFO said the "true value" provided by the government-sponsored enterprises isn't billions of dollars in profits. Meanwhile, firms continue to pursue mortgage servicing rights.
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Bureau Sues Firm for ‘Upselling’ Mortgages, Giving Bonuses to LOs

July 29, 2013
The CFPB filed a civil suit last week against Castle & Cooke Mortgage and two top executives, accusing the Utah-based nonbank of illegally giving bonuses to loan officers who steered consumers into mortgages with higher interest rates. Overall, the firm paid 500 quarterly bonuses – roughly $4 million in compensation – to its retail loan officers, based on a compensation structure that rewarded them for bringing in mortgages at higher note rates, the government charges.In its suit, filed in U.S. District Court for the Central District...
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