George Mason University real estate professor Anthony Sanders, a former head of asset-backed and mortgage-backed securities research at Deutsche Bank, took issue this week with a recent report from the Urban Institute which suggested that residential mortgage credit is still too tight because there are 4 million fewer mortgages originated this year than in 2001, before the housing bubble.

Strong purchase lending to military personnel and first-time homebuyers allowed Navy Federal Credit Union to exceed the $1 billion mark in March, the best month in the credit union’s history.

Carrington Mortgage Services announced on Tuesday that it will offer the FHA 203k Full loan program through its national wholesale lending division, which should be especially attractive for first-time homebuyers purchasing a “fixer-upper.”

Despite the drought, a Fannie spokesman issued a statement saying, “Bank of America continues to be an important seller-servicer for Fannie Mae, including servicing a sizable book of loans that we own.”

The Irvine-based Citadel continues to ramp up its staff and hopes to hire another 15 to 20 workers by the end of June.

Once again, consumer criticisms about residential mortgages led the decline in both timeframes.

The replenishment rate is calculated by dividing servicing outstanding by annual production volume.

In the end, the residential originator is ceding less authority to the closing agent...

Although Fannie Mae is poised to begin auctioning off some of its nonperforming mortgages, the market continues to be dominated by smaller deals.

According to the FHLB-NY, a limited number of investors – and members – have been approved for the pilot.