Michigan Mutual is the latest mortgage lender to announce cut-backs in its processing staff.

The mortgage industry is feeling immense pressure of implementing the avalanche of new rules from the Consumer Financial Protection Bureau.

Purchase-money lending increased by a hefty 37 percent, climbing to an estimated $163 billion in the second quarter, according to figures compiled by Inside Mortgage Finance.

Some trade groups, including the California Mortgage Bankers Association and National Association of Realtors are not happy with the idea of lower loan limits.

Borrowers are given the option to either make a single, lump sum draw for adjustable and fixed-rate HECMs at closing or within the 12-month period after the loan closing.

The government is seeking due diligence reviews performed by Clayton, as well as all communication between the clients for whom the company performed such work.

With origination profits leveling off, some mortgage bankers are looking to cash out. But can they still get top dollar?

Carrington Mortgage is in the market to buy residential servicing rights. Meanwhile, the mortgage application losing streak has ended.

America’s Homeowner Alliance said it will defend low downpayment loans and the mortgage interest deduction.

Purchase mortgages accounted for 39 percent of the loans included in the new Credit Suisse jumbo MBS deal. The weighted-average combined LTV was 71 percent.