Department of Housing and Urban Development Secretary Julian Castro defended a key provision in the administration’s FY 2016 budget proposal that would allow the FHA to assess lenders an administrative fee to fund improvements in the loan origination and servicing processes. At a HUD budget hearing this week before the House Appropriations Committee’s Subcommittee on Transportation, HUD and Related Agencies, Castro said the proposed fee would be used for risk management and technological improvements and in establishing quality-assurance policies to help lenders originate more FHA loans without fear of regulatory action or litigation. Castro responded...

Kevin Watters said Chase has reduced its mortgage staffing levels due to declines in originations and improvements in mortgage performance.

Last year, House appropriators turned down a request that would have allowed the FHA to charge a fee of 2 to 4 basis points to lenders prospectively...

Experian led the pack in terms of complaints with a cumulative total of 15,847.

One of the biggest knocks on PHH Mortgage is that it has little in the way of traditional retail, relying instead on private label partners like Merrill Lynch.

A veteran of Bank of America, GE Capital and other financial service firms, Williams said he hopes to unveil 10 Mile’s first investment in April.

The only thing bothering most warehouse managers is how long the good times can last.

KBRA said its loss model is highly sensitive to the increased probability of default associated with mortgages that have high combined LTV ratios.

In recent years, Redwood has focused on jumbo mortgages but the REIT is now placing a greater emphasis on conforming loans.

Fed chief Janet Yellen also signaled a continuation of the status quo for interest rates...