Congress on Thursday passed a stopgap-spending bill to prevent a potential government shutdown and to give lawmakers time to negotiate crucial issues. The House voted 235-193 to pass the measure. A short time later, the Senate quickly approved it 81-14. The temporary spending bill will keep the government running through Dec. 22. The continuing resolution or CR, that has kept the government open would have expired on Dec. 8. Both the House and Senate are scheduled to adjourn on Dec. 15. Congress will need to pass a final appropriations bill or another continuing resolution to keep the government operating after Dec. 22. Despite differences over tax reform, FY 2018 budget, immigration, health care and other issues, lawmakers do not want a shutdown, mortgage industry sources said. Republicans, in particular, hope to enact their $1.5 trillion tax package by Christmas. On the other hand, ...

VA posted an 11.6 percent increase in originations in the third quarter, reversing a downward slide that began in early 2017. VA lenders ended the period with $45.5 billion in new originations, up from $40.8 billion in the previous quarter. The nine-month VA volume totaled $129.1 billion with purchase mortgages providing a strong boost. Streamlined refinancing, or Interest Rate Reduction Refinance Loans, accounted for 16.8 percent of VA loans originated and securitized during the nine-month period. The top five VA lenders in sequential order – USAA, Veterans United Home Loans, Quicken Loans, Navy Federal Credit Union and Freedom Mortgage – ended the third quarter with a combined $11.05 billion in originations and a 24.7 percent share of the market. Top-ranked USAA reported a 17.0 percent drop in VA lending in the third quarter from the previous quarter. Over the nine-month period, it racked up ... [charts]

Agency MBS data indicate that first-time buyers have been key to this year’s surge in purchase-mortgage activity...

Can it be? A bi-partisan reg relief measure that helps the mortgage industry?

Servicing income rose 1.5 percent during the third quarter, although five of the 12 companies reported declines and one of them – PHH Mortgage – posted a loss.

The investor was also critical of HomeStreet’s efforts to expand its footprint beyond the Pacific Northwest…

Sen. Elizabeth Warren wants a complete list of OMB staffers who have been detailed to the CFPB by Mulvaney...

The FHFA said it’s working with Fannie and Freddie to “develop processes to identify and align those enterprise programs, policies, and practices that could materially affect prepayments.”

Wells Fargo reported a huge drop in mortgage banking income, but the rest of the top five banks all posted increased earnings from their operations…

The MSR-saving amendment fixing the tax language was offered by Sen. Mike Rounds, R-SD...