Most lenders welcome mortgage technology and innovation, but they are divided when it comes to embracing Uber-like industry-wide disruptions, according to new research from Fannie Mae’s Economic & Strategic Research Group. “Today’s consumers access myriad products and services via digital platforms that make it more efficient, simple and pleasant to conduct their business,” said Katrina Jones, vice president of single-family business solutions at ...

Mortgage industry trade groups filed a brief last week asking the Supreme Court of the United States to take up a case involving fees charged by Connecticut aimed at mortgage recordings by Mortgage Electronic Registration Systems. In February, Connecticut’s Supreme Court upheld fees imposed by the state in 2013 that tripled charges for mortgages recorded with MERS compared with non-MERS recording fees in the case of MERSCORP Holdings v. Dannel Malloy. In the new brief, industry participants caution...

The new bill signed by President Obama should make condo lending a little easier...

Lenders originating agency mortgages are seeing plenty of demand in the secondary market, according to panelists at the California Mortgage Bankers Association’s Western Secondary Market Conference this week in San Francisco. “Capital is searching for a home,” said Rob Branthover, a managing director at Mortgage Industry Advisory Corp. He noted that many investors are focusing on agency mortgages. Mike Duncan, a senior hedge manager at Compass Analytics, said...

Fannie Mae recently updated its loan production estimates. The GSE projects $1.78 trillion in originations this year and $1.55 trillion next year.

Nonprime lender Angel Oak Mortgage Solutions is now offering a “no-income” loan to investors with credit scores as low as 660...

Lenders operating in the consumer-direct channel have a distinct opportunity to use technology to improve the mortgage experience for borrowers, according to findings from the Strategic Mortgage Finance Group. Garth Graham, a senior partner at the firm more commonly referred to as Stratmor, detailed the findings in a new publication from the mortgage-industry consulting firm. The Stratmor executive suggested that consumer-direct lenders should work with technology that ...

Former New Jersey politician John Leadbeater worked out a plea arrangement with prosecutors.

The eventual goal of the project is to have the GSEs issue fully interchangeable securities.

Verizon Wireless is preparing to package the payment plans on more than 3.09 million cell phones into an ABS, marking the first time an ABS in the U.S. will be backed by such collateral. The planned $1.17 billion Verizon Owner Trust 2016-1 received preliminary AAA ratings from Fitch Ratings and Standard & Poor’s. “It’s the most interesting type of consumer ABS product we’ve seen in a long time,” said Darrell Wheeler, head of research for global structured finance at S&P. “And obviously, with the amount of phones in the market today, it has a lot of potential.” Analysts at Moody’s Investors Service noted...