Paul Muolo

Fannie Mae and Freddie Mac purchased nearly $267 billion in nonperforming loans out of mortgage-backed securitization pools during the first half of the year, a figure that potentially could lead to massive foreclosures down the road if the government-sponsored enterprises cannot rework these problem loans.

Wealthbridge Mortgage Corp. in Beaverton, Ore., will close its doors and lay off staff after a deal to sell the nonbank lender fell apart.

Lewis Ranieri says in a new letter to Congress that a national 'rent-to-own' program could help alleviate the national foreclosure crisis.

Wealthbridge Mortgage of Beaverton, Ore., will close its doors and lay off staff after a deal to sell the nonbank lender fell apart.

Connecticut Attorney General Richard Blumenthal has asked Ally Financial to freeze all home foreclosures within its borders.

Warehouse lending conditions continued to improve in the second quarter; commitment volumes rose for most players — thanks in large part to a mini-refinancing wave.

Senate Banking Committee chairman Chris Dodd is trying to secure a one-year extension of the $729,750 GSE loan limit.

The investor Wilbur Ross has agreed to invest several million dollars in Capital Markets Cooperative, a company that caters to depositories and nonbank residential lenders.

Prestwick Mortgage Group is selling a $197 million package of residential servicing rights tied to Georgia loans guaranteed by Fannie Mae and Freddie Mac.

The total dollar amount of outstanding subprime loans was $714 billion at June 30, a 45% decline from the peak in 2007, according to recent figures.

Although no one expects that home builders are poised for a significant boom anytime soon, it now appears their mortgage banking divisions have turned the corner.

The Government National Mortgage Association guaranteed roughly $34 billion of mortgage-backed securities in August as the government loan market remained strong, particularly for buyers of new and existing homes.

Countrywide Financial Corp. founder and former chief executive Angelo Mozilo must face trial on regulators' claims he misled investors about risks tied to subprime lending, a judge ruled.

MetLife Bank has emerged as the winning bidder on a $23 billion package of residential servicing rights auctioned off by the Federal Deposit Insurance Corp., according to investment banking sources close to the situation.

Arch Bay Capital, which invests in and manages delinquent mortgages, appears to have scuttled — for now — its plans to enter the origination business, according to industry officials who have worked with it.

Lenders were given a ray of hope Thursday that the Federal Housing Administration may come down on the side of flexibility when it finally issues a final rule regarding seller concessions.

Mortgage servicers and banks foreclosed on more homes in August — 95,364 units — than in any month since the start of the U.S. mortgage crisis, according to new figures compiled by RealtyTrac Inc., Irvine, Calif.

Independent mortgage banking companies earned an average profit of $917 per loan originated in the second quarter, a 51% increase from the first quarter, as production volumes increased and personnel costs fell.

Independent mortgage banking firms earned an average profit of $917 per loan originated in the second quarter, a 51% increase from 1Q as production volumes increased and personnel costs fell.

Ocwen Financial Corp. said it paid $1.196 billion, or 7.4% less than originally planned, when it closed on its purchase of HomEq Servicing Corp. of North Highlands, Calif., citing runoff in the company's securities and whole loan portfolio.