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The Treasury Department late Friday unveiled a new plan to expand the Home Affordable Modification Program by increasing the incentive fees it pays investors -- including Fannie Mae and Freddie Mac -- for agreeing to reduce the principal amount of a mortgage.
The serious delinquency rate on the Federal Housing Administration's $1 trillion single-family loan portfolio edged closer to 10% in December as the pace of originations slowed in the fourth quarter.
Raising guarantee fees on government-backed loans again would make a "bad situation worse," according to three industry groups that are lobbying elected officials to find new ways of funding a 10-month extension of the payroll tax holiday.
Dynex Capital Inc., a real estate investment trust that buys agency and non-agency, residential and commercial mortgage-backed securities, has priced its 12.5 million share common stock offering at $9.12 per share, for gross proceeds of $114 million.
Residential mortgages originated over the past two years are "among the best quality originations" on record, according to a new report from Lender Processing Services.
Kinecta Federal Credit Union, Manhattan Beach, Calif., posted a $30.6 million loss for 2011, citing problems with its mortgage business.






































