Secondary Market

With only weeks left before the end of 2013, FDIC has added another tally to its list of the year's bank failures. The Office of the Comptroller of the Currency (OCC) announced Friday the closure of Texas Community Bank, National Association, in the Woodlands, Texas.

Mueller Reports, a provider of property data collection services operating out of New York state, announced its intentions to expand into the valuation space in 2014.

As the newly confirmed Mel Watt prepares to take the reins at the Federal Housing Finance Agency (FHFA), current Acting Director Edward DeMarco has announced changes to the agency's senior staff.

Tom Lewis, founder and CEO of Arizona-based homebuilder T.W. Lewis Company, is the first-ever inductee in Professional Builder magazine's National Housing Quality (NHQ) Award Hall of Fame, the company announced.

In 1998, the top ten mortgage loan originators held around 40 percent of the market. By 2010, their share increased to nearly 80 percent; since then, it's dropped down to around 60 percent. Why the decrease? Because only five of the top 20 single-family mortgage originators in 2006 remain active today. So what's driving the big guys out--market cycles or market restructuring? And will the current trend of favoring smaller lenders last forever? Fannie Mae's Gerry Flood and Patrick Fischetti explored the topic in a recent commentary.

As part of its "Strategic Plan for Enterprise Conservatorships," the Federal Housing Finance Agency has directed Fannie Mae and Freddie Mac to bring up their guarantee fees (g-fees). Based on the GSEs' loan purchases in Q3 2013, FHFA expects the announced changes to the g-fee structure to produce an overall average g-fee increase of approximately 11 basis points, which represents an average increase of 14 basis points on a typical 30-year mortgage.

The Federal Home Loan Bank (FHLB) of San Francisco has elected Pacific Premier Bancorp CEO Steven R. Gardner to its board of directors.

PNC and Freddie Mac announced an agreement to resolve substantially all indemnification and repurchase obligations related to loans sold to Freddie Mac between 2000 and 2008.

Freddie Mac's mortgage book of business declined at an annualized rate of 6.4 percent in October, marking the fourth consecutive month of declines.

In Georgia, Equity Loans LLC made two announcements: the launch of its correspondent lending channel and the hiring of two new executives to support the division.