During February, reverse mortgage lenders originated 8 percent fewer reverse mortgages than in January, Reverse Market Insight reported.

Compared to February 2009, volume tumbled 23 percent.

Over the past year, the number of reverse mortgage firms has fallen 19 percent.

Joseph Prat has re-joined Franklin Credit Management Corp. as vice president of default servicing, a statement said.

The new southeast regional manager at Mortgage Network Inc. is Don Bartolomucci, the company announced.

Jeff S. Bell has been appointed senior vice president and chief information officer of PHH Corp., parent of PHH Mortgage.

Citigroup Inc. reported in a public filing that three directors would step down when their current terms end.

Mark K. Mason was named chairman of the board and chief executive officer at HomeStreet Bank, the financial institution reported.

Synovus Financial Corp. said that Kessel D. Stelling Jr. was chosen as the company’s president and chief operating officer.

Doug Criscitello was sworn in as chief financial officer of the U.S. Department of Housing and Urban Development, a press release said.

Donald L. Kohn yesterday submitted a letter indicating his intent to resign as a member of the Board of Governors of the Federal Reserve System, a statement said.

Federal Reserve Chairman Ben S. Bernanke commended Kohn for "his deep knowledge, experience, and wisdom to bear in helping to coordinate the Federal Reserve’s response to the economic and financial crisis."

Residential originations of first mortgages and home-equity lines-of-credit were 4 percent higher during 2009 at federally insured credit unions than in 2008, the National Credit Union Administration reported.

Production on other types of real estate loans was similarly higher.

An increase in overall loan volume, however, was more moderate.

The Monthly Treasury Index declined 0.02 percent between January and February, according to government data.

It was the lowest point ever for the MTA.

Based on recent Treasury activity, the MTA is likely to fall a little more before ending its long decline.

An extension for the Home Affordable Refinance Program was announced by the Federal Housing Finance Agency.

HARP was originally set to run until this summer.

Now the program has been extended to June 30, 2011, the FHFA said.

Fixed-rate issuance at Fannie Mae, Freddie Mac and Ginnie Mae declined 8 percent between January and February, according to data released by eMBS.

Compared to February 2009, issuance was down 7 percent.

A monthly increase in securitizations at Fannie wasn’t enough to overcome a decline at its two government-controlled cousins.

Bank of America Corp. has closed on the sale of Wilshire Credit Corp., a news release said.

The acquiring company was IBM.

Wilshire is a nonprime mortgage servicer.

The Nevada Department of Business and Industry, Financial Institutions Division, seized Carson River Community Bank.

The Washington Department of Financial Institutions closed down Rainier Pacific Bank because of inadequate capital and severe loan losses.

Assurity Financial Services LLC notified its customers that it would wind down operations last week, according to a copy of a bulletin from the company’s chief executive officer that was published by the Mortgage Lender Implode-0-Meter — which withdrew its "A" ranking of Assurity as a "Top Non-Imploded" retail and wholesale lender.