Genworth Easing Requirements
In conjunction with updates being made to the Federal National Mortgage Association's automated underwriting system, Genworth Mortgage Insurance is making changes of its own.
Mortgage CMOs, GSE Director Appointed
Recent executive movement in the home-lending industry includes a director appointment at a government-sponsored enterprise and two people who have been hired as chief marketing officers.
Freddie to Stop Allowing Lender-Paid DPA
The Federal Home Loan Mortgage Corp. is eliminating grants and gifts from home lenders as an eligible source of down payments on its program for lower-income borrowers.
GSE Refinances Fall, HARP Plunges
Government-sponsored enterprise refinances have tumbled on a year-over-year basis, with volume from the government's program sinking.
MSRs on Over $3 Billion in GSE Loans On Market
Servicers have an opportunity to pick up mortgages servicing rights on over $3 billion in recently originated government-sponsored enterprise loans.
Outlook for Purchase Mortgage Demand Tumbles
Senior mortgage executives expect demand for purchase-money mortgages to diminish over the next three months, with government programs taking the biggest hit.
MGIC Eases Guidelines
Underwriting guidelines have been relaxed at MGIC. Among transactions impacted are refinances and financing for co-operatives.
For Sale: Over $1 Billion in GSE Mortgages
More than $1 billion in government-sponsored enterprise mortgages that are not performing are being offered for sale to the highest bidder.
Mortgage Credit Tightens 3 Out of Last 4 Months
During the last four months, residential lending standards have tightened three times. The latest constriction was led by conforming loans.
MSR Offering Could Exceed $1 Billion in GSE Loans
A bulk and flow offering of mortgage servicing rights could wind up exceeding $1 billion in government-sponsored enterprise home loans.