Mortgage Turnaround Slows as Closing Ratios Rise
The share of home loan applications that closed improved on a monthly basis, though turnaround on loan originations suffered.
Implementation of FHA Handbook Delayed
Lenders who are struggling to meet the implementation deadline for a new Federal Housing Administration handbook have been granted a reprieve.
Agency MBS Issuance Soars to 20-Month High
Issuance of agency mortgage-backed securities was up by more than a fifth last month, with the Freddie Mac seeing a more than one-third increase. Ginnie Mae's activity jumped to the highest level in more than a half-decade.
Quicken Jockeying for Home Town Venue in Lawsuit
In the next phase of Quicken Loan Inc.'s litigation battle with the federal government, the online lender seeks to keep the case in its home town.
New FHA Applications Pile Up
Despite a solid increase in new applications during the first month of the year, Federal Housing Administration production moved lower in the second month. But applications have continued to pile up -- pointing to a strong gain ahead.
Ginnie MSR Portfolio Hits Market
A portfolio of mortgage servicing rights on nearly $1 billion in Ginnie Mae loans is being marketed for sale.
Quicken Founder Says Gov Lawsuit Riddled W/Errors
In a conference call Friday, Quicken Loans Inc.'s founder and other company executives highlighted errors in the government's lawsuit against it.
Requirements Stiffened on FHA Distressed Loan Sales
|Refis and Conventional Top Mortgage Activity Decline
Despite stronger business on a year-over-year basis, refinance activity took the hardest hit as new mortgage activity slowed this past week. Meanwhile conventional activity had the second worst week-over-week showing.
Changes being made to a program to sell distressed mortgages insured by the Federal Housing Administration extend the amount of time investors must wait to liquidate the assets.