Alleged HECM Scheme Settled
The federal government has negotiated a settlement with a man who is accused of abusing the federally insured reverse mortgage program.
Mortgage Rates Retreat, VA Rates Lowest
An impressive improvement was reported for weekly mortgage rates. On a monthly basis, rates on residential loans for U.S. veterans were the lowest.
Ginnie MBS Issuance Up Despite Multifamily Slump
Even though apartment loan securitizations slipped last month at the Government National Mortgage Association, overall issuance moved higher.
Mortgage Credit Tightens, FHA Loses Share to VA
Over the past year, there has been a shift in mortgage market share among government programs. Meanwhile, credit conditions contracted from the previous month.
Refinances Drive Up Mortgage Applications
More people completed applications for loans secured by residential properties this past week, and it was refinance activity that drove the increase.
Ginnie MSRs For Sale on Over $600 Mil in Loans
Mortgage Credit Eases
More than $600 million in loans
are behind an offering of Ginnie Mae mortgage servicing rights. Nearly half of the loans are secured by properties in Texas.
A standardized quantitative index that reflects credit conditions in home lending indicates that lenders loosened their purse strings last month.
FHA Endorsements Drop, Headed Lower
Monthly business turned lower at the Federal Housing Administration, and a further decline is likely. Meanwhile, delinquency deteriorated.
Apps for Home Purchase Financing Up From Year Ago
Despite a week-over-week decline in new applications for mortgages, the volume of people applying for loans to finance a home purchase has strengthened from a year ago.