MSRs on Nearly $900 Million in Loans Up for Bid
Mortgage servicing rights on nearly $900 million in agency home loans have been put up for bid.
MBS Issuance Slows to a Trickle at Ginnie
New business had already fallen to the lowest level in nearly six years at the Government National Mortgage Association, but last month it went even lower. Deterioration would have been deeper were it not for an uptick in jumbo and reverse mortgage issuances.
Feedback Sought for New FHA Handbook
Stakeholders have one month to provide feedback on a new policy handbook being proposed for the Federal Housing Administration.
Market Segment Offers Opportunity
Monthly mortgage production fell to the lowest level in more than a decade, but opportunity lurks in one segment of the market. Cash sales have kept real estate sales moving, while foreclosure starts sank due to new rules.
Jumbo Business Holds Up Amid Overall Weekly Decline
The difference between interest rates on conforming loans and jumbo mortgages evaporated, helping jumbo activity avoid the broad-based decline that hit weekly business.
Top Commercial Mortgage Lenders
The annual ranking of commercial real estate lenders is out, and the largest CRE lenders are also the top residential lenders. Rankings were also presented by investor type.
Walter Investment Unit Drives Drop in HECM Production
A steep decline in the monthly volume of government-insured reverse mortgages closed by Walter Investment Management Corp.'s reverse lending subsidiary was enough to drive the entire sector lower.
HECM Lenders Settle With HUD
Bank of America Corp., which has been out of the reverse mortgage business for years, was among two companies to settle charges of violating guidelines on government-insured reverse mortgages.