Mortgage Rates Forecasted to Rise
Both short-term economic forecasts and long-term forecasts have fixed interest rates on home loans moving in a northerly direction.
Government Sues Guild Mortgage Over FHA Loans
Guild Mortgage Co. has become the latest target of the government in its witch hunt against lenders it claims improperly originate and underwrite government-insured loans.
HECM Program Updates Proposed
Changes that are being proposed to the home-equity conversion mortgage program include new consumer protections for borrowers and new lender requirements.
Freddie Lifts Est Q1 Refi, Government Production
First-quarter refinance production and government share of overall mortgage originations turned out to be better than previously thought by economists at Freddie Mac.
Mortgage Closing Rate Diminishes
A smaller share of mortgages in process closed last month compared to March, though the closing rate improved versus the same month last year.
Proprietary Reverse Mortgage Production Up
Unlike government-insured reverse mortgage production, proprietary reverse mortgage originators saw a gain in volume from a month and year earlier.
Purchases Pull Down Mortgage Applications
Despite an increase in applications to refinance home loans, overall mortgage applications softened due to a slowdown in home purchase financing.
FHA Loan Sale Auction Set
An auction to sell residential loans that were originally insured by the Federal Housing Administration is taking place this week.