Ginnie Issuance at 6-Year Low
The last time business was this slow at the Government National Mortgage Association was before the financial crisis exploded.
The Mortgage Production Journal
A hard money lender, a commercial real estate lender and even a U.S. government agency all reported record annual mortgage originations. Several lenders claimed the top spots in their respective cities.
No Appropriations Expected for FHA in FY 2015
Based on the expected capital reserve balance at the Federal Housing Administration, President Obama's budget projects that no mandatory appropriations will be required for the agency.
Month-Over-Month Mortgage Originations Edge Up
Despite a sharp decline in residential loan originations over the past year, the final month of 2013 saw an uptick. The mortgage market continued to wean itself off of government support.
Ocwen Unit Drives Reverse Mortgage Production Higher
For the second consecutive month, lenders lifted production of federally insured reverse mortgages higher. Ocwen Financial Corp.'s subsidiary was responsible for the improvement.
PNC Among Several Lenders Targeted by DOJ
The PNC Financial Services Group has become the third financial institution in the past week to disclose that it is being investigated by the U.S. Department of Justice.
Agency MBS Issuance Tumbles to 7-Year Low
FHA Lenders Ease Up on Credit Scores, DTIs
It has been more than seven years since the monthly issuance of Fannie Mae, Freddie Mac and Ginne Mae mortgage-backed securities has been this low.
Federal Housing Administration mortgagees are making it easier to qualify by lowering required credit scores and lifting debt-to-income ratios.