FHA Delinquency, New Business Increase
For each of the past three months, residential delinquency has deteriorated at the Federal Housing Administration. But cnew residential business climbed to the highest level in eight months.
FHA HAMP Streamlined
Changes are being made to the procedures on government-insured mortgages that will reduce the number of steps needed to resolve delinquency and modify the loans.
Refinances Drive Down Mortgage Applications
Weekly applications for residential loans recently turned lower, and it was applications for mortgage refinance transactions that drove down overall activity.
New Mortgage Application Arrives
A new loan application for single-family loans has been unveiled for use on government-sponsored enterprise loans and government-backed mortgages.
Caliber Caught Up in Disparate Impact Case
Mortgage Servicer Defrauds Ginnie
A group of black borrowers whose distressed home loans were sold to investors by the Department of Housing and Urban Development claim they've been discriminated against.
The president of a servicer has been charged with stealing nearly $3 million from loans included in mortgage-backed securities guaranteed by the Government National Mortgage Association.
Retail HECM Originations Up, Wholesale Down
While the monthly volume of government-insured reverse mortgages increased from the retail channel, the wholesale channel experienced a decline.
Mortgage Credit Tightens as Closing Rate Improves
As loan-to-value ratios tightened last month, credit scores have risen each month this year. But a bigger proportion of loans closed as refinance share rose.