HUD Duped by Closing Attorney
A closing attorney who is accused of defrauding the Department of Housing and Urban Development out of more than $1 million has been arrested.
Mortgage Credit Conditions Tighten 3 Months in Row
Credit conditions in residential lending were tighter for the third month in a row, and it was conforming loan programs that contracted the most.
9-Month Low for Mortgage Rates, Could Drop Further
|Mortgage Business Jumps to 9-Month High, Refis Soar
New mortgage activity leapt to the highest level in nine months as interest rates continued to improve. The impressive gain was fueled by a surge in refinance transactions, though jumbo activity also helped.
Interest rates on home loans dropped to a nine-month low and, barring a less-than-stellar employment report tomorrow, could fall further.
MBS Issuance Inches Up at Ginnie Mae, Jumbo Jumps
With jumbo loan activity leading the way, securitizations at the Government National Mortgage Association moved higher last month.
Wells Fargo Tentatively Settles FHA Lawsuit
A tentative settlement reached for more than $1 billion between Wells Fargo & Co. and the government resolves claims of reckless underwriting and fraudulent loan certifications on government-insured loans.
Purchases Drag Down Weekly Mortgage Applications
Mortgage originators generated fewer new residential loan applications last week than in the prior week, and purchase financing led the decline.
Reverse Mortgage Lending Tumbles to 16-Month Low
Federally insured reverse mortgage originations moved lower last month, with volume sinking to the lowest level in 16 months.
Loans in Agency MSR Sale Could Reach $900 Million
A new flow offering of mortgage servicing rights on agency loans could end up generating MSRs on as much as $900 million in mortgages for the buyer.