Mortgage Rates Dip, Could Fall Further
A modest week-over-week drop was reported for fixed rates on residential loans, and an even bigger decline is likely in the next report.
VA Mortgage Share Up as Credit Conditions Ease
Veterans home loans guaranteed by the government have grabbed a bigger share of the mortgage market over the past year. Credit scores and income ratios have eased over the same period.
Drop in Purchase Mortgage Apps Offsets Refi Rise
Although the number of borrowers who applied to refinance their mortgages expanded, a week-over-week drop in applications to finance a home purchase offset the gain.
FHA Endorsements Rise, Delinquency Down
Monthly new business at the Federal Housing Administration moved higher, while an improvement was recorded for delinquency. The agency grew its residential and commercial books of business.
Biggest VA Lender Settles RESPA Violations
A firm that has recently claimed to be among the biggest home-purchase lenders for veteran programs has agreed to pay over $1 million to settle alleged violations of the Real Estate Settlement and Procedures Act.
Ginnie' Fiscal YTD MBS Issuances Surpass $400 Bil
Mortgage Rates Drop, Even Bigger Decline Likely
A modest volume of monthly securitizations on behalf of the Government National Mortgage Association have pushed fiscal-year volume so far past $400 billion.
A modest reduction in rates for single-family loans was made this week. Next week's report is likely to reflect an even bigger improvement.
Refinances Lead Mortgage Applications Higher
While applications for loans to finance a home purchase saw a 1 percent week-over-week gain, applications for loans to refinance an existing mortgage led an overall increase.
PHH Settles Allegations it Made Bad Agency Loans
A former employee of PHH Corp. will receive millions of dollars for her role in exposing allegedly bad lending practices that has resulted in a big settlement.