Homeowners Struggling More With House Payments
Two housing advocacy groups have recently released studies showing that while most groups in America are benefiting from the housing boom, working families and minorities are still getting shorted.
MBS Issuance to Reach $1.67 Trillion
Issuance of mortgage-backed securities should break last year's record of $1.67 trillion, the Bond Market Association reported in its Research Quarterly newsletter.
Time to Raise the Roof
Fannie Mae and Freddie Mac announced Tuesday that they will increase the conforming mortgage loan limits for 2003.
The highest hurdle in owning a home is saving for the down payment and closing costs. And brokers, not just families, can benefit from the many down payment assistance programs that help clear that roadblock.
Company With Principals
Principal Financial Group, Inc.'s residential mortgage company announced a jump in mortgage loan production during the third quarter.
Train Keeps Rolling
The 30-year fixed-rate mortgage took a small step upward, and mortgage applications surged in response to Freddie Mac's record low 30-year last week.
Right Said Fred
Freddie Mac announced a significant increase in new business purchases during the month of October.
3rd Consecutive Production Record at ABN AMRO
ABN AMRO Mortgage Group, Inc. announced production increases for the month of October, led by the year-to-date totals of its wholesale lending operation and its retention and e-commerce lending division.
Breaking records again, the 30-year fixed-rate mortgage took a dip this week -- unfortunately, so did mortgage applications.
FHLB Holding More Mortgages
Federal Home Loan Bank mortgage loans have almost doubled the year-end total of 2001, Dow Jones Newswires reported.
There's No Place Like Home
After a string of deadly tornados pummeled through several Southern and Great Lake states over the weekend, Fannie Mae announced mortgage relief provisions for Tennessee victims.
Fed Survey Says Cashouts Going For Debt Paydown
A Federal Reserve Board survey of 55 banks revealed that while the demand for residential loans has remained largely unchanged in the past three months, demand for loans to the commercial and industrial sector has taken a dip.
Movin On Up
Every salesperson knows they should be acting as a consultative expert and yet very few achieve this distinction. The question is -- how do you make this transition?
The Inside Scoop
You deal with them everyday, but you may not know them deep down inside. Credit scores are the essence of the kind of mortgage a consumer gets. Consumers are becoming more savvy about the importance of their credit scores, which play a role in mortgage production that even many brokers may not understand.
City In Flames
A massive mortgage fraud ring in Atlanta responsible for more than a hundred million dollars in losses on hundreds of properties has been broken up by federal authorities.
The Name Game
What's in a name? According to Countrywide Credit Industries, a reflection of diversified financial services.
Countrywide Blows Past Prior Records
Countrywide Credit Industries, Inc. reported another record breaking month with its funding volume, pipeline, and servicing portfolio.
Freddie Economist Sees "Further Downward Drifts" for Mortgage Rates
What did it mean for the mortgage industry when the Federal Open Market Committee announced Wednesday it was cutting interest rates? Not much, according to some analysts. However, the one-year adjustable-rate mortgage (ARM) hasn't been lower since 1994, in addition to mortgage applications increasing and fixed-rate mortgages holding steady for the week.
9 to 5
Employment numbers in the mortgage industry continued to rise in the month of October, according to the monthly employment report from the Bureau of Labor Statistics. The improvement comes amidst rising unemployment in the U.S. and a drop in mortgage activity.
The cost of funds index (COFI) fell for the third consecutive month, nearing its lowest point in decades.
Share of Cash Outs Falling
The share of refinance loans that were for cash out decreased in the most recent quarter, according to a report from a government sponsored housing enterprises.
Conseco Delays Q3 Results; on Verge of Bankruptcy
Conseco, Inc. announced it will delay filing of its third quarter results and warned of an $8 billion loss, The Wall Street Journal online reported.
Well It's Buying Time Again
HSBC Holdings PLC announced Thursday the purchase of Household International, Inc. for $14.24 billion in stock, a promising move for Household's hardest critics.
Q3 Securitizations 2nd Highest Ever at RFC
Residential Funding Corporation (RFC) announced Monday its total asset-backed and mortgage-backed securities issuance reached $9.2 billion during third quarter 2002. This marked the second largest quarterly securitization volume in company history.
Alt-A mortgage securitizations should reach a record-breaking $41 billion by the end of 2002, according to a report by Moody's Investors Service. The mortgage loans also are expected to increase about 50% over 2001's volume
Home Improvements Rise
With mortgage rates low and home sales at record highs, home buyers are again investing in remodeling, according to the third quarter Remodeling Activity Indicator (RAI), devised by the Joint Center for Housing Studies at Harvard University
Government-owned Ginnie Mae celebrated $2 trillion in mortgage-backed securities Friday with the company that helped make the number.
A bill that makes permanent a streamlined mortgage down-payment program for low-income borrowers was passed by the U.S. House on Thursday, the Mortgage Bankers Association of America (MBA) announced.
Some recent commercial mortgage transactions.
To Insure, or Not to Insure?
In its final act of the 107th Congress, the Senate approved a bill Tuesday that creates a temporary, federal government reinsurance backstop against future insurance claims due to acts of terrorism.
CMBS Delinquency Takes Breather
Delinquency rates on commercial mortgage-backed securities (CMBS) took a welcomed tumble in the third quarter, according to Tuesday's edition of CMBS Quarterly Review.