3-Year Low for Ginnie Mae MBS Issuance
Securitizations on behalf of the Government National Mortgage Association fell to the lowest level in more than three years. But securities outstanding kept growing.
Chase's Mortgage Earnings Jump on Servicing
Company-wide quarterly earnings soared at JPMorgan Chase & Co., while mortgage income jumped on soaring servicing revenue. Loan originations sank, and servicing dropped.
Reperforming Mortgages Trade Hands
The sale of nearly $70 million in single-family loans has been completed. All of the mortgages in the transaction are currently reperforming.
Nearly $2 Bil in Reperforming GSE Loans Sold
Winning bidders have been announced in the auction of nearly $2 billion in reperforming government-sponsored enterprise residential loans.
Huge Agency MSR Portfolio On the Market
A huge offering that just hit the market includes mortgage-servicing rights on more than $6 billion in agency-backed loans. There is a modest Illinois concentration.
New Penn Picks Up Correspondent Lending Unit
New Penn Financial LLC, which itself is being acquired with its parent company, has picked up a correspondent lending operation.
GSE MSR Offering Hits Market
A financial institution is selling mortgage servicing rights on government-sponsored enterprise loans with a three-state concentration.
Mortgage Credit Tightest in 13 Months
The availability of credit for people desiring to finance a residential property was the lowest it's been in more than a year. Leading the contraction were government programs.
Fannie Lenders Can Contribute Closing Costs
In certain situations, the Federal National Mortgage Association will allow home lenders to help borrowers with some of the cash needed to close on a home-purchase transaction.
12-Month Low for Fannie's New Business
New business retreated to the slowest pace during the past year at the Federal National Mortgage Association. Meanwhile, serious mortgage delinquency dipped.