GSEs Unloading Nearly $6 Bil in Reperforming Loans
The government-sponsored enterprises are moving nearly $6 billion in reperforming residential loans off of their balance sheets.
Mortgage Originations Soar at Lake Michigan CU
In Lake Michigan Credit Union's mortgage business, loan production leapt, the servicing portfolio continued to grow, and the number people on the payroll expanded.
Ginnie's HMBS Issuance Falls to Nearly 4-Year Low
Reverse mortgage securitizations on behalf of the Government National Mortgage Association fell to an almost four-year low. Overall issuance was little changed.
Record Guild Mortgage Originations
Home lending increased at Guild Mortgage Co. to the highest level ever. Meanwhile, the size of the national staff and the residential loan servicing portfolio both increased.
CashCall Charges Leave Impac With Huge Loss
A re-evaluation of of CashCall Inc.'s value has left Impac Mortgage Holdings Inc. with a huge loss as the company takes the consumer-direct channel in a new direction.
Tiny Offering of GSE MSRs
A tiny portfolio of servicing rights on single-family loans that are backed by the government-sponsored enterprises is being sold through the auction process. There is an East Coast concentration.
Mortgage Servicing, Originations Up at Citizens
Residential assets and servicing grew at Citizens Financial Group Inc. A quarter-over-quarter rise in home lending was accompanied by a drop in conforming share.
Post-Crisis High For Mortgage Credit Availability
Credit conditions in home lending were more relaxed last month than at any time since the financial crisis. Out front of the loosening were jumbo mortgages. But government conditions tightened.
Buyer Sought for Small GSE MSR Portfolio
Bids are being sought for the servicing on nearly $300 million in government-sponsored enterprise residential loans with a Golden State concentration.
Earnings, Servicing Increase at PennyMac
Earnings increased and servicing expanded at PennyMac Financial Services Inc. But originations were down from last year, and delinquency deteriorated.