Fannie Updates Appraisal Requirements
Appraisal policies have been updated at the Federal National Mortgage Association. Impacted areas include required photos, acceptable comparable properties and updated reports.
Legislation Would Boost Private Label RMBS Issuance
Legislation that would eliminate the Federal National Mortgage Association and the Federal Home Loan Mortgage Corp. could be a boon for non-agency issuance.
Citi Production Tumbles, Delinquency Down
Mortgage originations have plummeted by more than 70 percent from a year ago at Citigroup Inc. and were down by more than a third from the prior quarter. But the lender improved performance on its mortgage portfolio.
MSRs on Nearly $900 Million in Loans Up for Bid
Mortgage servicing rights on nearly $900 million in agency home loans have been put up for bid.
Mortgage Originations Sink at Wells Fargo
New mortgage business tumbled to the lowest level in more than a decade at Wells Fargo & Co. A decline in junior lien holdings more than offset an increase in first mortgage assets.
Chase Shrinks Mortgage Business
Home lending fell to the lowest level during any quarter in at least 11 years at JPMorgan Chase & Co. The company also cut its servicing portfolio, reduced its mortgage assets and eliminated mortgage jobs.
Danish Secondary Model Offers Alternative
An alternative to the mortgage finance overhaul proposals currently being discussed in Congress is the Danish mortgage banking model.
MBS Issuance Slows to a Trickle at Ginnie
New business had already fallen to the lowest level in nearly six years at the Government National Mortgage Association, but last month it went even lower. Deterioration would have been deeper were it not for an uptick in jumbo and reverse mortgage issuances.
Diverse Topics Tackled at Upcoming Mortgage Events
Topics being covered at upcoming mortgage conferences include bankruptcy, secondary marketing and loan servicing. Diversity is the focus of one event.