Mortgage Servicers Make a Dent in Delinquency
Residential loan servicers continued to reduce the share of distressed mortgages -- pulling down the foreclosure inventory to the lowest level in more than six years in the process.
Vigorous Growth at New American Funding
Compared to a year earlier, mortgage production nearly doubled at New American Funding. In addition, growth was nearly as strong for the firm's servicing portfolio and staffing.
PRMI Originations Edge Up
Quarterly mortgage production at Primary Residential Mortgage Inc. edged higher, while its servicing portfolio expanded. But the number of employees was trimmed.
Modification Volume Slows to a Crawl
Monthly loan modification activity has fallen to the lowest level in more than six years -- with government-supported volume slowing to a trickle.
MSRs on Over $1 Billion in Agency Loans For Sale
Bids are being accepted for an offering of mortgage servicing rights on more than $1 billion in agency home loans.
Record Low 2nd Mtg Delinquency, 1st Mtg Rate Up
The rate of serious delinquency on second mortgages fell to the lowest level on record. But the first-mortgage rate deteriorated for the third consecutive month.
Across the Board Mortgage Growth at Navy FCU
Home lending activity increased at Navy Federal Credit Union, while the servicing portfolio grew and mortgage staffing expanded.
HOA Super-Liens a Super Threat to Mortgage Investors
Mortgage investors in at least two states are at risk of total loss on loans where a homeowners association forecloses on the property without any notice to the first mortgage holder.
Mortgage Delinquency Down 11 Consecutive Quarters
The rate of delinquency on residential loans has moved lower each of the last 11 quarters. While the country's collective servicing portfolio sits well below its pre-crisis level, it has recently been on the rise.