Across-the-Board Growth at Guild Mortgage
In addition to achieving record loan production, Guild Mortgage Co. boosted the balance of its residential loan servicing portfolio and expanded the size of its payroll.
CMBS Delinquency Improves
Just one month after surging, the rate of past-due payments on securitized commercial real estate loans improved. Apartment loans are performing best.
Mortgage Lender Loses Appeal in MA Foreclosure Case
The Massachusetts Supreme Judicial Court held that its ruling in Pinti v. Emigrant Mortgage Co., 472 Mass. 226, 227, 232 (2015) "applies in any case where the issue was timely and fairly asserted in the trial court or on appeal before July 17, 2015." Fed. Nat'l Mortg. Ass'n v. Marroquin, 477 Mass. 82, 83 (2017).
Mortgage Balances Up, Lates at Post-Recession Low
Average mortgage balances have risen despite falling loan amounts on new originations. Home loan performance, meanwhile, is the best it's been since the recession.
U.S. Mortgages Outstanding Grow, HELOCs Shrink
On a quarterly basis, the nation's book of mortgages expanded, though home-secured credit lines contracted. Mortgage delinquency improved.
FHA Endorsements Rise, Delinquency Down
Monthly new business at the Federal Housing Administration moved higher, while an improvement was recorded for delinquency. The agency grew its residential and commercial books of business.
Serious Mortgage Delinquency Ticks Higher
Home loans considered to be seriously delinquent accounted for a greater share of overall loans than in the preceding month. Dallas saw the biggest rise in consumer delinquency.
Wells Fargo Cutting Mortgage Servicing Jobs
Dozens of mortgage servicing positions are being eliminated by Wells Fargo & Co. as the home lender closes a call center in Washington state.
Walter Investment Warns About Ongoing Viability
As losses continued at Walter Investment Management Corp., the company warned about its ongoing viability and restated income for prior period. Home lending tumbled.
PHH Continues to Reduce Mortgage Business
As the parent of PHH Mortgage continues to execute on its strategy to shrink its mortgage business, losses grew from a year earlier as originations and servicing were slashed.