Best Month for New Business at Freddie Since 2013
New business at the Federal Home Loan Mortgage Corp. climbed to the highest level since the summer of 2013. Delinquency, meanwhile, fell to the lowest rate since 2008.
Ocwen Laying Off Servicing Employees
More than a hundred employees will be laid off as Ocwen Financial Corp. closes down a mortgage servicing facility in Texas.
Big Portfolio of Ginnie MSRs on the Market
Servicers of Government National Mortgage Association loans have an opportunity to make a substantial addition to their servicing portfolio.
loanDepot On Pace to Double 2014 Production
Based on lending activity during the first three months of 2015 at loanDepot LLC, full-year mortgage production is on pace to nearly double 2014 volume.
NY Foreclosure War Rages as Servicers, State Team Up
Mortgage holders in New York continue to battle delinquent borrowers, judges and challenges to standing based on, in one instance, "law office failure" and, in another, "clerical error." Servicers have teamed up with the state government to cut down on "zombie properties."
Mortgage Delinquency Up, Foreclosures Down
Residential loan delinquency saw a seasonal up tick in April, but the rate of foreclosures moved lower. Both metrics have substantially improved from a year earlier.
The State of Mortgage Lending
|Home Repossessions Jump Again
For the second consecutive month, a surge was reported in the number of foreclosures that were completed. New filings, however, were down.
Although the volume of home lending stands near its weakest level since the crisis, distressed loan ratios have significantly strengthened.
Proprietary Loan Modification Volume Surges
An acceleration in the monthly number of proprietary loan modifications completed more than offset waning government-funded activity.