Calif Hits Another Lender for Interest Overcharges
For the second time this month, a mortgage lender has agreed to settle allegations by the Golden State of illegal interest charges. The latest settlement also resolves charges of unlicensed servicing.
Hurricanes Push Up Mortgage Delinquency
Despite hurricane-related deterioration in the rate of mortgage delinquency, the rate of serious delinquency and foreclosures stand at the lowest level in decades.
Servicing Expands, Origination Up at Caliber
Quarterly mortgage originations increased at Caliber Home Loans Inc., as did the size of its servicing portfolio. But the company reduced its payroll by nearly 200 people.
FHA Endorsements Down, Delinquency Up
New monthly business at the Federal Housing Administration turned lower and is likely to recede even further. Reverse mortgage applications exploded ahead of premium changes. FHA delinquency deteriorated.
Office Loans Lead Drop In CMBS Delinquency
Loan performance on securitized commercial real estate loans improved for the fifth consecutive month, with office loans faring best. But the holiday season isn't being kind to retail.
CIT Settles With Ocwen
The banking subsidiary of CIT Group Inc. has agreed to settle claims by the servicing subsidiary of Ocwen Financial Corp. that it should have been reimbursed for servicing errors.
Fannie's Multifamily Lates Climb to 7-Month High
Monthly secondary marketing activity at the Federal National Mortgage Association turned lower. In its commercial business, delinquency deteriorated on apartment loans.
8-Year Low for CMBS Delinquency
A big drop in late payments on securitized commercial real estate loans left the rate at a more than eight-year low. Hotel loans had the largest decrease.
CRE Loan Performance Improves
Quarterly delinquency on commercial real estate loans retreated for most investor types. Commercial mortgages owned by financial institutions matched the lowest rate in at least 24 years.
Earnings Improve at Mortgage Servicers
Mortgage servicers saw a solid improvement in quarterly earnings. Behind the rise were higher servicing fees and lower losses on mortgage servicing rights.