Credit Standards to Ease Due to Rising Rates
Credit standards for loans included in residential mortgage-backed securities are expected to loosen next year as interest rates rise.
Subprime RMBS Settlement at Ally
Ally Financial Inc. has agreed to settle allegations of misleading marketing on the sale of subprime residential mortgage-backed securities.
Serious Mortgage Delinquency Ticks Up
Last month, serious delinquency deteriorated on both first mortgages and second mortgages. At the same time, mortgage debt outstanding has been expanding.
Mortgage Delinquency at Decade Low
As the delinquency rate on mortgages retreated to a level not seen in a decade, the foreclosure rate declined to a new nine-year low.
CRE Standards Tighter as Residential Demand Up
Banks are reporting that lending standards on commercial real estate loans have recently been more restrictive. On the residential lending side, demand is on the increase.
Home Lending Inches Up at Regions, Servicing Grows
Mortgage earnings didn't move on a quarter-over-quarter basis at Regions Financial Corp., while a modest gain was made with originations. But there was growth in mortgage servicing.
Modest Improvement in Serious Mortgage Delinquency
Serious delinquency on first mortgages dipped last month. While a more significant improvement was made on second mortgages, the category has seen deterioration from a year ago.
Wholesalers Expand Programs, Improve Process
Wholesale lenders have recently added subprime and conventional programs. One wholesaler launched an income verification tool, while another added a broker platform.
Bank HEL Delinquency Down, HELOC Lates Up
Although there was a quarterly improvement in the performance of home-equity loans, the rate of late payments deteriorated on home-secured credit lines.
Serious Mortgage Delinquency Rises
The rate of past-due payments on first mortgages increased and was up even more on second mortgages. But both categories saw a year-over-year drop.