1st Mortgages Outstanding Nearing All-Time High
The balance of first-lien home loans outstanding is nearing the all-time high established at the start of the crisis. The trend is down, however, for home-equity products.
Banks Maintain Mortgage Credit Standards
For most single-family lending programs, credit standards at banks were little changed during the second quarter. While demand for residential loans was up at a good share of banks, it was also down at a good share.
Wells Fargo Reaches $2 Bil Subprime RMBS Settlement
More than two years after revealing a government investigation into how it handled sales of subprime residential mortgage-backed securities, Wells Fargo & Co. has agreed to a more than $2 billion settlement.
Fmr Trump Lawyer Got $3.5 Mil Mortgage Before Raid
Just days before his home and office were raided by the FBI, President Donald Trump's former personal lawyer took out a $3.5 million non-traditional mortgage.
Dodd-Frank Rollback Raises Risk for Non-Banks
Recently enacted legislation to roll back some of the provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act is likely to have a negative impact on non-bank home lending.
Max Non-QM Loan Amount Raised to $5 Million
A nonprime correspondent investor has raised the maximum loan amount to $5 million for some of its programs that allow the origination of loans that don't meet Qualified Mortgage requirements.
Bank-Owned HEL Delinquency Up, HELOC Rate Down
As the past-due rate on consumer credit held by banks deteriorated, so did the rate on home-equity loans. But performance on home-secured credit lines fell.
Biggest MI Firm Not All-In on Mfg Housing Program
The nation's largest mortgage insurance company will not automatically align its own guidelines with guidelines for a new manufactured housing program from Fannie Mae.
Genworth M.I. Changes Mfg Housing Guidelines
Genworth Mortgage Insurance is aligning its own guidelines with new government-sponsored enterprise requirements for manufactured housing transactions.
Mortgage Delinquency Declines
The non-current rate on consumer mortgages fell from the end of last year. The improvement came despite an increase in foreclosures initiated and completed.