Record Low 2nd Mtg Delinquency, 1st Mtg Rate Up
The rate of serious delinquency on second mortgages fell to the lowest level on record. But the first-mortgage rate deteriorated for the third consecutive month.
U.S. Mortgage Performance Continues to Improve
Both the rate of mortgage delinquency and the rate of foreclosures have fallen to their lowest levels in nearly seven years.
Mortgage Mergers Wagon Rolling
As mortgage firms shift from organic growth to expansion through strategic acquisitions, some big deals have recently emerged.
Large Banks Ease Credit Standards More than Small Ones
Large banks are becoming more flexible than their smaller counterparts on residential lending. A similar trend was reported for commercial mortgages.
Regions Refinance Originations Rise
Despite a dip in purchase mortgage financing at Regions Financial Corp.'s, an increase in refinancing pushed overall home lending higher.
Serious 1st Mortgage Delinquency Up Again
Serious delinquency on first mortgages deteriorated for the second consecutive month. Also moving higher was the rate on second mortgages.
Home Equity Lending Trends
Investor interest in revolving home-equity lines is growing as compliance burdens on closed-end home-equity products increase. One servicing system is being touted as a single solution for all types of home-equity and first lien products.
Opportunity Lurks as HELOC Production Rises
It's been five years since the origination of home-equity lines of credit has been this high, and opportunity may be lurking in the sector.
Correspondent Nonprime Program Launching
A company that has made a name for itself brokering portfolios of mortgage servicing rights said it will begin acquiring nonprime mortgages.
Junior Lien Performance Strong at Banks
Residential junior lien performance improved on a quarter-over-quarter basis as the past-due rate on overall consumer delinquency dove to a record low.