1st Mortgage Lates Down, No Improvement on 2nds
Although the rate of serious delinquency on first mortgages continued to recede, there was no improvement on second-mortgage performance.
HEL Delinquency Deteriorates
Late payments on home-equity loans worsened on a quarter-over-quarter basis but improved from a year earlier. Loan performance on home-equity lines was better but will be stressed in the coming quarters.
HELOC Lates Down, But Expiring Draw Periods a Concern
One-month delinquency on credit lines secured by residential properties has shown improvement, while originations are climbing. But there is concern about upcoming expiring draw periods.
GSE Loans, HAMPs Performing Best at Banks
Among all home loans serviced by banks and thrifts, government-sponsored enterprise loans are performing the best. Government-subsidized modifications are performing better than proprietary ones.
Another Improvement in Serious Mortgage Delinquency
For the seventh consecutive month, the rate of serious delinquency on first mortgages improved and now stands at the lowest level in nearly eight years.
Lender Expands Non-Agency Programs
A fast-growing lender owned by an investment fund has expanded its non-agency lending as it attempts to reach a larger number of borrowers.
Mortgage Delinquency Down, VA Rate Worse
A number of factors helped pull down delinquency on residential loans to the lowest level in years. Loan performance on Veterans Affairs loans, however, deteriorated.
Banks Tighten Lending Despite Diminished Demand
Banks have tightened their guidelines on residential lending products even as demand has dropped off. But the story was different for commercial real estate lending.
Wholesale AE Coached Brokers in Mortgage Fraud
A former account executive at a subprime wholesale lender has been sentenced for her role in a mortgage fraud scheme.
Mortgage Business Falls Below $1 Billion at Regions
Regions Financial Corp.'s home lending business fell below $1 billion for the first time since Mortgage Daily began tracking its originations. Loan performance improved except for on investor commercial mortgages.