Ditech Unloading Servicing on HELOCs
The servicing of thousands of active home-equity lines of credit that are securitized is being transferred from Ditech Financial LLC next month.
Delinquency Down on 1st Mortgages, Up on 2nds
Serious delinquency on first-lien home loans took a nice tumble last month. But the same can't be said for the past-due rate on second mortgages.
1% Down Mortgage Launched
A new program has been launched that requires just 1 percent down. In addition, the product enables higher debt-to-income ratios.
Serious Mortgage Delinquency Declines
First and second mortgages that are considered to be seriously delinquent made up a smaller share of overall loans last month.
Mortgage Demand Mixed at Banks
Although demand has increased at some banks for a variety of single-family products, there tend to be just as many banks with falling demand for those very same loans.
Regions' Mortgage Income Holds Despite Lending Drop
Although quarter-over-quarter home-lending volume subsided by a fourth at Regions Financial Corp., mortgage earnings were maintained.
MSRs on Alt-A Loans Being Sold
Mortgage servicing rights on a portfolio of mostly Alt-A loans are on the market. A big share of the mortgages are secured by California properties.
Serious Mortgage Delinquency Up Again
Past-due payments on first mortgages rose last month for the fourth month in a row. Also deteriorating was the serious delinquency rate on second mortgages.
Delinquency Up on HELs, Soars on Mobile Home Loans
Past-due payments rose on three-out-of-four housing-related consumer loan types at banks -- with mobile-home loan delinquency exploding.
Bank Mortgage Delinquency Up, Foreclosures Down
Although the quarterly non-current rate of residential loans serviced by banks worsened, foreclosures started and completed fell as did the foreclosure rate.