1st Mortgage Lates Up, 2nd Mortgage Rate Spikes
While the rate of serious delinquency on residential loans in senior position was minimally higher last month, junior-lien loans saw significant escalation.
LOS Providers Prepare for HMDA Reporting Changes
Multiple loan origination systems are ready for upcoming changes to Home Mortgage Disclosure Act reporting requirements. Meanwhile, an LOS has been designed for hard-money lenders.
Mortgage Earnings, Originations Decline at Regions
Regions Financial Corp. reported that its mortgage originations declined, as mortgage earnings tumbled. The financial institution reduced the size of its servicing portfolio. Home-equity delinquency deteriorated.
HELOC, GSE and Gov Mortgage Demand Weakens
Financial institutions are reporting waning demand for government-sponsored enterprise loans and government-backed home loans. Also weakening was demand for home-secured credit lines.
HELOC Production Forecasted to Double
The origination of new credit lines secured by residential properties is expected to double over the next five years thanks to improving market conditions.
Serious Mortgage Delinquency Inches Up, Could Worsen
There was an up tick last month in the rate of serious mortgage delinquency. Recent natural disasters could push the rate ever higher over the next few months.
Wholesalers Offer HECM, Investor and Alt-Doc Loans
Among the latest wholesale lending offerings are federally insured reverse mortgages, investor loans and non-agency alternative documentation loans.
Bank Delinquency, Servicing Portfolios Decline
Delinquency and foreclosures on bank-serviced mortgages continued to show quarterly improvement, and the servicing portfolios of big banks continued to diminish.
Non-QM Drives Growth at Angel Oak
Rapid growth in the origination of home loans that don't meet the requirements for Qualified Mortgages is driving an expansion at Angel Oak Companies.
Big Credit Union Hit By HEL Fraud
A federally insured credit union that originated nearly $13 billion in home loans last year was defrauded by a real estate investor on home-equity loans.