Continued Improvement in 1st Mortgage Delinquency
First-mortgage delinquency has fallen three months in a row. While the second-mortgage rate was down from the prior month, it was worse than a year ago.
IMPAC Expands Non-QM Offerings
In its quest to battle the dehumanization of mortgage underwriting, Impac Mortgage Corp. has expanded it product line of loans that don't meet Qualified Mortgage standards.
Mortgages Outstanding Up Even as Lending Down
Quarterly home lending has fallen, as has the rate of serious mortgage delinquency. But mortgages outstanding have grown.
Serious Delinquency Improves on 1st Mortgages
As the rate of serious delinquency on consumer credit dropped to a new low last month, the rate of past-due payments on first mortgages improved nicely.
Wells Fargo Fighting Whistleblower Lawsuit
A former employee of Wells Fargo & Co. is suing the home lender in a whistleblower action. He claims he was fired for not lying to distressed borrowers.
Mortgage Performance at Pre-Recession Levels
Delinquency and foreclosures declined to levels not seen since before the Great Recession. Foreclosure starts haven't been this low since the turn of the century.
Mortgage Originations Rise, Subprime Lending Grows
A trio of reports on mortgage production generally indicates growth. Even subprime originations have experienced an increase in closings.
1st Mortgages Outstanding Up as HELs, HELOCs Off
Although the nation's quarterly book of first mortgages outstanding expanded, contraction continued for home-equity products.
Mortgage Servicing, Assets Up at Regions
Regions Financial Corp. reported growth in its residential loan servicing and investment portfolios, while delinquency fell. But quarterly mortgage production was off.
Mortgage Demand Up at Banks, CRE Stds Tighten
While bank lending standards on home loans have changed little recently, guidelines tightened on commercial real estate loans. Demand was up for both types of loans.