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.
Mortgages Performing Best Since 2007
The last time U.S. home loans were performing this well was in 2007, while it's been nearly as long since the foreclosure rate has been so favorable.
Dallas Delinquency Sinks
Home loans that are regarded as seriously delinquent diminished last month. The Dallas market saw consumer credit performance improve more than in any other major market.
Home Lending Products Performing Well
Performance improved during the final three months of last year on bank-owned home lending products, though mobile home loans didn't fare so well.
Market Segment Offers Opportunity
Monthly mortgage production fell to the lowest level in more than a decade, but opportunity lurks in one segment of the market. Cash sales have kept real estate sales moving, while foreclosure starts sank due to new rules.
Fmr 1stPlus CEO: Mob Got Control W/False Accusations
The former chief executive officer of FirstPlus Financial Group claimed in testimony that the mob used a false accusation to seize control of the company.
Bank Servicing Portfolios Shrink as Performance Improves
Banks and thrifts have been busy reducing the size of their mortgage servicing portfolios. At the same time, loan performance on the remaining loans has been improving.
1st Mortgage Outstandings Reach 2 Year High
It has been more than two years since the amount of first mortgages outstanding has been this high. Home-equity products, however, saw a decline.
30-Day Mortgage Delinquency Improves in February
On a month-over-month basis, distressed residential loans accounted for a smaller portion of the U.S. book of business.
NC Lender Acquired
The owner of a company based on the East Coast has sold the firm. He was partly motivated by regulatory changes that are "handcuffing" him.