HELOC Market Heats Up
Although outstanding balances on all home-secured credit products diminished, new activity on credit lines secured by residential properties is strengthening.
1st Mortgage Delinquency Down, 2nd Mortgage Up
Although the rate of serious delinquency on first mortgages improved for the first time in seven months, the second-mortgage rate was worse for the fourth consecutive month.
Senate Bill Seeks to Ease Lending on Mfg Housing
A quartet of senators are behind a bill introduced this week that is intended to ease restrictions on financing manufactured homes.
Merger Creates Finance Company Giant
Former subprime home lending giants that have since abandoned the mortgage business are merging through an acquisition.
Credit Challenged Mortgage Program Launching
A new home lending program that targets credit-challenged borrower prospects is being made available through the retail and wholesale lending channels.
Quarterly Delinquency, Foreclosure Rate at 7-Yr Low
The quarterly rate of 30-day delinquency and foreclosures fell to the lowest levels in seven years. Past-due payments on government-insured loans, however, worsened.
HELOC Lending on the Rise
Although traditional mortgage originations have generally been declining, home-secured credit line business has been on the rise. But while some subprime activity has crept into closed-end mortgage lending, credit line activity has been limited to prime borrowers.
2nd Mortgage Delinquency Deteriorates Again
Although first mortgage loan performance ended a five-month streak of deterioration, the same can't be said for second mortgage performance.
Demand Diminishes for Residential Lending
A survey of the nation's banks indicates that demand for a range of residential loan products has mostly been weakening.
90-Day 1st Mtg Delinquency Up 5 Consecutive Months
Serious delinquency on first mortgages was worse in December and has been worse each of the past five months.