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.
1st Mortgage Delinquency Up 3rd Consecutive Month
For each of the most-recent three months, the rate of serious delinquency on first mortgages moved up. Second mortgage performance also waned.
MBS Settlement for $165 Million
Several pension funds are claiming victory in a lawsuit originally filed nearly a decade ago over alleged losses suffered from mortgage-backed securities investments.