Fmr Trump Lawyer Got $3.5 Mil Mortgage Before Raid
Just days before his home and office were raided by the FBI, President Donald Trump's former personal lawyer took out a $3.5 million non-traditional mortgage.
Dodd-Frank Rollback Raises Risk for Non-Banks
Recently enacted legislation to roll back some of the provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act is likely to have a negative impact on non-bank home lending.
Max Non-QM Loan Amount Raised to $5 Million
A nonprime correspondent investor has raised the maximum loan amount to $5 million for some of its programs that allow the origination of loans that don't meet Qualified Mortgage requirements.
Bank-Owned HEL Delinquency Up, HELOC Rate Down
As the past-due rate on consumer credit held by banks deteriorated, so did the rate on home-equity loans. But performance on home-secured credit lines fell.
Biggest MI Firm Not All-In on Mfg Housing Program
The nation's largest mortgage insurance company will not automatically align its own guidelines with guidelines for a new manufactured housing program from Fannie Mae.
Genworth M.I. Changes Mfg Housing Guidelines
Genworth Mortgage Insurance is aligning its own guidelines with new government-sponsored enterprise requirements for manufactured housing transactions.
Mortgage Delinquency Declines
The non-current rate on consumer mortgages fell from the end of last year. The improvement came despite an increase in foreclosures initiated and completed.
Fannie Unveils Improved Mfg Housing Financing
A new program from the Federal National Mortgage Association provides looser financing requirements for higher quality manufactured housing.
Mortgage Demand Down at Big Banks, Up at Small
Although demand for several single-family products has softened at larger financial institutions, smaller ones are seeing growing demand -- especially on non-agency loans. It was similar for commercial real estate.
Delinquency Down on Bank HELs, Up on HELOCs
Even though the quarterly performance of bank-owned installment loans secured by home equity improved, home-secured credit-line delinquency worsened. Mobile-home lates plunged.
Subprime Mortgage Product Launched
A new residential loan offering is targeted at prospective borrowers with low credit scores, high debt-to-income ratios and significant recent credit events.