Serious Mortgage Delinquency Inches Up, Could Worsen
There was an up tick last month in the rate of serious mortgage delinquency. Recent natural disasters could push the rate ever higher over the next few months.
Wholesalers Offer HECM, Investor and Alt-Doc Loans
Among the latest wholesale lending offerings are federally insured reverse mortgages, investor loans and non-agency alternative documentation loans.
Bank Delinquency, Servicing Portfolios Decline
Delinquency and foreclosures on bank-serviced mortgages continued to show quarterly improvement, and the servicing portfolios of big banks continued to diminish.
Non-QM Drives Growth at Angel Oak
Rapid growth in the origination of home loans that don't meet the requirements for Qualified Mortgages is driving an expansion at Angel Oak Companies.
Big Credit Union Hit By HEL Fraud
A federally insured credit union that originated nearly $13 billion in home loans last year was defrauded by a real estate investor on home-equity loans.
Serious 1st Mortgage Delinquency Up, Could Worsen
Serious delinquency on first mortgages deteriorated last month, and the recent spate of natural disasters could make things worse. The Big Apple experienced a surge in consumer delinquency.
Trader Sued Over Decade-Old Subprime RMBS
The former chief of subprime trading at Deutsche Bank has been sued by the government for allegedly misleading investors about the quality of subprime residential mortgage-backed securities.
Home Purchase Lending Up Despite Decline in Units
Although the dollar volume of quarterly purchase-money production has recently risen, the number of loans closed has fallen thanks to the lack of junior-lien utilization.
Varied Backgrounds for New Mortgage Executives
Executives who recently found new homes at mortgage banking firms come from a variety of backgrounds including financial compliance, information technology and subprime mortgage lending.
Serious Mortgage Delinquency Ticks Higher
Home loans considered to be seriously delinquent accounted for a greater share of overall loans than in the preceding month. Dallas saw the biggest rise in consumer delinquency.