Opportunity Lurks as HELOC Production Rises
It's been five years since the origination of home-equity lines of credit has been this high, and opportunity may be lurking in the sector.
Correspondent Nonprime Program Launching
A company that has made a name for itself brokering portfolios of mortgage servicing rights said it will begin acquiring nonprime mortgages.
Junior Lien Performance Strong at Banks
Residential junior lien performance improved on a quarter-over-quarter basis as the past-due rate on overall consumer delinquency dove to a record low.
NY Hard Money Lenders Under Investigation
Financial services firms making hard money loans are being investigated by a New York regulator for potential predatory lending practices.
Serious Delinquency Deteriorates on 1st Mortgages
The rate of serious delinquency on first mortgages moved modestly higher last month, while the rate on second mortgages slipped to a record low.
BofA CEO Visits HEL Hub
The chief executive officer of Bank of America Corp. recently stopped in to pay a visit to a fast-growing office that handles home-equity lending.
Younger Borrowers Have Lowest Mortgage Delinquency
Quarterly mortgage delinquency continued to improve, with loans to the youngest segment of the population performing the best.
Serious Mortgage Delinquency Declines
The serious delinquency rate on first mortgages and junior liens moved lower last month and was also improved from a year earlier. Consumer delinquency plunged in Los Angeles.
HELOC Default Threat Heightened in California
A wave of defaults forecasted in the next few years on home-equity lines of credit are expected to hit California especially hard.
Jumbo, Nontraditional Lending Take Biggest QM Hit
Some banks have seen lower approval rates for conforming borrowers as a result of Qualified Mortgage and Ability-to-Repay requirements. Jumbo and nontraditional borrowers fared far worse.