Subprime Slowly Expands, Though Not for HELOCs
Residential lenders are slowly wading back into subprime lending, though less so on lines of credit secured by borrowers' homes.
Deterioration in Serious Mortgage Delinquency
Loan performance on first and second mortgages slipped last month, though some deterioration is to be expected as a result of higher-risk lending by banks.
Credit Union Reaches $1 Bil in Home Equity Lending
A credit union operating in New York has reached a significant milestone in its home-equity lending business: $1 billion in assets.
Record Bank Earnings, Soaring Mortgage Originations
Quarterly home lending activity was up by more than a fifth at U.S. banks, while earnings soared to an all-time high.
Mortgage Bankers Report Improved Originations
The results are in, and the second quarter was a solid period for residential lenders -- with many reporting double-digit quarterly increases.
Serious 2nd Mortgage Delinquency Up from Year Ago
Although serious delinquency on first and second mortgages maintained from the prior month, deterioration was noted in the second-mortgage rate from a year earlier.
Jumbo Leads Rise in Mortgage Originations
A quarterly increase in home lending was led by a jump in jumbo originations. At the other end of the loan cycle, delinquency declined.
HELOC Originations Slip Despite Overall Rise
Although quarterly mortgage production has been on the rise, the same can't be said for home-secured credit lines.
Subprime Leads Lates Lower as FHA Foreclosures Up
Quarterly delinquency and foreclosure rates have fallen for most types of home loans -- especially subprime mortgages. But the foreclosure rate on government-insured loans worsened.
Greater Loss Projections for Some Non-QMs
Securitized home loans that don't meet the Qualified Mortgage standard and have income documentation exceptions are expected to have greater losses.