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.
Refinances Push Up Quarterly Mortgage Originations
Despite a reduction in purchase financing, overall quarterly home lending moved higher on a year-over-year basis.
Mortgage Risk Rises as Cashout Transactions Grow
An increase in the volume of cashout originations is creating more risk for mortgage investors, according to a new ratings agency report.
Regions Servicing, Annual Mortgage Originations Up
Last year's home-lending volume at Regions Financial Corp. increased as servicing grew. But mortgage delinquency turned higher.
Jumbo Leads Quarterly Rise in RMBS Issuance
Non-agency mortgage securitization volume accelerated during the final-three months of last year, with jumbo activity leading the way.
1st Mortgage Delinquency Worsens Again
For the second month in a row, the rate of seriously past-due payments on residential loans in first-lien position moved higher. The second-mortgage rate also rose.
Mortgage Lates Surge, Foreclosures at 9-year Low
Even though the foreclosure rate fell to a nine-year low and foreclosure starts sank to a 28-year low, quarterly 30-day mortgage delinquency spiked.
Wholesale Lenders Offer Nonprime, High LTV Jumbo
New programs recently being offered by wholesale mortgage lenders include nonprime programs, high loan-to-value jumbo loans and a product for foreign national borrowers.