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.
Barclays Agrees to Subprime RMBS Settlement
Barclays has agreed to a multi-billion-dollar settlement to resolve allegations that it misled investors about the quality of non-prime residential mortgage-backed securities.
Performing, Non-Performing Mortgages For Sale
A pool of first and second mortgages are being offered for sale to the highest bidder. Included in the offering are performing and non-performing loans.
Mortgage Events Include Workshops, Tech Conference
In addition to two private-lending conferences, people in the mortgage industry will also be attending a credit risk workshop and a technology convention over the next 90 days.
Pool of Investor Mortgages Being Auctioned
A pool of non-owner occupied home loans with a three-state concentration are being auctioned off to the highest bidder.
Some Credit Scores Rise After Changes to Reporting
Changes to the reporting of public records on credit bureaus last year have begun to yield improvements to credit scores for some consumers. Even some subprime consumers moved into prime territory.
IRS Clarifies Home Equity Interest Deductibility
A clarification has been issued by the Internal Revenue Service about the deductibility of interest that is paid on home-equity and junior-lien products.