Refis Drive Up Mortgage Originations at Regions
While purchase mortgage financing dropped, a rise in refinancing moved total home lending activity higher at Regions Financial Corp.
Serious Mortgage Delinquency Rate Tumbles
Serious delinquency on first mortgages tumbled last month, while the delinquency rate on second mortgages made an even bigger improvement.
Home Equity Delinquency Down
In the final quarter of last year, the past-due rate on home-equity products improved. But overall consumer performance wasn't so good.
HELOC Market Heats Up
Although outstanding balances on all home-secured credit products diminished, new activity on credit lines secured by residential properties is strengthening.
1st Mortgage Delinquency Down, 2nd Mortgage Up
Although the rate of serious delinquency on first mortgages improved for the first time in seven months, the second-mortgage rate was worse for the fourth consecutive month.
Senate Bill Seeks to Ease Lending on Mfg Housing
A quartet of senators are behind a bill introduced this week that is intended to ease restrictions on financing manufactured homes.
Merger Creates Finance Company Giant
Former subprime home lending giants that have since abandoned the mortgage business are merging through an acquisition.
Credit Challenged Mortgage Program Launching
A new home lending program that targets credit-challenged borrower prospects is being made available through the retail and wholesale lending channels.
Quarterly Delinquency, Foreclosure Rate at 7-Yr Low
The quarterly rate of 30-day delinquency and foreclosures fell to the lowest levels in seven years. Past-due payments on government-insured loans, however, worsened.
HELOC Lending on the Rise
Although traditional mortgage originations have generally been declining, home-secured credit line business has been on the rise. But while some subprime activity has crept into closed-end mortgage lending, credit line activity has been limited to prime borrowers.