BofA's Appeal in Hustle Lawsuit Opposed by DOJ
The federal government has voiced its opposition to an appeal filed by Bank of America Corp. in a lawsuit involving loans sold from Countrywide Financial Corp. to the government-sponsored enterprises.
Serious Mortgage Delinquency Deteriorates
Serious delinquency on consumer credit took a turn for the worse last month, and mortgage loans were no exception.
Purchase Mortgage Production Soars at Regions
Quarterly home lending activity at Regions Financial Corp. popped thanks to a nearly one-half surge in purchase financing. In addition, company earnings got better. But mortgage delinquency worsened.
Real Estate-Related Consumer Delinquency Down
Banks did a good job of taming delinquency on consumer credit during the first three months of this year, and some real estate products performed best.
Elevated HELOC Risk for Banks
The country's banks face elevated risk over the next two years on their holdings of home-equity lines of credit.
Q1 Mortgage Originations Soar from Year Earlier
Residential loan originations -- including traditional mortgages and home-equity products -- leapt during the first three months of this year. First mortgage activity supported the surge.
Record Low Serious Mortgage Delinquency
The rate of serious delinquency on home loans stands at the lowest level on record. On just second mortgages, it was the second consecutive new low.
Subprime HELOC Lending Rises, Delinquency Down
Not only are borrowers doing a better job of paying on their residential credit products, but lenders are giving more credit lines to subprime borrowers.
Nice Improvement in Serious Mortgage Delinquency
The level of late payments on first mortgages was lower last month. A similar improvement in performance was made on second mortgages.
Mortgage Delinquency Solidly in Pre-Crisis Territory
The last time the rate of past-due payments on home loans was this low, Lehman Brothers Holdings Inc. was still in business.