Banks Tighten Residential Lending Requirements
The share of banks that tightened underwriting guidelines on residential loans increased this past year. But the trend on home-equity and commercial mortgage lending was more favorable.
Mortgage Delinquency Creeps Up
Serious residential delinquency rates on both junior and senior liens moved minimally higher last month. Loan performance, however, remains better than last year.
Home Loan Performance Improving
The level of distressed first mortgages has fallen to multi-year lows. While home-equity performance is also improving, outstandings are eroding.
Non-Agency Programs Expanded at Stonegate
Improvements to Stonegate Mortgage Corp.'s non-agency product menu include higher loan-to-value ratios and enhanced jumbo programs.
Bank Employment and Mortgage Originations Decline
The number of federally insured banks in business continued to diminish -- as did mortgage originations, assets and employees. Earnings and commercial mortgage holdings, however, grew.
Healthy Quarter for Mortgage Lending
Residential loan production rose for the first time in more than a year, while the nation's book of business grew and serious delinquency declined.
Record Low 2nd Mtg Delinquency, 1st Mtg Rate Up
The rate of serious delinquency on second mortgages fell to the lowest level on record. But the first-mortgage rate deteriorated for the third consecutive month.
U.S. Mortgage Performance Continues to Improve
Both the rate of mortgage delinquency and the rate of foreclosures have fallen to their lowest levels in nearly seven years.
Mortgage Mergers Wagon Rolling
As mortgage firms shift from organic growth to expansion through strategic acquisitions, some big deals have recently emerged.
Large Banks Ease Credit Standards More than Small Ones
Large banks are becoming more flexible than their smaller counterparts on residential lending. A similar trend was reported for commercial mortgages.