Warning Issued on HELOC Performance
Cracks are beginning to appear in the nation's book of junior lien credit lines, and the problem could grow.
Dodd-Frank Drives Hard Money Firm Out of OO Lending
Requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act are forcing at least one hard money lender to abandon owner-occupied transactions.
City of LA Sues Another Lender
For the third time in two days, the city of Los Angeles has sued a large mortgage lender over allegations that discriminatory practices led to a wave of foreclosures.
FNF Servicer Rating Raised
Thanks to improvement in its operations compared to its peers, FNF Servicing Inc. saw its mortgage servicer rating improved.
Residential Loan Performance Improves
After surging in September, delinquency on home loans turned lower. Early stage delinquency led the month-over-month decline, and the foreclosure rate drove a year-over-year improvement.
Mortgage Delinquency Up Again
For the second month in a row, mortgages considered seriously delinquent accounted for a bigger share of the U.S. portfolio. Junior lien performance additionally worsened from a year earlier. Among big cities, Dallas saw the most deterioration.
Continued Progress in Residential Loan Performance
Residential loan servicers continue to make progress on the level of mortgage delinquency and the foreclosure inventory rate.
Mortgage LO Escapes Prison Sentence
A former loan officer has avoided prison after admitting that she deceived her employer on second mortgage approvals in order to increase her commissions. Her attorney blamed her crime on the times.
Diminishing Refis Do Little to Ease Credit Standards
The decline in residential loan business that resulted from the recent increase in interest rates did little to convince bankers to loosen their purse strings.
Report Cautions About Rapidly Growing Servicers
Three fast-growing mortgage servicers are the focus of a ratings agency report that raises concerns about the operational risk that accompanies such rapid growth.