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.
Home-Equity Assets Decline
The amount of home-equity assets owned by lenders has fallen, but so has the volume of seriously delinquent loans.
Wholesale AE, Broker-Husband Admit to Mortgage Fraud
A subprime wholesale lending account executive and her husband, who was a mortgage broker, have admitted to defrauding her now-defunct employer using fake income and employment documents.
Mortgage Business Slows at Regions
In line with the overall industry trend, quarterly mortgage production at Regions Financial Corp., was lower. Also moving lower was home loan delinquency.
Mortgage Delinquency Deteriorates
Although the rate of foreclosures was lower last month, overall residential loan performance still deteriorated -- though delinquency remains lower on a year-earlier basis.