GA Counties Sue BofA Over Foreclosure Losses
A trio of counties in Georgia have filed a federal lawsuit against Bank of America Corp. alleging that predatory lending practices led to foreclosures that cost them hundreds of millions of dollars.
Remodeling Activity Likely to Rise
Several factors point to increased residential remodeling activity, which could bode well for lenders that make home-equity lines of credit.
Mortgage Lending, Outstandings Grow, HELOCs Down
The quarterly volume of home loans originated and outstanding increased. But home-secured credit lines outstanding were down.
Delinquency, Foreclosure Rates Lowest in Years
It's been more than eight years since 30-day delinquency has been this low, while it's been nearly than long since the foreclosure rate was this low.
2nd Mtg Delinquency Surges, 1st Mtg Rate Also Up
An increase in the rate of serious delinquency last month on first mortgages was eclipsed by a surge in past-due payments on second mortgages.
Mortgage Lates Down, Super Prime Lending Leaps
Home loan performance continued to improve at an accelerating pace. Super-prime originations have risen by half over the past year.
BofA, Nationstar Sued Over Zero-Balance 2nd
A federal lawsuit against Bank of America Corp. and Nationstar Mortgage LLC alleges attempts to collect a second mortgage with no balance.
Mortgages Outstanding Not Growing With Originations
Although this year's home lending activity has been up, residential assets on the industry's collective balance sheet have not..
Non-QM Demand Weakens at Banks
A survey of lending officers at the nation's banks suggests that demand for loans which don't meet the Qualified Mortgage Rule standards weakened over the past three months.
Serious Mortgage Delinquency Rate Near Decade-Low
The serious rate of mortgage delinquency improved last month and now stands near the lowest level in a decade. Junior lien performance was also better.