Mortgage Bankers Report Improved Originations
The results are in, and the second quarter was a solid period for residential lenders -- with many reporting double-digit quarterly increases.
Serious 2nd Mortgage Delinquency Up from Year Ago
Although serious delinquency on first and second mortgages maintained from the prior month, deterioration was noted in the second-mortgage rate from a year earlier.
Jumbo Leads Rise in Mortgage Originations
A quarterly increase in home lending was led by a jump in jumbo originations. At the other end of the loan cycle, delinquency declined.
HELOC Originations Slip Despite Overall Rise
Although quarterly mortgage production has been on the rise, the same can't be said for home-secured credit lines.
Subprime Leads Lates Lower as FHA Foreclosures Up
Quarterly delinquency and foreclosure rates have fallen for most types of home loans -- especially subprime mortgages. But the foreclosure rate on government-insured loans worsened.
Greater Loss Projections for Some Non-QMs
Securitized home loans that don't meet the Qualified Mortgage standard and have income documentation exceptions are expected to have greater losses.
HEL Product Hits Market
After nearly fading away following the mortgage crisis, a new home-equity loan product has been introduced into the mortgage marketplace.
Non-Agency QM Lending Standards Easing
Bank lending standards are easing on loans that meet the Qualified Mortgage classification but are not agency-eligible -- especially at larger banks. Demand has grown stronger over the past three months for both residential and commercial real estate loans.
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.