Big Banks Suffer Bigger Decline in Mortgage Demand
A survey of banks found that demand for jumbo mortgages has recently retreated, while demand was up for credit lines secured by residential properties. By size, larger banks have seen a bigger drop in overall demand than their smaller counterparts.
Subprime Mortgage Originations Growing
Subprime mortgage lending was up last year as home lenders refined how they determine which borrowers should be approved for a loan.
Bids Being Taken on Closed HELOC Portfolio
Potential investors of residential assets have the opportunity to make competitive bids on a portfolio of nearly a thousand closed home-equity lines of credit.
Mortgage Wholesaler Launches Non-QM Programs
Multiple mortgage lending programs that don't meet Qualified Mortgage requirements are being offered to mortgage loan brokers.
Bad Refinance Costs Subprime Lender Nearly $400k
A subprime mortgage lender that lost nearly $400,000 from a refinance gone bad has lost an appeal to recover the money from JPMorgan Chase & Co.'s banking subsidiary.
Mortgage Delinquency Mixed, Dallas Deteriorates
First mortgage performance worsened from the previous month, while the second-mortgage rate rose from a year earlier. Dallas saw significant deterioration.
Delinquency Up on HELs, Down on HELOCs
The quarterly performance of bank-owned closed-end home-equity investments worsened. But an improvement was reported for open-end home-equity assets.
Berkshire Unit Denies Lending Discrimination Claims
The mobile home unit of Berkshire Hathaway has issued a statement denying that it or its lending subsidiary use discriminatory practices.
Economist Discusses Banks, Ratings and Subprime
His name is on one of the most closely watched home price indices in the country, and he is a Nobel laureate for his work in economics.
IL Court Awards Non-Borrower Right of Rescission
A non-borrower who was on title to a property that was used as security on a mortgage has successfully appealed her right to a rescission years after the loan was made.