Continued growth is being cited by Gateway Mortgage Group LLC for a recruiting campaign to add a hundred employees to its network of mortgage locations. The Jenks, Oklahoma-based mortgage banking firm originated $5.50 billion last year, up from $4.9 billion in 2016....
The volume of reverse mortgages insured by the federal government descended last month, leaving annual activity at the lowest level in 13 years. New appraisal requirements are likely to exacerbate the slowdown. During September, there were 2,880 home-equity conversion...
More than $500 million in loans owned by the Federal Home Loan Mortgage Corp. have been sold through the auction process. A majority of the loans have been modified and fallen delinquent again. Freddie Mac first announced the $655 million offering last month. The...
Ongoing losses in the government-insured reverse mortgage program have led to a new policy that will require a second appraisal on some transactions. In the Federal Housing Administration’s fiscal-year 2017 Annual Report to Congress, the negative capital ratio...
Serious mortgage delinquency on loans backed by the Federal National Mortgage Association tumbled to the lowest level in 11 years. Monthly business also improved. As of Aug. 31, Fannie Mae’s total book of business was $3.2669 trillion. Comprising the total was a...
