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MSRs For Sale On Over $2 Bil in Agency Loans
Loan servicing rights on more than $2 billion in agency home loans are being marketed for sale. The loans are geographically distributed, and nearly two-thirds of loans were third-party originations. The offering includes mortgage-servicing rights...
Originations Up at US Bank, Further Gain Likely
Quarterly home-lending volume moved up at U.S. Bancorp and appears to be headed even higher. As corporate income rose, mortgage earnings were lower. The mortgage servicing portfolio contracted. The Minneapolis-based financial institution's...
FHA and Refi Share Down as Conv, Purchase Share Up
As refinance share fell to a new low last month, more loans in process closed. Turnaround lengthened by a day, and government-insured share fell over the past year as conventional share rose. Conventional mortgages accounted for exactly two-thirds...
Midwest Leads Drop in Home Construction, Permits
Midwest and multifamily properties led a country-wide decline in new housing permits and new home construction. The West, meanwhile, kept the pace of completed construction from slowing nationally. June saw 119,800 housing units authorized in...
Mortgage Applications Pulled Down by Purchases
A week-over-week drop in new mortgage applications was fueled by a decline in purchase-money applications as refinance activity ascended. The jumbo-conforming spread widened, and government share thinned. During the seven-day period that finished...
1st Mortgage 90-Day Rate Down 3 Mths in Row
Last month's rate of serious mortgage delinquency moved lower and has shown improvement now for three consecutive months. Miami's drop was biggest. Based on the Composite Consumer Credit Default Index, delinquency of at least 90 days on consumer...
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Business Sinks to Nearly 4-Year Low at Freddie Mac
It has been nearly four years since secondary activity at the Federal Home Loan Mortgage Corp. was as slow as it was last month. Delinquency, meanwhile, dipped. In its Monthly Volume Summary: February 2018, McLean, Virginia-based Freddie Mac...
2017 Biggest Mortgage Lenders and Servicers
In the latest ranking of mortgage lenders and servicers, non-bank lenders gave up market share last year as overall mortgage originations turned lower on a quarterly and annual basis. During the fourth-quarter 2017, home lenders originated an...
Mortgage Firm Settles Investor Fraud Allegations
A company that purportedly invests in real estate notes has agreed to settle charges that it misled investors and used the capital raised for purposes other than promised. McKinley Mortgage Co. LLC is an investment advisory firm in the business of...
Reverse Mortgage Lender Settles With HUD
A settlement has been reached with a reverse mortgage lender that allowed someone to sign loan documents even though he didn't have the authority to do so. MetLife Home Loans LLC previously underwrote and closed a home-equity conversion mortgage....
2016 Residential Production by Quarter
2016 Residential Production by Quarter Last Updated March 25, 2018 9:42 PM Central Quarterly Residential Originations by Lender residential...
CMBS Delinquency Declines
The rate of late payments on securitized commercial real estate loans declined last month, though there was deterioration on apartment and retail property loans. On loans that are part of commercial mortgage-backed securities, the rate of 60-day...
Mortgage Servicing Profits Worsen, Efficiency Down
Earnings at independent mortgage servicers deteriorated as loans serviced per employee moved lower. Small servicers were hurt the most. Fourth-quarter 2017 servicing income at independent mortgage servicers and mortgage banking subsidiaries of...
Mortgage Production Profits Sink With Originations
As waning refinances negatively impacted overall single-family loan originations, quarterly production profits at independent home lenders sank. Net production income at independent mortgage banks and mortgage subsidiaries of chartered banks was 12...
New Home Inventory Largest in 9 Years
Even though there was little change in national new home sales, sales sank in the West and soared in the Northeast. The inventory of new homes for sale reached a 9-year high. On a preliminary basis, the sale of 51,000 new single-family homes were...
How to Get Lowest Mortgage Rates
Securing a home loan is probably one of the most stressful parts of buying a new home. To get the best loan possible, it's important to know what factors affect interest rates -- a fraction of an interest rate can translate into thousands of...
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