Mortgage Daily

Published On: October 25, 2018

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Last Updated October 25, 2018 4:58 PM Central

 

Business Falls to 6-Month Low at Freddie
New business at the Federal Home Loan Mortgage Corp. retreated to its lowest level in six months. Delinquency, meanwhile, remained at its lowest level in a decade.Large Agency MSR Offering Hits Market
Bids are being sought for servicing rights on a large portfolio of agency mortgages. The offering has a moderate concentration of Golden State and Sunshine State loans.Mortgage Revenues Sink at Flagstar
Revenues at Flagstar Bancorp Inc.’s home-lending business sank. But the financial institution has grown its mortgage asset and servicing portfolios over the past year. New originations, including correspondent business, moved higher.

Retail Drives Down SunTrust’s Home Lending
A sharp decline in quarterly retail originations at SunTrust Banks Inc. drove overall home lending lower as mortgage earnings sank even though correspondent acquisitions were up. But the size of the financial institution’s mortgage servicing portfolio has increased over the past year.

3-Yr Low Ginnie Issuance as Book Surpasses $2 Tril
Annual securitizations were the lowest they’ve been in three years at Ginnie Mae. Jumbo issuance plunged by a third, but reverse mortgage activity was higher. The government-owned corporation’s book of business broke $2 trillion.

Another GSE MSR Offering Hits Market
For the second time in as many months, an offering of mortgage-servicing rights on close to $4 billion in government-sponsored enterprise loans with a Texas concentration has hit the market.

Chase’s Mortgage Earnings Sink, Lending Edges Up
A modest quarter-over-quarter rise in single-family lending at JPMorgan Chase & Co. , including correspondent acquisitions, didn’t translate into more profit for the segment. Mortgage holdings expanded, and delinquency improved.

MSRs on Nearly $1 Billion in Ginnie Loans for Sale
Mortgage servicing rights are being offered on nearly 1 billion in Government National Mortgage Association loans. Most of the properties are located in the Golden State.

Large Non-Performing GSE Portfolio Sells
A significant portfolio of non-performing government-sponsored enterprise single-family loans that hit the market last month has found a buyer.

Freddie Sells Over $500 Mil in Nonperforming Loans
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.

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