Mortgage applications continued to hover around the same level this past week. The 1.2% increase follows a 0.2% decline last week and a 3.2% decline the week before that. …read more
From:: Real Estate Wire
$6 billion Fannie, Freddie bulk servicing portfolio available for sale
Buyers looking to get their hands on some Fannie Mae and Freddie Mac mortgage servicing rights have that opportunity, as a $6 billion bulk residential mortgage servicing rights portfolio that features loans backed by Fannie Mae and Freddie Mac is available for sale. …read more
From:: Real Estate Wire
Fannie Mae updates tech to spur more mortgage modifications
As part of an effort to allow more struggling borrowers to receive a mortgage modification, Fannie Mae announced updates to its procedures, which it says will increase both the number of mortgage modifications it supports and the speed in which those modifications are completed. …read more
From:: Real Estate Wire
San Francisco Federal Credit Union unveils zero-down jumbo mortgages
Citing the struggle to save money that many San Francisco residents face due to the city’s skyrocketing housing costs, one local lender is going to extreme measures to try to help area residents buy a home. San Francisco Federal Credit Union’s new loan program will allow San Francisco-area borrowers to finance up to 100% of their mortgage – with no requirement for mortgage insurance – on loans up to $2 million. …read more
From:: Real Estate Wire
Appraisal volume recovers some of last week’s drop
While this week recovered some of the giant loss in volume from Thanksgiving, it fell a bit short of bringing the volume up to the levels seen the weeks before the holiday. …read more
From:: Real Estate Wire
Ex-NFL star and his 74-year-old mother ordered to repay $615K for mortgage fraud
Irving Fryar, who spent 16 years in the National Football League, starring for the New England Patriots, Miami Dolphins and Philadelphia Eagles during his career, and his 74-year-old mother were ordered to pay $615,600 in restitution to five lenders that were targets of a scheme that saw Fryar allegedly take out six home equity loans his mother’s home – at the same time. …read more
From:: Real Estate Wire
It’s still profitable to originate mortgages
While mortgage profits were slightly down and costs were marginally higher in the third quarter when compared to the second quarter, levels were still strong compared to last year. The latest numbers from the Mortgage Bankers Association dig into the minute details of how the business is holding up, and looking at the numbers, it wasn’t a bad third quarter. But will these levels stay? …read more
From:: Real Estate Wire
Freddie Mac sells off $1.1 billion in non-performing loans
Freddie Mac announced Tuesday that it sold off 5,311 seriously delinquent loans from its investment portfolio. The loans carry an unpaid principal balance of approximately $1.1 billion. The sale, which was initially announced last month, had five pools of loans being sold to several different buyers, including one that has become familiar in sales like these. …read more
From:: Real Estate Wire
Kim Kardashian, Taylor Swift won big in 2015 housing
Off the stage and away from the camera, these celebrities are also conquering the world of housing, slowing building up substantial portfolios of real estate properties. On the flipside, the list also includes a few celebrities that aren’t doing so well. …read more
From:: Real Estate Wire
Freddie Mac publishes single-family loan-level data for all fixed-rate mortgages
Freddie Mac announced Monday that it is making single-family loan-level data publicly available for all fixed-rate mortgages as part of an effort to provide investors with more information about its credit risk-sharing deals. …read more
From:: Real Estate Wire