Financing

Foreclosure.com

New business at the Federal Housing Administration fell to a nine-month low, and a further drop is likely. Delinquency deteriorated. Meanwhile, the book of business continued to grow.At the conclusion of November, FHA insurance in force was 8,596,795 residential loans for $1.3110 trillion, according to data from the Department of [...]
Tue, Jan 16, 2018
Source: Financing
The number of government-sponsored enterprise mortgages refinanced climbed to the highest level in nine months. Government-backed refinances, though, continued to fade.Data reported Tuesday by the Federal Housing Finance Agency indicate that 147,699 Fannie Mae and Freddie Mac loans were refinanced during November 2017.That worked out to the highest volume of [...]
Tue, Jan 16, 2018
Source: Financing
Unlike some of its peers, fourth-quarter income at The PNC Financial Services Group Inc. benefited from the new tax law. But home lending dropped, mortgage earnings fell and residential delinquency rose.Fourth-quarter earnings data released Tuesday indicate that income before taxes and non-controlling interests fell to $1.1 billion from $1.4 billion [...]
Tue, Jan 16, 2018
Source: Financing
The rate of serious delinquency on first mortgages inched higher but has remained stable for two years. The second-mortgage rate, however, has exploded over the past year.As of the close of last year, the Composite Consumer Credit Default Index had consumer credit delinquency of at least 90 days at 0.91 [...]
Tue, Jan 16, 2018
Source: Financing
Single-family lending slowed and is likely to fall further at Citigroup Inc. Also diminished was servicing and assets. A massive loss was tied to the new tax law.During the final three months of last year, the New York-based company earned $5.1 billion from continuing operations before income taxes.The New York-based [...]
Tue, Jan 16, 2018
Source: Financing