Foreclosures | Mortgages | Financing
Despite slowing loan production at Guild Mortgage Co., the company experienced growth in its servicing portfolio and its staffing.
The real estate lender serviced 155,129 residential loans with an aggregate principal balance $29.989 billion as of Dec. 31, 2016.
San Diego-based Guild disclosed the data as part of the Mortgage Daily Fourth Quarter 2016 Mortgage Origination Survey.
From:: Financing
A healthy quarterly expansion was recorded for employment in the residential lending industry. Faring best was the Golden State, though the Lone Star State also made impressive gains.
Staffing in real estate finance was an estimated 677,400 as of Sept. 30, 2016, according to an analysis conducted as part of the Mortgage Daily Third Quarter 2016 Mortgage Employment Index.
Estimated industry headcount expanded from three months earlier, when the total came to 665,600. The increase was far more significant versus a year earlier, when the number was 650,100.
From:: Financing
A concurrent flow servicing offering could work out to mortgage servicing rights on as much as $2.250 billion in government-sponsored enterprise loans.
The offering is for $125 million per month. The seller is looking for a 12-to-18 month future flow delivery with a minimum six-month commitment.
On a weighted-average basis, the FICO score on the home loans is 754, the original loan-to-value ratio is 79.0 percent, and the service fee is 0.25 percent.
From:: Financing
President Donald J. Trump has signed an executive order in a move intended to scale back the Dodd-Frank Wall Street Reform and Consumer Protection Act.
On Friday, Trump signed executive orders, including one that could impact the future of the Consumer Financial Protection Bureau and its director, Richard Cordray.
“Today we are signing core principles for regulating the United States financial system,” Trump said just before signing. “It doesn’t get much bigger than that, right?”
From:: Financing
For the 10th month in a row, the size of the nation’s mortgage workforce has expanded. Healthy job growth was reported for all industries.
In January, the U.S. unemployment rate came in at 4.8 percent, according to data released Friday by the Bureau of Labor Statistics.
Although the unemployment rate moved higher compared to 4.7 percent the previous month, it was down from 4.9 percent in January 2016.
From:: Financing
Over the past week, there was hardly any change in fixed rates on residential loans. More of the same is likely during the upcoming week.
In Freddie Mac’s Primary Mortgage Market Survey for the week that ended on Feb. 2, thirty-year fixed rates averaged 4.19 percent.
Long-term rates were the same as in the previous week’s report. But the 30 year was higher than 3.72 percent in the same week last year.
From:: Financing
Quarterly and annual mortgage production fell from the prior period at Alaska USA Federal Credit Union. Servicing and staffing, meanwhile, were little changed.
As of year-end 2016, the Anchorage, Alaska-based organization serviced 27,694 residential loans with a collective principal balance of $5.259 billion.
Those details, as well as other operational statistics, were presented as part of the Mortgage Daily Fourth Quarter 2016 Mortgage Origination Survey.
From:: Financing
Although there was a month-over-month decline in federally insured reverse mortgage production, activity accelerated on a year-over-year basis.
During the first month of the new year, endorsements of home-equity conversion mortgages by the Federal Housing Administration came to 4,578 units.
Volume slipped from the final month of last year, when 4,658 HECMs were endorsed. But business was improved over 3,890 in January 2016.
From:: Financing
Topics to be covered at several upcoming events tied to home lending include mortgage servicing rights, reverse mortgages and social media. Compliance is also on the agenda.
On Feb. 7, the Office of the Comptroller of the Currency is holding its Risk Governance workshop at the Miami Marriott Dadeland in Miami.
The workshop provides practical information for directors to effectively measure and manage risks and also focuses on the OCC’s approach to risk-based supervision and major risks in the financial industry.
From:: Financing
After soaring in the final month of last year, securitizations at Fannie Mae sank in the first month of this year — leading overall agency issuance lower.
January 2017 saw $131.788 billion in fixed-rate mortgage-backed securities that were issued on behalf of Fannie, Freddie Mac and Ginnie Mae.
Activity retreated from the previous month, when aggregate loan securitizations at the trio of government-controlled entities came to $156.852 billion.
From:: Financing