A disparity that had once existed between larger and smaller sellers on guarantee fees charged by the government-sponsored enterprises has been eliminated.
In general, G-Fees charged by Fannie Mae and Freddie Mac during 2015 were little changed compared to the G-Fees in place as of one year previous.
G-Fees remained similar to 2014 even though the GSEs were directed by their regulator in April 2015 to eliminate adverse market charges in place since 2008.
Although the underlying yield on the one-year Treasury note has been lower lately, the Monthly Treasury Average still moved higher.
As of July 2016, the MTA was was 0.50750 percent based on a Mortgage Daily analysis of Federal Reserve Board data.
The index hasn’t been this high since October 2009, when it was 0.54417 percent. That was the lowest level on record at the time.
In an interview, the chief executive officer of FICO talked about how his company’s credit scoring model compares to some newer methods.
William Lansing, CEO of San Jose, California-based FICO, is confident that his company’s model will continue to dominate the market.
He commented about how valuable things like social media and income are in helping lenders to predict whether borrowers will repay them.
Legislation has been passed by Congress that will make it easier to finance condominiums using government-insured home financing.
Before heading out for summer recess, the Senate passed H.R.3700, the Housing Opportunity Through Modernization Act of 2016.
The Senate’s vote came after the House of Representatives passed the legislation by a vote of 427-0 earlier in the congressional session.
While there was no change at the top of the list of best mortgage servicers, Ocwen Financial Corp.’s servicing unit landed at the bottom.
On a thousand-point scale, the average customer satisfaction score for the nation’s largest residential loan servicers was 755 for 2016.
Home-loan borrowers’ satisfaction with their mortgage servicers has improved compared to a year earlier, when the average score was 718.
The Federal Home Loan Mortgage Corp. led a month-over-month rise in the securitization of agency mortgages, which soared to a three-year high.
Issuance of fixed-rate mortgage-backed securities on behalf of Fannie Mae, Freddie Mac and Ginnie Mae totaled $126.884 billion during July.
Securitization activity last month was greater than it has been during any month since July 2013, when fixed-rate issuance came to $139.366 billion.
Despite a slight bump in overall quarterly commercial real estate lending, the volume of securitization conduit fundings turned sharply lower.
Compared to the first quarter of this year, commercial mortgage originations during the period from April 1 through June 30 jumped 17 percent.
A more telling comparison, the one between the second quarter of last year and the second quarter of this year, had CRE production up 1 percent.
In line with interest rates in general as of late, the monthly 11th District Cost of Funds Index turned modestly lower.
COFI, which is utilized as an index for a small share of adjustable-rate mortgages, landed at 0.69 percent in June.
That was up ever so slightly when compared to one month previous, a month that saw an index of 0.691 percent.
Monthly residential business moved higher at the Federal Housing Administration, but so did the rate of past-due payments. Commercial lending activity, however, was mixed.
As of May 31, FHA insurance was in force on 8,448,630 residential loans — including single-family loans, home-equity conversion mortgages and Title I loans — for $1.2414 trillion.
FHA’s book of business grew from a month earlier, when the total was 8,447,949 loans for $1.2397 trillion, and a year earlier, when it stood at 8,319,924 loans for $1.2011 trillion.
New quarterly business more than doubled at Arch Mortgage Insurance Co., while the book of business grew and delinquency moved lower.
Earnings before income taxes at parent Arch Capital Group Ltd. totaled $263 million during the period from April 1 through June 30 of this year.
Income improved from the first quarter, when earnings were $192 million, and from the second-quarter 2015, when $133 million was earned.