Foreclosures | Mortgages | Financing
A residential mortgage-backed securities transaction includes nearly $2.7 billion in jumbo and agency loans from JPMorgan Chase & Co. units.
Chase Mortgage Trust 2016-2, otherwise known as CMT 2016-2, includes 8,953 prime jumbo and agency conforming loans for $2.65 billion.
The agency and non-agency mortgages were originated by JPMorgan Chase Bank, N.A., or by its correspondent clients based on its guidelines.
From:: Financing
The monthly confidence level among the country’s home builders was hurt because of expected traffic and weakness in the South.
July saw a seasonally adjusted Housing Market Index of 59. The index was down one point from the previous month’s number.
The Housing Market Index, which reflects single-family home activity, has increased only two months this year: January and June.
From:: Financing
Maximum limits on single-family loans that are securitized by Redwood Trust Inc. have been boosted by one million dollars.
An update has been made by the Mill Valley, California-based company and the Mortgage Partnership Finance Program.
A joint announcement issued Monday indicated that the loan limit on mortgage loans for the MPF Direct product was raised.
From:: Financing
Yet another big home loan provider — Bank of America Corp. — realized much healthier quarterly mortgage production volume. The servicing portfolio continued to diminish.
From the first day of April to the end of June of this year, the BofA originated 25 percent less in new home loans than it did during the previous three-month period.
This information, as well as other operational and financial performance data, was provided in the Charlotte, North Carolina-based firm’s second-quarter earnings report.
From:: Financing
A quarter-over-quarter gain was made in home lending at The PNC Financial Services Group Inc., though there was a year-over drop.
In the three months that ended on June 30, PNC’s residential loan origination volume was 37 percent more than its first-quarter volume.
That was among many operational details disclosed by the Pittsburgh-based financial institution in its second-quarter 2016 earnings report.
From:: Financing
Like its big-bank peers thus far, Minneapolis-based U.S. Bancorp, realized a healthy boom in residential home loans during the recent quarterly financial period.
The lending institution finished the second quarter with 20 percent more in mortgage originations than was funded during the first three-months of this year.
This data, along with other operational and financial results, was gleaned from information documented in U.S. Bank’s second-quarter 2016 earnings report.
From:: Financing
In addition to 200 recent layoffs at Wells Fargo & Co. units, dozens of other mortgage layoffs at several locations across the country have recently been made.
April 3 was the last day for Wells Fargo employees in Raleigh, North Carolina, a filing with the Workers North Carolina Department of Commerce indicated.
Notification about the staff reduction, which which resulted in 87 job cuts, was required under the Worker Adjustment and Retraining Notification Act.
From:: Financing
Although long-term interest rates for residential loans turned slightly higher, new mortgage business soared to the highest level in 15 months. Jumbo activity had the biggest gain.
Mortgage Daily’s U.S. Mortgage Market Index, a reflection of average per-user rate-lock volume at clients of OpenClose, was reported at 209 for the week ended July 15.
New mortgage activity — which turned out to be the strongest it’s been since the week ended March 20, 2015 — increased by more than a quarter versus the previous week.
From:: Financing
With economists forecasting a rise in interest rates last year, mortgage companies were reducing their staffs in anticipation of lower originations.
But rates didn’t increase. Instead, mortgage rates turned lower — and have continued to fall — driving up the demand for refinances in the process.
Now, economic forecasts have refinance mortgage production strengthening as prospective borrowers line up to take advantage of lower rates.
From:: Financing
Quarterly mortgage production at Wells Fargo & Co. surged well ahead of the prior period’s numbers and even bested year-earlier originations.
During the three months ended June 30, the company closed 43 percent more in new residential loans than was funded during the first quarter.
This information and other operational and financial results were provided in the San Francisco-based financier’s second-quarter 2016 earnings report.
From:: Financing