Tag: finance

A report was issued about the progress made on the development by the government-sponsored enterprises and their regulator of a Common Securitization Platform and single security.

The 2016 Conservatorship Scorecard for Fannie Mae, Freddie Mac, and Common Securitization Solutions requires the first use of the CSP software to be implemented in 2016.

The software implementation outlined in the scorecard is part of Release 1, whereas Release 2 calls for the CSP to begin being utilized to issue single securities within two more years.

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From:: Financing

Late payments on home-equity and mobile-home loans that are held by financial institutions turned higher during the first-three months of this year.

Closed-end consumer loans that are owned by U.S. banking institutions had a 30-day delinquency rate of 1.38 percent as of the first quarter of 2016.

The past-due rate, which reflects performance on eight installment loan categories, retreated 3 basis points compared to the final quarter of last year.

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From:: Financing

Three mortgage service providers are planning conventions for their users, while mortgage regulators and the Government National Mortgage Association are hosting events.

The Monarch Beach Resort in Dana Point, California, is the location of CoreLogic Inc.’s RiskSummit 2016. The event begins on July 24 and concludes on July 26.

Speakers include former Department of Homeland Security secretary Michael Chertoff, former Minnesota governor Tim Pawlenty and CoreLogic Chief Economist Frank Nothaft.

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From:: Financing

The number of consumers to file bankruptcy was minimally higher on a month-over-month basis but down from a year earlier.

Consumers and businesses filed a combined 66,284 new cases in U.S. Bankruptcy Courts across the nation during June.

National bankruptcy filings were hardly changed from 66,094 a month earlier but were fewer than 69,772 twelve months earlier.

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From:: Financing

Although monthly government-insured reverse mortgage volume inched up last month, originations in the sector remain low by historical standards.

Home-equity conversion mortgages that were endorsed by the Federal Housing Administration numbered 3,771 during the month of June.

Activity was modestly higher than during the previous month, when FHA endorsed 3,646 HECMs — the fewest endorsements since August 2014.

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From:: Financing

Applications for residential loans turned sharply higher this past week thanks to Brexit, and ongoing falling rates could mean further improvement ahead.

The Market Composite Index climbed a seasonally adjusted 14 percent in the week ended on July 1 compared to the report issued seven days earlier.

Without any seasonal adjustments, the index — a measure of mortgage loan application volume — was still down 14 percent from the week ended June 24.

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From:: Financing

The yield on the 10-year Treasury note fell to the lowest level on record — likely driving down fixed interest rates on home loans near their all-time lows.

Global uncertainty over Great Britain’s recent vote to depart from the European Union dragged down stock prices, oil prices and bond yields Tuesday.

Data from the Department of the Treasury indicate that the yield on the 10-year Treasury note plummeted to 1.37 percent as of today’s market close.

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From:: Financing

Despite declines in another adjustable-rate mortgage index, the Monthly Treasury Average rose to a level not seen in more than six years.

An analysis of Federal Reserve Board data by Mortgage Daily determined the MTA to be 2 basis points less during June than a month earlier.

Historical data from the Fed indicate that the index has not been as high as it was as of last month since October 2009 — a record-low at the time.

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From:: Financing

A new type of mortgage security that is targeted at aging Baby Boomers seeking to enhance their retirement income is being brought to market.

The instrument, known as a prime-rated individual mortgage-backed obligation — or PRIMO — promises low risk at yields of 6 percent or more.

Each security is backed by a high-quality residential loan with a prime rating and has a high level of transparency and unprecedented customization.

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From:: Financing

Securitizations completed on behalf of the Government National Mortgage Association were the highest they’ve been in almost one year.

Including residential and commercial real estate activity, issuance of Ginnie Mae mortgage-backed securities totaled $45.185 billion during June.

The findings were based on a Mortgage Daily analysis of monthly operational data released Tuesday by the government-owned organization.

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From:: Financing