Tag: finance

The government insured slightly fewer home-related loans in the most-recent month of activity. Loan performance was also slightly worse on a month-over-month basis.

The Federal Housing Administration endorsed 101,742 loans — including single-family loans, reverse mortgages and Title I loans — during April for $19.917 billion.

Activity, according to an analysis of Department of Housing and Urban Development data, slowed from March, when 104,181 loans were endorsed for $20.316 billion.

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From:: Financing

Mortgage servicing rights are being offered for sale on $1.5 billion in home loans backed by the government-sponsored enterprises.

Servicing on 8,577 residential loans with a combined principal balance of $1.488 billion is available to the servicer with the best bid.

Fannie Mae “A/A” mortgages account for 79 percent of the loans to be serviced, while another 21 percent are Freddie Mac “3 ARC loans.”

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From:: Financing

Mortgage servicing rights are being offered for sale on $1.5 billion in home loans backed by the government-sponsored enterprises.

Servicing on 8,577 residential loans with a combined principal balance of $1.488 billion is available to the servicer with the best bid.

Fannie Mae “A/A” mortgages account for 79 percent of the loans to be serviced, while another 21 percent are Freddie Mac “3 ARC loans.”

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From:: Financing

Three directors elected to Fannie Mae’s board include the former head of Wells Fargo & Co.’s mortgage lending operation.

The Washington-based secondary lender announced that its board of directors elected three new directors to join its board.

The company’s three new directors are reportedly “recognized industry leaders with deep and diverse housing finance expertise.”

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From:: Financing

A decline was reported for rates on residential loans this past week, and one indicator suggests that they might descend further.

At 3.60 percent, interest rates on 360-month fixed-rate loans averaged 6 basis points less than the did in the period a week earlier.

Those figures were based on the Freddie Mac Primary Mortgage Market Survey for the week that concluded on June 9, 2016.

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From:: Financing

A decline was reported for rates on residential loans this past week, and one indicator suggests that they might descend further.

At 3.60 percent, interest rates on 360-month fixed-rate loans averaged 6 basis points less than the did in the period a week earlier.

Those figures were based on the Freddie Mac Primary Mortgage Market Survey for the week that concluded on June 9, 2016.

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From:: Financing

Financial industry trade groups are questioning the regulator of Fannie Mae and Freddie Mac about potentially adding a language preference to the loan application.

A letter was sent from eight groups including the American Bankers Association, Mortgage Bankers Association and National Association of Federal Credit Unions.

The June 8 letter is addressed to Federal Housing Finance Agency Director Mel Watt. Fannie’s and Freddie’s chief executive officers were both copied in the letter.

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From:: Financing

According to at least one home price index out there, only four major areas have seen home prices return to pre-crisis levels.

That index is from Clear Capital, which provides home-price indices based on activity in 30 major U.S. housing markets as of May.

Among four metropolitan areas with record prices was San Jose, California, where the index was up 78 percent from a year earlier.

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From:: Financing

Walter Investment Management Corp. has disclosed that both its chairman and and its chief executive are leaving their positions.

Denmar J. Dixon was appointed chief executive officer and president in October 2015, replacing the retiring Mark J. O’Brien.

By the end of last year O’Brien would also retire from his post as chairman of the Tampa, Florida-based firm’s board of directors.

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From:: Financing

During the first quarter, the collective ratio of loan balances to property values improved — giving mortgage investors a safer position based on homeowner equity.

U.S. mortgage borrowers collectively owed $9.110 trillion in first and second liens as of the first quarter 2016, expanding from $9.062 trillion three months earlier.

The growth in mortgage debt outstanding was more dramatic compared to the same quarter 12 months earlier, when there were $8.841 trillion in residential loans.

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From:: Financing