Foreclosures | Mortgages | Financing
Hundreds of hirings are planned for a mortgage service provider that is opening up a location in Florida next month.
Genpact — which provides a variety of services across multiple industries — is opening a new office in Jacksonville, Florida.
A Genpact spokeswoman said that when the office opens, it will provide mortgage processing services for one particular client.
From:: Financing
Monthly sales of pre-owned residential properties rose. Record prices are being paid for existing homes as properties fly off the market. Time on market was a record low.
On a preliminary basis, there were 555,000 existing single-family homes, townhomes, condominiums and co-operatives sold during May.
That was greater than the revised 447,000 in the preceding month and the single best month for existing home sales since June 2016’s volume of 582,000.
From:: Financing
Five hundred U.S. home lending jobs are being created by Nationstar Mortgage LLC as the company changes its staffing strategy.
The Dallas-based company reported Wednesday that it is moving its international call center operations back to the United States.
Nationstar says it maintains domestic call centers in Chandler, Arizona; Dallas; and Longview, Texas — which opened last year.
From:: Financing
Refinances accounted for a smaller share of last month’s home lending. Conventional refinance share was the widest. Conventional closing rates and turn times were the best.
Conventional loans made up 63 percent of all single-family loans that were closed during May. That was moderately thinner than the 64 percent share the same month last year.
But the share of production that was for mortgages insured by the Federal Housing Administration was no different than in May 2016, when it was also 23 percent.
From:: Financing
The servicing of thousands of active home-equity lines of credit that are securitized is being transferred from Ditech Financial LLC next month.
In all, the Fort Washington, Pennsylvania-based firm is transferring servicing on 3,020 HELOCs that are part of three residential mortgage-backed securities.
Those trio of RMBS were issued by RFMSII Home Equity Loan Trust. They include series 2006-HSA4, 2006-HSA5 and 2007-HSA1.
From:: Financing
A modest up tick in applications for mortgages was driven by accelerating refinance activity. But applications for home purchase financing turned lower.
A seasonally adjusted increase of less than 1 percent from the preceding seven-day period was recorded for the Market Composite Index for the week ended June 16.
Even without and adjustments for seasonal factors, the index — a measure of retail residential loan application volume — increased by under a percent.
From:: Financing
A four-year-old marketplace home lender that was created to transform the manual mortgage process is closing down. Among the factors cited for the demise was regulation.
Sindeo Inc., a San Francisco-based private company, was originally co-founded by Ori Zohar and Sindeo Chief Executive Officer Nick Stamos in 2013 as MoneyPark Inc.
A January 2015 announcement called the company a “modern mortgage marketplace” and promised to make the home lending process more timely, competitive and transparent.
From:: Financing
Nearly $300 million in re-performing and moderately delinquent single-family mortgages have been sold with a securitization to follow.
The transaction involves 1,262 Freddie Mac residential loans that have an aggregate unpaid principal balance of $292 million.
Marketing of the loans began on May 17, and an auction followed. The winning bidder for the loans was Towd Point Master Funding LLC.
From:: Financing
Several mortgage banking firms have been recognized as some of the best employers in their communities. One has been designated as the best technology employer.
Computerworld has crowned Quicken Loans Inc. as No. 1 on its Best Places to Work in IT ranking, a June 12 press release said. This was the fifth straight year at the top of the list.
Linglong He, chief information officer at the Detroit-based lender, noted in the statement that the company’s culture, as well as innovation, play a big role in its standing.
From:: Financing
After declining to the lowest level of any quarter during the prior 16 years, credit risk on new single-family loans rose. Rising rates contributed to the deterioration.
The Housing Credit Index, which is a measure of trends for six mortgage credit risk attributes on new originations, was 105.6 as of the first quarter of this year.
That was worse than in the previous three-month period, when the index was at a level indicating that loan quality was the highest it had been since 2001.
From:: Financing