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Navy Federal Credit Union, the largest CU player in mortgages, funded $944 million of single-family loans in the second quarter, a 56% decline from the same period last year.
August 10 -
The Treasury Department late last week quietly corrected its loan performance findings on completed HAMP modifications, which show its results are decent, but nowhere as good as originally reported.
August 9 -
I recently got to chair the SourceMedia Buying and Selling Distressed Mortgage Portfolios Conference in New York City, and I can't imagine a hotter topic (except perhaps loss mitigation). Here's what I said to conference attendees to open the show.
August 9 -
A smaller percentage of U.S. homeowners had so-called "underwater mortgages" in the second quarter as more homes entered the foreclosure process even as price declines slowed, real estate Web site Zillow.com reported today.
August 9 -
MountainView Capital Holdings LLC has acquired Capmark Securities Inc. and a team of fixed-income professionals from Madison Williams and Co. LLC.
August 9 -
NexBank of Dallas has launched a warehouse lending division, offering lines of credit of up to $10 million to nondepositories.
August 9 -
Freddie Mac is getting tough on seller/servicers that are not meeting their obligations to buy back mortgages that went afoul of the GSE's underwriting guidelines.
August 9 -
A recent Bank of America securitization that appears to be the first of its type raises the question of the value of investing in "scratch and dent" reverse mortgages, a specialized part of this government product-dominated market that a select investor base is said to have an appetite for.
August 9 -
Freddie Mac lost $4.7 billion in the second quarter, an improvement from the prior period, but bad enough that the GSE is asking the Treasury for $1.8 billion in assistance to keep its net worth position in the black.
August 9 -
Covered bonds are a hot topic lately, but while they are well known in Europe they are not as well known in the U.S.What is it about covered bonds that is different from other bonds? Why are they so popular in markets that are under stress?
August 6