The Prestwick Mortgage Group of Virginia will auction off a $19 million package of residential servicing rights tied to Fannie Mae loans. The average loan size is $119,228 with the average note rate at 6.02%. All but one of the loans are on properties in Florida. The package has a delinquency rate of 3.7%. The bid deadline is June 9.
Four new mortgage acquisitions show how companies in home finance are prioritizing advanced technology in what has turned into the year of consolidation.
On Aug. 14, over 30% of the loans sent to Fannie Mae and Freddie Mac from each company were scored using VantageScore 4.0.
About 73% of potential buyers intend to purchase within the next year, up slightly compared to the first quarter, according to a Veterans United survey.
After losing money on production in most quarters between 2022 and 2024, independent mortgage bankers have achieved five consecutive quarters in the black.
So far, annual home lending growth is on track to slow, but not stop, with some positive developments surfacing amid broader challenges.
The overall defect share saw the largest jump in four years, as changes in mortgage rates brought a shift in volume mix, according to ACES Quality Management.
