Bear, Stearns & Co. has cut 310 mortgage jobs in a consolidation of its lending businesses that it expects ultimately to streamline third-party originators' contacts with the company and provide TPOs with a wider range of products.Under the reorganization, Bear Stearns Residential Mortgage and Encore Credit will be combined into a single unit under the name Bear Stearns Residential Mortgage Corp. After an unspecified transition period, the company -- in keeping with industry trends -- plans to offer third-party originators single points of contact for its full loan product line and to expand its product line to include government and government-sponsored loans.
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The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
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In a Senate hearing, Director Sandra Thompson said a raise to the required income threshold provided to affordable housing was on the table, while housing regulators also faced questions related to property insurance hikes and title insurance waivers.
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The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
April 18 -
The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
April 18 -
But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
April 18 -
The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
April 18