Bear Stearns & Co. has announced the development of a monthly mortgage performance index aimed at helping investors assess risk when investing in mortgage-backed securities.The Bear Stearns Performance Index features nontraditional metrics such as the cash-flow status of delinquent loans and covers more than 3,000 transactions in the private-label mortgage market. "Borrower defaults have been understated in recent years because record home price increases have resulted in far fewer recorded losses -- the traditional measure of default," said Gyan Sinha, senior managing director and head of Bear Stearns' asset-backed research. "Our deal-level reports also give investors the ability to better estimate the number of borrowers who are going to default from delinquency as opposed to those who are on a successful repayment plan." The company can be found online at http://www.bearstearns.com.
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Doxo plans to fight the FTC complaint, which focuses broadly on consumer finance, but there are signs of confusion about the company's role in mortgages too.
April 25 -
Members of the LGBTQ community were most likely to have experienced housing bias, according to a Zillow survey, which also found many people don't recognize how fair lending laws could help.
April 25 -
Senior executives making over $151,000 would still be subject to such clauses should the rule go into effect this year.
April 25 -
Christopher J. Gallo and his aide, Mehmet A. Elmas, allegedly withheld information in mortgage applications, hiding that borrowers were purchasing second home properties.
April 25 -
Mortgage rates rose 7 basis points this week, Freddie Mac said, and more increases are likely following a weaker than expected gross domestic product report.
April 25 -
Independent mortgage bankers lost the most money ever on every loan originated last year due to higher rates and lower volumes, an industry trade group said.
April 25