Capital Alliance Income Trust Ltd., San Francisco, is discontinuing the operations of Capital Alliance Funding Corp., its mortgage banking subsidiary.CAFC plans to sell its mortgage loan inventory. Any unsold loans will be transferred to CAIT or sold to an affiliated company at fair market value. Investment mortgage loans will continue to be originated for CAIT's portfolio, the company said in a statement.
The nonpayment rate for non-qualified mortgages is up 21 basis points from February and 134 basis points from March 2023, Morningstar DBRS said.
The government mortgage-bond guarantor will require additional information on foreclosure prevention actions, and retire some forbearance reporting.
But views are split, at least in the near-term on whether rising mortgage rates are holding back the Spring home purchase season.
The top five producers had an average dollar volume of FHA loans of more than $50 million in 2023.
The tool will provide helpful HELOC-related information to customer support staff to streamline the application process, Figure said Thursday.
The five states with the lowest property taxes have an average effective real-estate tax rate of 0.44%.
