Roughly 26% of homeowners with a mortgage had substantial equity, or paper profit, in their properties at the end of June in the Los Angeles-Orange County area, according to First American CoreLogic. But the company also found that 35% of mortgagors were underwater, owing more than their homes were worth. And according to The Orange County Register, 39% were within 5% of being underwater. California has one of the highest loan delinquency rates in the nation.
AnnieMac CEO Joe Panebianco has navigated a broad range of risks, from cash buyer competition to shifts in the market's loan product mix, with a unique leadership style.
A consumer was moving to certify a class of thousands of borrowers who paid the telephone mortgage payment fees to a subsidiary the servicer acquired.
JPMorganChase and Bank of America raised concerns about the proposed removal of risk-weighted assets from the denominator of the short-term wholesale funding component of the GSIB surcharge — changes backed by Goldman Sachs and Morgan Stanley.
House Speaker Mike Johnson, R-La., reportedly plans to send the recently passed housing bill to the White House on Monday, starting a 10-day clock for the president to sign the bill.
The national delinquency rate rose 15 basis points to 3.5% last month due to a calendar anomaly, marking a 4.5% month-over-month incline and 9.4% annual change.
ICE launched a fraud detection tool for underwriters, Newrez partnered with Matic and Rate announced a free home equity monitoring tool this month.