GMAC Mortgage Corp. has received an RPS1 rating from Fitch Ratings for servicing alternative-A, prime, subprime, high loan-to-value, and home equity loans and lines of credit.The rating is Fitch's highest for a servicer. In addition, Fitch upgraded GMAC Mortgage's special servicer rating to RPSS2-plus. Tony Renzi, executive vice president and head of national loan administration for GMAC, said the high ratings reflect the company's investment in its people, processes, and technology. GMAC Mortgage serviced $198 billion of loans at the end of last year.
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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.
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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