Interactive Mortgage Advisors, Denver, is selling a $1.5 billion package of Fannie Mae alternative-A bulk servicing rights with a "flow" component.IMA is brokering the receivables for what it calls a "highly reputable" Wall Street client. Under the flow portion, the seller will provide $750 million to $1 billion a month in additional receivables, bringing the total deal size to $10.5 billion to $13.5 billion. The bid deadline is Thursday, Oct. 13. IMA is auctioning off two other Fannie bulk deals -- one with $206 million in receivables, and another with $26 million.
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The drop in the annual metric for FHA loans was the biggest in over four years but other performance indicators ICE Mortgage Technology tracked were mixed.
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NJ Lenders suffered a cyberattack last August, which potentially exposed the names and social security numbers of about 30,000 individuals.
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Its origination volume of $621.8 million was an increase of $114 million compared with the first quarter but its gain-on-sale was 5 basis points lower.
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The mortgage subsidiary of PlainsCapital Bank saw improvement in its bottom line but remained in the red amid ongoing affordability constraints.
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The "stay-put" economy, along with higher mortgage rates, is responsible for this shift where home equity and seconds have a 17.5% market share, Benutech found.
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Though the crimes occurred earlier this decade, they highlight how much easier it has become to create false documents today, given the rise of artificial intelligence.
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