The Prestwick Mortgage Group, Alexandria, Va., is brokering the sale of servicing rights on $150 to $210 million per quarter of Fannie Mae and Ginnie Mae mortgage servicing rights.The bulk flow portfolio's sample characteristics include an anticipated average Fannie Mae loan balance of $124,000 and Ginnie Mae balance of about $112,000. The loans will be made in Indiana, Ohio, Michigan, and Kentucky. The seller is a bank-affiliated mortgage company. Bids are due Aug. 9.
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.
NJ Lenders suffered a cyberattack last August, which potentially exposed the names and social security numbers of about 30,000 individuals.
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.
The mortgage subsidiary of PlainsCapital Bank saw improvement in its bottom line but remained in the red amid ongoing affordability constraints.
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.
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.
