Luminent Mortgage Capital Inc., San Francisco, has securitized $520.5 million of hybrid adjustable-rate mortgages.Bear Stearns & Co. and Morgan Stanley underwrote the transaction, Luminent 2005-1. Luminent retained $20.2 million of the securities for its securitized residential mortgage credit portfolio. Luminent can be found on the Web at http://www.luminentcapital.com.
This data release means another milestone for the use of updated credit score models than the current FICO Classic has been met by Fannie Mae and Freddie Mac.
The real estate and fintech company completed the purchase of 100% of Mortgage One Group, marking a major step in its push into AI financing.
The rise in completed modifications occurred as many other loan performance indicators plateaued, and may reflect the temporary impact of recent rule changes.
The Department of Housing and Urban Development got 67 responses to its request for information regarding the FHA program's Minimum Property Requirements.
Mortgage applications rose 0.4% on a seasonally adjusted basis from one week prior for the period ending June 26, according to the MBA's Market Composite Index.
Homeowners accuse the home equity investment company of breaking the law for suggesting that its home equity investment product isn't a mortgage.
