The Prestwick Mortgage Group, Alexandria, Va., is brokering the sale of servicing rights on a $140 million portfolio of Fannie Mae and Freddie Mac loans, all on properties in Michigan.The portfolio has a 5.570% weighted average note rate. The average loan balance is $105,495, and the weighted average seasoning is 25 months. The delinquency rate is 0.83%. Bids are due June 23.
More depositories are getting involved in the securitized market and the competition is likely to add to expense management challenges of smaller balance loans.
Seller-impersonation attempts more than doubled in two years, with artificial intelligence providing fraudsters new tools to commit crimes, a report said.
Homebuyers who are preapproved have the best opportunity to take advantage of fall discounts, giving lenders an opportunity to roll out marketing around this.
Bank of America upped its forecast for non-qualified mortgage issuance, with investors, particularly insurers, buying these and other non-agency securities.
NAF Insurance customers save $719 on average, Phil Miller, senior vice president of strategic partnerships at New American said.
Polling suggests that Democrats could retake control of the House and have a formidable shot at the Senate as well. If they win both chambers, oversight of bank regulation, crypto and Trump administration officials will be the name of the game.
