The Prestwick Mortgage Group is brokering the sale of mortgage loan servicing rights on a $12 million portfolio of loans primarily backed by homes in Michigan. The average principal balance on the Fannie Mae loans is $57,412 with a weighted average note rate of 7.2% and a weighted average servicing fee of 0.2912%. The loans have an average seasoning of 125 months. All the loans are fixed rate. Bids are due on Thursday, January 29.
A tour of the technology that banking has run on, dating back to Franklin's anti-counterfeit measures and the bank-note bulletin that preceded American Banker.
Issuances of new HECM-backed securities dropped off in June on both a monthly and yearly basis, according to a new report from New View Advisors.
The vote to approve the $12 per share deal, which rejected a hostile bid from UWM Holdings, came following several postponements of a special meeting.
A mortgage customer claims his data was compromised in a hack last year at a tax and accounting firm reportedly used by the wholesale giant.
The government-sponsored enterprise clamped down on project review requirements and certain factory-built home appraisals while loosening other guidelines.
The June jobs report is creating an overhang on economist forecasts for interest rates going forward, especially when combined with recent inflation data.
