Mortgage servicing rights on a portfolio of $170 million of Fannie Mae home loans from the Midwest are being offered for sale by Prestwick Mortgage Group, Alexandria, Va.The portfolio has a weighted average note rate of 5.968% and a weighted average servicing fee of 0.3430%. The weighted average seasoning is 32 months, and the delinquency ratio is 1.19%. Most of the properties are located in Ohio or Indiana. Bids are due Oct. 18.
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.
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.
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.