The Prestwick Mortgage Group, Alexandria, Va., is brokering the sale of mortgage servicing rights on two servicing portfolios.The first is a $44 million national portfolio of Fannie Mae loans with an 8.56% weighted average note rate and a $45,095 average balance. The portfolio has a 13.80% delinquency rate. The bid deadline is Nov. 16. A second portfolio of $14 million in Fannie Mae of loans from Ohio is also being offered. That portfolio has a 6.403% weighted average note rate, a $78,431 average loan balance, and a 1.68% delinquency rate. Bids are due Nov. 15.
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Along with a 25% increase in production, Vishal Garg's scheme aims for monthly revenue growth of $7 million and a reduction of cash burn from $4 million to $0.
September 4 -
The big three's trade group has said they operate legally and protect the industry with a trio of reports. FHFA also is opening up VantageScore for all lenders.
September 4 -
eXp World Holdings, the parent company of eXp Realty, and Kind Lending ended their mortgage joint venture, Success Lending, it was reported Wednesday.
September 4 -
The U.S. economy added 162,000 jobs in August, bouncing back from a surprise decline in July. The Fed's next interest rate decision will still hinge on next week's inflation reading.
September 4 -
As UAD 3.6's Nov. 2 mandate shrinks an aging appraiser pool, AnnieMac and Lower lean on AUS waivers and in-house teams to dodge 2022-style fee spikes and turn-time delays.
September 4 -
Mega investors, the smallest segment of non-owner occupied single family homebuyers, were responsible for one-quarter of the unit drop in second quarter sales.
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