Are mortgage rates headed lower? On Friday Federal Reserve Chairman Alan Greenspan said "significant'' near-term risk remains for the U.S. economy, which means theFed likely will cut rates again at its next meeting. Mr. Greenspan's comments caused a mini sell-off in stockswhich sent investors scrambling for bonds. Falling interest rates could extend what's already been a robust refinancingmarker...
According to preliminary estimates made by the QuarterlyData Report (a National Mortgage News affiliate) all residential originatorsproduced $1.948 trillion in home loans during 2001, a record for sure. Subprime originations totaled about $137billion... It appears it's all over for Alliance Funding, Orangeburg, N.Y., the subprime wholesaler that's been managed by the Federal Deposit Insurance Corp. since July. Sourcessay FDIC apparently couldn't find a buyer and decided that Alliance -- once the property of Superior Bank -- took its last application on Friday...
If you're a top servicing manager in the subprime niche you may want give Option One, Irvine, a call. The company is lookingfor someone to manage its existing base of receivables and grow its already-strong presence in the subservicingniche. Option One hopes to take on Fairbanks Capital...
A stock on the move: LendingTree's share price has been rising of late -- and noticeably. In October its shares were tradingat under $4 a share. On Friday it closed at just under $8 Just a reminder: FannieMae is set to release earnings on Monday, after the bell. Look for Freddie Mac's earnings a week later...
