Refinance

Compared with the second quarter, the title insurer had 154,000 more orders opened and earned $89 per residential file.

Brookfield and JV partner Swig Co. are refinancing debt and cashing out $200M in equity in the iconic, sloped-base midtown Manhattan office tower.

Mortgage applications increased 3.8% from one week earlier as a drop in most loan interest rates brought on an increase in refinance activity, according to the Mortgage Bankers Association.

Meanwhile, the delinquency rate is up 89% year-over-year, according to Black Knight.

Researchers are increasingly focused on the risks related to owner-occupied loans with low balances and low-income properties with a limited number of renters.

Mortgage application fraud risk dropped drastically from 2019 with the spike in refinances, but the fallout from the coronavirus means next year could come with more risk, according to CoreLogic.

But for the first time in a month, fewer consumers refinanced into a government-guaranteed mortgage.

The mortgage unit contributed $20 million of the $26 million the holding company earned over that period.

The final consent order contained the largest penalty, for $1.8 million to be paid by Low VA Rates. In total, the CFPB has issued $4.4 million in fines for such marketing of VA loans.

The company had lower losses on its mortgage servicing rights investments compared with the second quarter.