Data and information management

If you're looking for the next megabank to exit the mortgage sector the most likely candidate would be Ally Financial, the government owned bank holding company that controls No. 5 ranked servicer GMAC Mortgage/Residential Capital Corp.

There were more cures than new notices of default in February for the nation's private mortgage insurers, continuing a trend of recent years, according to data compiled from members of the Mortgage Insurance Cos. of America.

The aggregate value of loans collateralized by commercial MBS increased 50 basis points in February from the month prior, continuing an upward trend, said DebtX, a Boston-based loan sales advisor.

The average interest rate for a 30-year fixed rate loan fell to 3.99% for the week ending March 29, compared to 4.08% the week prior, according to new figures compiled by Freddie Mac.

Residential servicers completed 65,000 foreclosures in February, an 8% decline from the prior month and just about flat from the same period a year ago, according to new figures compiled by CoreLogic, Santa Ana, Calif.

Bank servicers initiated more trial modification plans, and initiated fewer foreclosure actions in the fourth quarter than the previous one, according to a new report from the Comptroller of the Currency.

Although rates have been trending downward this week, new mortgage applications fell by almost 3% for the week ending March 23, according to new figures compiled by the Mortgage Bankers Association.

Community banks and thrifts are slowly increasing their originations of non-conforming mortgages, while pulling back on making FHA loans, according to a new study from the American Bankers Association.

Standard & Poor's said Tuesday that home prices fell in January for the fifth consecutive month, reaching a new low for the housing bust.

Freddie Mac purchased $37.6 billion of residential loans from its seller/servicers in February, a 10% increase from the prior month, and a sign perhaps that Bank of America's recent decision to quit Fannie Mae is helping Freddie.

Contracts to purchase previously owned homes eased by half a point in February on a sequential basis, but rose 9% compared to the same month last year, according to new figures released by the National Association of Realtors.

Who says a consumer with a low FICO score can't get a mortgage? A recent survey conducted by National Mortgage News found five lenders that are willing to extend credit to borrowers with FICOs of 600 or less. The three lenders with the lowest FICO scores include TD Banknorth Mortgage, Embrace Home Loans, and Compass Bank.

If you're looking for the missing piece to the mortgage "deconsolidation" equation, its name is Wells Fargo. Never before in the annals of residential finance has one company amassed such an enormous market share in lending (27%) and servicing (20%).

New single-family home sales fell 1.6% in February to a seasonally adjusted annualized rate of 313,000 units, but prices jumped to their highest level in eight months, according to government figures released Friday morning.

Mortgage bankers issued $28 billion of Government National Mortgage Association MBS in February, down 7% from the prior month, according to new figures released Thursday.

Sales of existing homes slipped 1% in February from the prior month on a seasonally adjusted basis, but rose 10% on a non-adjusted basis, according to new sales figures released Wednesday morning.

It would appear that rising interest rates are starting to affect new mortgage applications.

Builders pulled back on the construction of single-family homes in February but forged ahead with multifamily starts, according to new government figures released Tuesday morning.

As more submissions come in for our Top 150 Originator list, preliminary data shows we have a new leading producer for 2011. He is Eric Magee of Union Bank, with total volume of $234 million.

Declining mortgage rates during the fourth quarter fired up refinancings of high LTV loans guaranteed by Fannie Mae and Freddie Mac, according to new Home Affordable Refinancing Program figures released Monday afternoon.