Mortgages

Foreclosure-related sales made up 26% of all home sales through the first three months of 2012, up from 22% in the last quarter of 2011 and 25% seen a year ago.

The 30-year dropped three basis points to 3.75% with an average of 0.8 of a point while the 15-year slid seven basis points to 2.97% with an average of 0.7 of a point.

The 10-year Treasury yield continued to set new record lows Thursday morning due to a mix of negative economic indicators both overseas and in the domestic market.

The national mortgage fraud risk index decreased 4.3% in 1Q 2012 from the previous quarter and 3.1% from a year ago.

Servicing is rapidly deconsolidating as the top five no longer control more than half the market, while originations, which were consolidating after the crunch as tens of thousands left the mortgage broker business, have at least ceased consolidating.

The Consumer Financial Protection Bureau has decided to delay the issuance of a final ‘Qualified Mortgage’ rule until after the November 6 elections, industry officials told National Mortgage News.

The housing crisis is one of the longest lasting effects of the economic recession, with home foreclosures continuing to stain our economy. As more homes enter and remain in foreclosure, the servicer (whether on its own or on behalf of the investor) is responsible for maintaining these properties per local and state regulations. And mobile apps have added a new tool servicers can use in the field.

Picking a new loan origination system is as much about the bells and whistles that it offers as it is the realization that your company for all intents and purposes is marrying its future to the vendor chosen.

Three separate businesses each had a series of nonperforming loans that are classified as specially serviced assets recently downgraded by Fitch Ratings because future losses are expected on these loans.

Wilshire State Bank has been released from an enforcement order that required it to boost its capital ratios and reduce its level of problem loans.

Five states accounted for nearly half the total of foreclosures that occurred over the past year through April 2012, CoreLogic’s national foreclosure report revealed.

The National Association of Realtors’ leading indicator of future home sales hit a downdraft in April after three months of solid gains.

The Demand Institute predicts that average home prices will increase by up to 1% in the second half of 2012. By 2014, home prices are expected to rise by approximately 2.5%, and from 2015 to 2017, values are projected to go up between 3% and 4%.

Wells Fargo in an agreement that dismisses a lawsuit filed by area officials said it would provide $4.5 million worth of mortgage downpayment and home renovation assistance to certain borrowers in the Memphis region as well as put another $3 million into other local initiatives.

The commercial mortgage-backed security delinquency rate reached an all-time high in May at 10.04%, up 24 basis points from the prior month.

Allied Irish Bank has signed HML to offer the U.K.’s first 48-hour "hot" standby servicing arrangement for the issuer's £437.6 million ($683 million) securitization of U.K. mortgage assets.

The long-term rate-indicative 10-year Treasury yield slipped below its previous 52-week low of 1.7% early Wednesday morning, signaling downward pressure on rates.

Several contract rates tracked by the Mortgage Bankers Association hit new lows during the week ending May 25, but seasonally adjusted overall application numbers inched downward in data unadjusted for early holiday closes the Friday before Memorial Day.

The president and chief executive of the Mortgage Bankers Association, David Stevens, is stepping down after one year to become the president of SunTrust Mortgage.

When he first came up with the concept for LenderCity Home Loans just before the turn of the century, Gregg Harris ended up being a few years ahead of his time.