Mortgages

A pension fund looked to impose a fiduciary duty regarding a mortgage securitization instrument, but a federal judge said no.

But on a cumulative basis since 2013, the unpaid principal balance of reference pools is higher at Freddie Mac, according to the Federal Housing Finance Agency.

Residents in the top five cities have an average median credit score of 800.4 in 2022, according to WalletHub.

But scarce housing inventory has helped to bring home equity values back upward, offsetting some of the losses of late 2022.

State Farm General Insurance Co. said it's no longer accepting new applications for property and casualty coverage in California last week, a year after Allstate Corp. also paused new policies, worsening what FAIR Plan, a state-mandated insurance pool, called a "looming insurance unavailability crisis." 

Staff retained or added for the spring homebuying season has stemmed the tide of layoffs for now, according to the Bureau of Labor Statistics' latest figures.

Six regulatory agencies are seeking public comment on a proposed rule that would establish best practices for using automated valuation models to assess collateral.

The fact that rates are higher than they were at origination for many distressed borrowers has made it tough to lower payments and this new type of partial claim may help.

A change in investor sentiment toward an expected pause by the Fed in short-term rate hikes was the driving force behind the current surge, Freddie Mac said.

But when compared past periods of upheaval, those rates remain relatively low, the Mortgage Bankers Association report showed.

Businesses in the first quarter lost money in 1 of every 7 home sales, a rate which approached a seven-year high, Redfin said.

The top five depositories have a combined HELOC volume of more than $91 billion at the end of Q1 2023.

The company will acquire 20 branches and some origination employees in the deal.

But more potential owner-occupants are entering this market as a result of tight housing market conditions, Auction.com found.

It was the eighth consecutive quarterly decline of origination activity, according to a report published by Attom Data.

Many borrowers have historically low rates obtained during the 2020-2021 housing boom but a smaller number of people entering the market since 2022 have higher financing costs and less equity.

Those thinking about entering this space should consider whether they can build a sustainable operation in scale, niche or relationship lending, a report by Stratmor Group argues.

The enterprises should offer an indemnification in lieu of the practice of a repurchase demand for all performing loans, writes the Executive Director of Community Home Lenders of America.

The 30-year average for both conforming and jumbo loans jumped more than 20 basis points, according to the Mortgage Bankers Association.