Mortgages

The quartet of trade groups sent a letter to National Economic Council Direct Brian Deese seeking its support for an action many have been expecting since Pres. Biden's inauguration.

A couple squatted in their foreclosed home since 2009 and are only now being evicted, highlighting stubborn problems in the foreclosure process.

Still near historic low levels, the share of borrowers entering the early stages of delinquency in June increased 0.1 percentage point.

Lenders are eliminating what they consider to be riskier loans from their offerings, the Mortgage Bankers Association said.

Payments increase 5% in each of the first five years of the mortgage, with the unpaid interest from that period added to the principal.

National real estate company Redfin is looking for a new tenant to take over the Frisco, Texas office space that housed its now-shuttered mortgage division.

As revenues are bottoming out for this group of depositories, some are totally retreating from residential real estate finance, the head of Citizens Financial Group said at a conference.

After 90 years, it is time to examine whether the system is still fulfilling its intended mission to provide liquidity for its members to make mortgages.

While one analysis finds that publicly traded nonbanks may not be materially affected — contrary to the concerns expressed by Ocwen — Community Home Lenders Association said it could hurt moderately sized lenders.

But the shift to a purchase market means issues around employment and income verification should concern originators.

Join three officials from the Federal Housing Finance Agency's recently establish Office of Technology to hear about their goals and initiatives for the department and how their work may impact every day lending activities.

Also, the percentage of loan-to-value ratios in all buckets above 50% shrunk between the first and second quarter, according to a new CoreLogic report on homeowner equity.

Younger mortgage tech software developers reveal new efficiencies they're creating for lenders.

Rate and term refinance activity has practically disappeared compared with 12 months ago, and volume for the less rate sensitive cash-out product is much lower.

The Mortgage Bankers Association forecast comes as bankers continue keeping an eye on their commercial real estate portfolios, including office buildings. The MBA also noted that many companies have long-term leases on their offices, likely making the hit more gradual.

The servicer is evaluating alternatives in light of the new rule the government bond insurer will put in place next year.

Special-purpose credit programs figure prominently in the recently released equitable housing finance plans of Fannie Mae and Freddie Mac.

BofA Securities Inc. predicts that single-family rental securitizations — which repackage a single loan tied to multiple properties — will fall to just $2 billion for the rest of 2022 as Federal Reserve rate hikes send shivers across the industry.

Historically tight underwriting reinforced by regulation and third-party reviews could be buffers, so long as manufacturing standards for production and servicing hold up as residential mortgage companies downsize, according to KBRA.

Completions in August remained far lower than before COVID-19 arrived in the United States but initial actions rose fast enough to potentially meet expectations that they'll normalize in 2023.