Mortgages

The housing market’s boom led to more borrowers building home wealth but the pandemic’s negative impact brings concern for underwater owners, according to Attom Data Solutions.

First Foundation is relocating its corporate headquarters to Dallas, where the tax burden is lighter and it sees more opportunity to beef up lending, add wealth management clients and pursue acquisitions of community banks.

Also, private money is expected to return to the mortgage securitization market, according to lenders who responded to an Altisource survey.

“It’s time for us to stop treating the purchase mortgage as some kind of market impediment or red flag for our forecasts,” says Chairman of JJAM Financial and former Ginnie Mae President Joseph Murin

Even as the company posted record numbers, it could have originated more loans if it had not stopped buying FHA and jumbo mortgages from brokers.

Whether or not the cost of home loans go up may hinge on the labor market recovery, and right now bond yields suggest they are heading in one particular direction long term.

The waivers to standard procedure will remain in place until December 2021.

The acquiring company does business under the name Excelerate Capital and will extend that name to Castle in order to expand its footprint.

However, the share of new impairments increased, likely as a result of the high concentration of these loans given to self-employed borrowers.

After mortgage rates rose for three weeks, borrowers took advantage of a 3-basis-point dip and sparked a short-term refinancing rally, according to the Mortgage Bankers Association.

The plan is aimed at low- and moderate-income communities, and may enable 60,000 individuals and families to purchase homes, the bank said in a statement Wednesday.

Now approved by Fannie Mae, the digital servicer aims to shake up the status quo by reducing costs caused by a “monopoly in the market.”

With the shift to a low-rate environment dominated by no cash-out refinancing, use of an alternative to traditional valuations has soared.

The 2020 price increase was more than double 2019's and above CoreLogic's year-ago prediction, but its forecast for 2021 puts the pace at just one-third of last year’s.

The coalition, led by New York’s Letitia James and Minnesota’s Keith Ellison, argues that PHH Mortgage’s payment processing fees violate some state laws.

Pretax operating margins came in much narrower than what is projected for the three stand-alone underwriters.

The company also reported a large fourth-quarter loss that reflected a significant increase in its loan-loss provision.

Issuance of securitizations backed by these loans is becoming more dependable, and Fannie will need more mortgages that finance newly-built energy-efficient homes to keep it going.

The CARES Act-related forbearances could be “lulling us into a false sense of security” as 12-month expirations approach, according to Black Knight.

The transaction consisting of $24 million in securitized Ginnie pools followed a 265% jump in broader industry eNote registrations last year.