Industry News
MBA: Increasing refinance demand drives uptick in mortgage applications
HousingWire | June 21, 2017
Mortgage applications continued to rise (albeit slightly) in the last week, with refinance applications driving the increase again, according to the latest data from the Mortgage Bankers Association. According to the data from the MBA’s Weekly Mortgage Applications Survey for the week ending June 16, mortgage applications increased 0.6% from one week earlier.
Lenders Loosen Risk Standards as Rates Rise
DS News | June 20, 2017
Mortgage lenders are taking increased credit risks similar to those of the early 2000s, according to the Q1 Housing Credit Index Report released by CoreLogic on Tuesday. The level of credit risk taken by lenders in Q1 of 2017 was about the same as the average risk taken between 2001 and 2003.
Millennial housing demand increases potential for home sales in May
HousingWire | June 20, 2017
The market’s potential for existing home sales increased in May, even as the number of sales continued to underperform, according to the Potential Home Sales model for First American Financial Corp., a provider of title insurance, settlement services and risk solutions for real estate transactions.
Mortgage default rate falls to near record low in May
HousingWire | June 20, 2017
Borrowers are going into default on their first mortgages less often than at nearly any point in the last 13 years, a new report from the S&P Dow Jones Indices and Experian showed. The newest S&P/Experian Consumer Credit Default Indices, which is a comprehensive measure of changes in consumer credit defaults, showed that the default rate for first mortgages fell to 0.64% in May.
Freddie Mac MSR Changes Hands; Fannie Mae to Follow?
DS News | June 19, 2017
According to a filing with the U.S. Securities and Exchange Commission on Monday, PHH Mortgage Corporation has closed the sale of nearly its entire Freddie Mac portfolio of mortgage servicing rights (MSR) to New Residential Mortgage, LLC—about 81,500 loans. New Residential picked up the portfolio for approximately $110 million. Of that sum, $101.5 million was attributable to the purchase rights for the Freddie Mac MSR portfolio and $8.5 million was for related servicing advances.
HousingWire | June 21, 2017
Mortgage applications continued to rise (albeit slightly) in the last week, with refinance applications driving the increase again, according to the latest data from the Mortgage Bankers Association. According to the data from the MBA’s Weekly Mortgage Applications Survey for the week ending June 16, mortgage applications increased 0.6% from one week earlier.
Lenders Loosen Risk Standards as Rates Rise
DS News | June 20, 2017
Mortgage lenders are taking increased credit risks similar to those of the early 2000s, according to the Q1 Housing Credit Index Report released by CoreLogic on Tuesday. The level of credit risk taken by lenders in Q1 of 2017 was about the same as the average risk taken between 2001 and 2003.
Millennial housing demand increases potential for home sales in May
HousingWire | June 20, 2017
The market’s potential for existing home sales increased in May, even as the number of sales continued to underperform, according to the Potential Home Sales model for First American Financial Corp., a provider of title insurance, settlement services and risk solutions for real estate transactions.
Mortgage default rate falls to near record low in May
HousingWire | June 20, 2017
Borrowers are going into default on their first mortgages less often than at nearly any point in the last 13 years, a new report from the S&P Dow Jones Indices and Experian showed. The newest S&P/Experian Consumer Credit Default Indices, which is a comprehensive measure of changes in consumer credit defaults, showed that the default rate for first mortgages fell to 0.64% in May.
Freddie Mac MSR Changes Hands; Fannie Mae to Follow?
DS News | June 19, 2017
According to a filing with the U.S. Securities and Exchange Commission on Monday, PHH Mortgage Corporation has closed the sale of nearly its entire Freddie Mac portfolio of mortgage servicing rights (MSR) to New Residential Mortgage, LLC—about 81,500 loans. New Residential picked up the portfolio for approximately $110 million. Of that sum, $101.5 million was attributable to the purchase rights for the Freddie Mac MSR portfolio and $8.5 million was for related servicing advances.