3rd Consecutive COFI Record

Author:  //  Category: Mortgage

Borrowers whose adjustable-rate mortgages are tied to the 11th District Cost of Funds Index again were treated to new record-low index. It was the third month in a row that the index has established a new low.

COFI was 2 basis points lower in May than it was during April. Data back to July 1981 indicate that the index has never previously been this low.

A new record has been set each month since March.


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3rd Consecutive COFI Record

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Stellar Performance at Fannie

Author:  //  Category: Mortgage

Monthly secondary marketing activity at the Federal National Mortgage Association jumped and stands at nearly double year-earlier levels. Home-loan delinquency fell to the lowest level in more than three years and hasn’t increased for more than two years. Past-due payments on apartment loans have declined each of the last six months.

During May, new business acquisitions leapt 36 percent at the Washington, D.C.-based company from April.

Compared to May 2011, Fannie Mae’s secondary marketing volume nearly doubled.


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Stellar Performance at Fannie

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FHA Mortgagees Terminated

Author:  //  Category: Mortgage

Three firms have lost their ability to originate or underwrite mortgages for the Federal Housing Administration.

Direct endorsement mortgagees are authorized to underwrite FHA loans. Termination can occur when the mortgagee’s default and claim rate exceed 200 percent of the rate for the local area and also exceeds the national default and claim rate.

Terminated mortgagees cannot underwrite FHA

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Q&A: What the Libor scandal means for the banks – and you

Author:  //  Category: Mortgage

… . While the price of ordinary mortgages is based on Bank of … Libor. These include “sub-primemortgages offered to those with poor …

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Q&A: What the Libor scandal means for the banks – and you

Author:  //  Category: Mortgage

… . While the price of ordinary mortgages is based on Bank of … Libor. These include “sub-primemortgages offered to those with poor …

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Q&A: What the Libor scandal means for the banks – and you

Author:  //  Category: Mortgage

… . While the price of ordinary mortgages is based on Bank of … Libor. These include “sub-primemortgages offered to those with poor …

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Q&A: What the Libor scandal means for the banks – and you

Author:  //  Category: Mortgage

… . While the price of ordinary mortgages is based on Bank of … Libor. These include “sub-primemortgages offered to those with poor …

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Q&A: What the Libor scandal means for the banks – and you

Author:  //  Category: Mortgage

… . While the price of ordinary mortgages is based on Bank of … Libor. These include “sub-primemortgages offered to those with poor …

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Q&A: What the Libor scandal means for the banks – and you

Author:  //  Category: Mortgage

… . While the price of ordinary mortgages is based on Bank of … Libor. These include “sub-primemortgages offered to those with poor …

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Q&A: What the Libor scandal means for the banks – and you

Author:  //  Category: Mortgage

… . While the price of ordinary mortgages is based on Bank of … Libor. These include “sub-primemortgages offered to those with poor …

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