COFI Bounces Off Record Low

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After falling to the lowest level on record, the Cost of Funds Index took a turn for the worse during the final month of last year.

COFI was 7 basis points higher in December than during

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Mortgage Rates Surge

Author:  //  Category: Mortgage

Signs of strength in the U.S. economy helped drive mortgage rates higher this week. Long-term fixed rates jumped more than 10 basis points, while adjustable-rate loans rose more moderately.

An 11-basis-point rise from last week left fixed-rate 30-year mortgages averaging 3.53 percent in the Primary Mortgage Market Survey for the week ended Jan. 24 from Freddie Mac. The 30 year was 34 BPS better, however, than the same week last year.

Freddie Mac Chief Economist Frank Nothaft attributed the rate increase to a growing economy led, at least partially, by a housing recovery.


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Mortgage Rates Surge

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CMBS Terms Easing

Author:  //  Category: Mortgage

Competition is heating up in the market for commercial mortgage-backed securities, leading conduit originators to ease requirements for amortization and reserves.

Credit quality metrics on commercial real estate loans securitized in the fourth-quarter 2012 have returned to 2004 levels.

That leaves the latest vintage favorably positioned compared to issuances from the CMBS market peak reached in 2006 and 2007.


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CMBS Terms Easing

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Provident Pushes Up Production, People and Portfolio

Author:  //  Category: Mortgage

Staffing increased during the fourth quarter at Provident Funding Associates LP, as annual mortgage production grew by more than half and the servicing portfolio expanded.

From Oct. 1 until Dec. 31, Provident originated 32,020 residential loans, according to operational data provided to Mortgage Daily. Business slipped from the second quarter, when the Burlingame, Calif.-based firm closed 32,753 loans.

Based on dollar volume, mortgage production increased 9 percent compared to the fourth-quarter 2011.


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Provident Pushes Up Production, People and Portfolio

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Mortgage Rates Turn Sharply Up

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Mortgage rates are up sharply this week, with the most popular loan types up a full tenth of a percentage point, according to the weekly Freddie Mac rate survey.

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Mortgage Rates Turn Sharply Up

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M.I. Business Climbs to 5-Year High

Author:  //  Category: Mortgage

Despite the loss of multiple mortgage insurers, the sector managed to turn in its best performance in five years. Policies in force have expanded for seven consecutive months.

FMortgage insurance companies wrote 36,543 mortgage insurance policies in December. That was fewer than the 39,220 loans insured during the

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The Co-operative Group Launches Pioneering New Christmas Savings Trust

Author:  //  Category: Mortgage

/EINPresswire.com/ UK (Submitpressrelease123.com – press release) The Co-operative Group has today (Monday 28 January 2013) launched a pioneering new savings scheme trust, becoming the first retailer to protect customers paying into a saving stamps scheme …

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The Co-operative Group Launches Pioneering New Christmas Savings Trust

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Bankruptcy Specialist Announces $4.3M Commercial Loan Modification

Author:  //  Category: Mortgage

/EINPresswire.com/ Los Angeles, CA – January 31, 2013 — Capital Restructure Group, www.capitalrestructuregroup.com a Bankruptcy Specialist, and expert in CMBS Loan Modifications and Commercial Loan Modifications announced today the restructure of a $4. …

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Bankruptcy Specialist Announces $4.3M Commercial Loan Modification

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LPS Agrees to Multi-state Settlement

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A settlement announced between Lender Processing Services Inc. and most state attorneys general resolves allegations of robo-signing by a now-defunct subsidiary. LPS also settled two other lawsuits.

The Jacksonville, Fla.-based service provider said Thursday that it agreed to settlements with attorneys general from 46 states and the District of Columbia. In addition to payments being made to the states, LPS committed to stronger compliance and oversight of its operations as well as continued remediation efforts.

The agreements follow similar settlements previously announced with the states of Colorado, Delaware and Missouri.


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LPS Agrees to Multi-state Settlement

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PMBOK Guide 5th edition released

Author:  //  Category: Mortgage

/EINPresswire.com/ IT Governance Ltd, the single-source provider of comprehensive project management resources, have announced that the 5th edition of The Project Management Body of Knowledge (PMBOK) Guide has been released. It can be ordered online for …

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PMBOK Guide 5th edition released

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