PHH Production Picks Up

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Quarterly residential loan originations at PHH Mortgage were better than the prior period and are poised to continue rising. The servicing portfolio expanded by more than a quarter. 

From April 1 through June 30, PHH closed 11 percent more in home loan production than during the first quarter, according to second-quarter earnings data.

Residential loan production was also better than the second-quarter 2012, with business increasing by 15 percent on a year-over-year basis.


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PHH Production Picks Up

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New Business Slows at Fannie

Author:  //  Category: Mortgage

Monthly secondary marketing activity at the Federal National Mortgage Association turned lower. Serious residential delinquency, however, fell to the lowest level in more than four years.

During June, the Washington, D.C.-based company saw new business acquisitions decline 7 percent from the previous month, according to a monthly operational summary.

Compared to the same month last year, new mortgage activity has improved — with secondary activity up 3 percent from June 2012.


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New Business Slows at Fannie

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New American Funding Appoints Chris Garza as Nevada Area Sales Manager

Author:  //  Category: Mortgage

New American Funding, a national mortgage lender, has appointed Chris Garza to the position of Nevada Area Sales Manager.

TUSTIN, CA, USA, July 31, 2013 /EINPresswire.com/ — New American Funding, a national mortgage lender, has appointed Chris Garza to …

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New American Funding Appoints Chris Garza as Nevada Area Sales Manager

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THE CPSC’S LATEST ATTEMPTS TO EXPAND ITS ENFORCEMENT AUTHORITY

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Latest example of CPSC’s new aggressive approach is the series of lawsuits filed against manufacturers of rare earth magnets, like Buckyballs and Zen Magnets.

WASHINGTON, D.C., July 31, 2013 /EINPresswire.com/ — In the wake of 2007—the “year of the …

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THE CPSC’S LATEST ATTEMPTS TO EXPAND ITS ENFORCEMENT AUTHORITY

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Opportunist Interviews Going Public Securities Attorney, Brenda Hamilton

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BOCA RATON, FLORIDA, USA, July 31, 2013 /EINPresswire.com/ — In order to provide a practitioner's perspective on current issues involving the securities law and going public we discussed these issues with securities attorney Brenda Hamilton.

In …

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Opportunist Interviews Going Public Securities Attorney, Brenda Hamilton

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IT Governance to host free webinar on Anti-Bribery Law compliance

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ELY, UK, July 31, 2013 /EINPresswire.com/ — If you have been keeping up with the recent news there has been a lot about bribery, from UK politicians asking questions for cash, to allegations concerning Formula 1 in Germany, not forgetting the oil …

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Senate Committee Approves FHA Bill

Author:  //  Category: Mortgage

A proposed law that would strengthen the Federal Housing Administration has made it out of a U.S. Senate committee — a development that was lauded by mortgage bankers.

Earlier this month, the Senate Banking Housing and Urban Affairs Committee released details on the proposed legislation known as S. 1376, the FHA Solvency Act of 2013.

Among other things, the bill would raise the caps on FHA mortgage insurance premiums, impose Qualified Mortgage standards on FHA-insured loans and expand the scope of indemnification and mortgagee termination.


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Senate Committee Approves FHA Bill

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5-Year High for New Mortgage Insurance Activity

Author:  //  Category: Mortgage

Despite a decline in the number of new mortgage insurance policies issued last month, the dollar volume of home loans insured reached the highest level in five years. But new business appears headed lower, and defaults deteriorated.

During June, there were 2 percent more in residential loans insured than in the prior month. Compared to a year-earlier, business has accelerated by 30 percent.

The level of new business in June 2013 was the highest dollar volume of mortgages insured since July 2008.


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5-Year High for New Mortgage Insurance Activity

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Radian Cuts M.I. Premiums

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Mortgage insurer Radian Guaranty Inc. announced that it has reduced mortgage insurance premiums for a number of different scenarios.

The new premiums apply to SplitEdge rates, which splits up mortgage insurance costs into an up-front premium of between 0.50 percent and 1.25 percent and a smaller monthly renewal.

Loans with FICO scores of at least 720 and loan-to-value ratios higher than 95 percent and up to 97 percent will see fixed base rates reduced by at least 8 basis points for up-front premiums.


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Number of Active LOs Declines

Author:  //  Category: Mortgage

The number of registered loan originators fell by 2 percent during the most-recent three-month period. Although the count was down just 1 percent at banks and credit unions– a steeper 6 percent drop hit non-bank originators.

As of March 31, mortgage loan originators registered with the Nationwide Mortgage Licensing System totaled 504,772, according to the Conference of State Bank Supervisors.

Registered loan officers declined from the end of 2012, when 513,898 originators were registered. But the total expanded from the same point last year, when 482,080 were registered.


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Number of Active LOs Declines

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