GOP Holds Up FHFA Director Confirmation

Author:  //  Category: Mortgage

Senate Republicans angered the White House Thursday when they successfully blocked his nomination to head the Federal Housing Finance Agency.

The Senate couldn’t muster up the 60 votes needed to end debate and move to a vote on the nomination.

President Obama’s nominee, Rep. Mel Watt (D-N.C.), was more congenial than the administration, saying in a written statement that he remains “thankful for President Obama’s nomination and humbled by his confidence in me,””


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GOP Holds Up FHFA Director Confirmation

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Mortgage Rates Off Again, Likely to Hold

Author:  //  Category: Mortgage

Interest rates on home loans fell again, and all signs point to similar rates in the next report.

There wasn’t much movement with 30-year fixed rates this week, with the average falling 3 basis point from last week to 4.10 percent in Freddie Mac’s Primary Mortgage Market Survey for the week ended Oct. 31.

While it was the second consecutive weekly improvement, the average rate for 30-year mortgages was 71 BPS worse than this week last year, the secondary lender said.


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Mortgage Rates Off Again, Likely to Hold

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EverBank Continues Shrinking Mortgage Business

Author:  //  Category: Mortgage

Just a few months after disclosing plans to closed its wholesale lending channel, EverBank Financial Corp. announced an agreement to downsize its mortgage servicing business.

The Jacksonville, Fla.-based financial institution said in July that it was going to close down its wholesale lending business.

At the time, EverBank said it would increase its focus on generating production from the retail channel and from correspondent lending clients.


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EverBank Continues Shrinking Mortgage Business

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Wholesale Lenders Expand Offerings, Clients

Author:  //  Category: Mortgage

Several wholesale mortgage lenders have recently widened their offerings and expanded their customer bases. Among the new offerings are loans with special pricing, jumbo products and no-escrow programs.

A wholesale lending office was opened in July by Fairway Wholesale Lending. The facility is located in Denver.

The new office, which will handle mortgage brokers in Denver, Colorado Springs and other smaller markets, compliments wholesale centers in Naperville, Ill., and Plano, Texas.


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Wholesale Lenders Expand Offerings, Clients

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Laura Gottesdiener: On Housing and Fighting Back Against Dreams Delayed

Author:  //  Category: Mortgage

… are providing financial products like mortgages and various loans. It… , who was a top subprime loan mortgage lender at Wells Fargo in …

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Laura Gottesdiener: On Housing and Fighting Back Against Dreams Delayed

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SunTrust Abandoning Mortgage Broker Business

Author:  //  Category: Mortgage

SunTrust Banks Inc. has made a decision to close its mortgage broker lending business. The move is likely to reduce residential originations by more than 10 percent.

Subsidiary SunTrust Mortgage Inc. notified its wholesale clients on Wednesday that it intends to stop accepting business from mortgage brokers.

A statement from the Atlanta-based company indicated that it will focus its mortgage business on areas that represent the greatest opportunity.


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SunTrust Abandoning Mortgage Broker Business

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Serious Delinquency, Foreclosures Continue Falling

Author:  //  Category: Mortgage

It’s been more than a year and half since the rate of serious delinquency on home loans has deteriorated. The foreclosure rate has a similar record.

The latest reading on residential loan performance had delinquency of at least 90 days, including mortgages in the process of foreclosure and real-estate-owned, down around 10 basis points between August and September.

Serious delinquency improved for the third consecutive month. The last time the 90-day rate moved higher was in January 2012.


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Serious Delinquency, Foreclosures Continue Falling

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Midwest Bank Expanding Mortgage Staff

Author:  //  Category: Mortgage

A regional bank in the Midwest is looking to capitalize on opportunities that it expects to be created as bigger competitors pare operations and leave some markets underserved. It plans to add hundreds of mortgage and small-business lenders across its 12-state footprint.

The Mortgage Bankers Association projected this week that residential loan originations will drop from an estimated $1.7 trillion this year to $1.2 trillion in 2014.

As U.S. mortgage production has been falling, thousands of mortgage jobs at companies like Bank of America Corp., The PNC Financial Services Group, and Wells Fargo & Co. have recently been eliminated.


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Midwest Bank Expanding Mortgage Staff

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Rip-off Britain and scandal of pension fund charges

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… , greater than endowment mortgages, PPI, energy profiteering or even sub-prime mortgages. I refer …

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Rip-off Britain and scandal of pension fund charges

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The paradox of Alan Greenspan

Author:  //  Category: Mortgage

… ability to repay. “Subprime” home mortgages to weaker borrowers became …

The paradox of Alan Greenspan

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