How to end the Great Stagnation

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… fuel the fateful boom in sub-prime mortgages.
China's foreign exchange …

How to end the Great Stagnation

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15-Year Loan Far More Competitive This Week

Author:  //  Category: Mortgage

The benefit of opting for a 15-year mortgage increased significantly this week as interest rates rose. The holiday week took a big toll on new business.

The U.S. Mortgage Market Index from LoanSifter and Mortgage Daily closed out the week ended Nov. 29 at 118. The index, which reflects average pricing inquiries per LoanSifter user, sank from 171 seven days earlier. No seasonal adjustment was made.

Business plummeted from 12 months earlier, when the index was 259 — though the year-earlier week did not include the Thanksgiving holiday. Year-earlier figures were revised to reflect statistics from the same data provider.


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15-Year Loan Far More Competitive This Week

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Fannie Business at 2-yr Low, Delinquency at 5-yr Low

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Fannie Mae had its worst month for secondary activity in more than two years. The good news is that residential delinquency was at its lowest level in nearly five years.

During October, new business acquisitions at the Washington, D.C.-based company were down 12 percent from month earlier, according to a monthly summary.

Based on historical data from the government-controlled enterprise, new activity has not been this slow since August 2011.


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Fannie Business at 2-yr Low, Delinquency at 5-yr Low

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Mortgage Insurance Activity Mixed

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Mortgage insurers wrote more policies on a monthly basis, but the dollar volume was down. Defaults, meanwhile, were lower.

Members of the Mortgage Insurance Companies of America issued 38,908 policies for $8.710 billion during October, according to monthly operational data released Friday.

The number of policies written was up from 37,501 a month earlier, but the dollar volume of activity declined from $9.575 billion.


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Mortgage Insurance Activity Mixed

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FHA Extends Recertification

Author:  //  Category: Mortgage

Some Federal Housing Administration mortgagees will have more time to file their annual recertifications because a key system won’t be ready on time.

FHA-approved lenders and mortgages have 90 days after their fiscal year end to complete the recertification process.

The recertification requirements are outlined in Title 24, Code of Federal Regulations, including Uniform Financial Reporting Standards, Approval of Lending Institutions and Mortgagees-General Approval Standards, and Approval of Lending Institutions and Mortgagees-Supervised Lenders and Mortgagees.


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FHA Extends Recertification

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How M.I. Changes Could Impact Borrowers

Author:  //  Category: Mortgage

The current system in place requires borrowers to foot the bill for mortgage insurance while giving lenders control of when it can be terminated. But what if lenders were required to pay for premiums?

The Homeowners Protection Act of 1998 required mortgage insurance premiums to be terminated when borrowers met certain thresholds.

Not long after that, Fannie Mae and Freddie Mac issued their own termination rules, while the Federal Housing Administration established termination rules applicable to loans it insures.


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How M.I. Changes Could Impact Borrowers

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No easy exit from West’s economic malaise

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… fuel the fateful boom in sub-prime mortgages.
China's foreign exchange …

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No easy exit from West’s economic malaise

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China will determine our economic future

Author:  //  Category: Mortgage

… fuel the fateful boom in sub-prime mortgages.
China's foreign exchange …

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China will determine our economic future

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No quick exit from West’s economic malaise

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… fuel the fateful boom in sub-prime mortgages.
China's foreign exchange …

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No quick exit from West’s economic malaise

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INSIGHT-No quick exit from West’s economic malaise

Author:  //  Category: Mortgage

… fuel the
fateful boom in sub-prime mortgages.
China's foreign exchange …

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INSIGHT-No quick exit from West’s economic malaise

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