COFI Plunges to All Time Low

Author:  //  Category: Mortgage

The 11th District Cost of Funds Index took a sharp monthly downturn and fell to the lowest level on record.

The latest monthly data indicates that COFI came in 17 basis points lower in November than in October.

In fact, the latest reading shattered the record set just this past May, based on data available back to July 1981.


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Mortgage tax break expires despite bipartisan support in Congress

Author:  //  Category: Mortgage

… who won reductions in their mortgages has expired, alarming housing advocates … in the wake of the subprime housing market crash, the break … from banks, basically reductions in mortgage debt and so-called short sales … allegations that JPMorgan sold toxic mortgage-backed securities calls for the bank …

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Fannie Delinquency, Business at Lowest in Years

Author:  //  Category: Mortgage

More than five years have passed since multifamily delinquency has been this low at Fannie Mae , while it’s been nearly that long since serious residential delinquency was this good. New secondary volume also fell to a multi-year low.

New business acquisitions at the Washington, D.C.-based company worked out to 15 percent less during the month of November than in the prior month, according to monthly operational data.

Secondary activity at Fannie Mae, which has fallen each month since July, was last this slow in July 2011.


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Chinese economy keeps taking on water

Author:  //  Category: Mortgage

… just as surely as the sub-prime mortgage amortizations bought and sold by …

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Office Properties Lead Improvement in CMBS Lates

Author:  //  Category: Mortgage

The rate of late payments on securitized commercial real estate loans fell to the lowest level in years, and performance on office property loans led the improvement.

Servicers of CRE loans included in commercial mortgage-backed securities turned in a stellar performance in November with 30-day delinquency down 22 basis points from October.

Delinquency has been lower for each of the last 12 months. October was the first month that it fell below 6 percent since January 2010.


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History of boom and bust shows City can bounce back – and shares offer best returns

Author:  //  Category: Mortgage

… exotic products based around American sub-prime mortgages. When these products started  to …

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Mass. RMBS Settlements Surpass $300 Million

Author:  //  Category: Mortgage

Another settlement with the Commonwealth of Massachusetts over alleged practices used during the issuance of residential mortgage-backed securities pushes the total past $300 million.

A review of industry-wide residential mortgage securitization practices in Massachusetts was conducted by state’s office of attorney general.

So far, the investigation has yielded $284 million from the likes of Barclays Bank PLC, Goldman Sachs & Co., JPMorgan Chase & Co., Morgan Stanley and RBS Financial Products Inc.


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Wells Fargo to pay Fannie Mae $591 million in mortgage claim settlement

Author:  //  Category: Mortgage

… bad mortgages it sold to the government-controlled company during the subprime housing …

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The history of boom and bust shows the City can get back on track – and taking a risk on shares offers the best return

Author:  //  Category: Mortgage

… exotic products based around American sub-prime mortgages. When these products started  to …

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Wells Fargo agrees to pay $591 million to settle bad mortgages

Author:  //  Category: Mortgage

… housing finance giant during the subprime housing boom.The agreement covers … banks. The firms bundled the mortgages into securities and could try … to resolve disputes over toxic mortgages. The largest deal was a … with Freddie Mac on pre-2009 mortgages.
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