Servicing Income Slides on MSRs Valuations, Hedging

Author:  //  Category: Mortgage

Servicers of home loans saw income tumble last year thanks to valuations and hedging on mortgage servicing rights.

An average of 74,717 residential loans were serviced for $12.101 billion by non-bank mortgage servicers last year.

Servicing portfolios grew from the previous year, when an average of 63,570 loans were serviced for $10.249 billion.


Here is the original post:
Servicing Income Slides on MSRs Valuations, Hedging

Share/Save/Bookmark

Annual Mortgage Earnings Worse as Originations Drop

Author:  //  Category: Mortgage

As home loan production slowed last year, annual earnings at independent lenders sank. Factored into worse earnings were higher per-loan staffing costs.

Non-bank mortgage lenders originated an average of 6,779 home loans for $1.567 billion during the 12 months ended Dec. 31, 2014.

Business for the sector was down from 2013, when residential mortgage production averaged 7,857 loans for $1.754 billion.


Credit:
Annual Mortgage Earnings Worse as Originations Drop

Share/Save/Bookmark

Meet Ben Bernanke, the raconteur

Author:  //  Category: Mortgage

… that became bogged down by sub-prime mortgage loans. They just did not …

Excerpted from:
Meet Ben Bernanke, the raconteur

Share/Save/Bookmark

Home Prices Rise, Maybe Too Much

Author:  //  Category: Mortgage

U.S. home prices increased during the first month of the year, according to a closely watched index. But the pace of increase might price some shoppers out of the market.

In January, the S&P/Case-Shiller 20-City Home Price Index was 172.94, S&P Dow Jones Indices reported on Tuesday.

That was a 4.6 percent increase over a year earlier, more than the 4.5 percent year-over-year gain in home prices previously reported for the final month of last year.


Read more here:
Home Prices Rise, Maybe Too Much

Share/Save/Bookmark

Settlement Cost and You Booklet Being Replaced

Author:  //  Category: Mortgage

As part of the upcoming process of implementing integrated disclosures, a new booklet has been released that will replace one that is currently in use.

The new booklet is part of the transition from current disclosures required by the Truth In Lending Act and the Real Estate Settlement Procedures Act to integrated disclosures.

It will replace the Settlement Cost booklet that is currently required by RESPA on Aug. 1 when the integrated disclosures become mandatory. The outgoing booklet was developed by the Department of Housing and Urban Development.


See the rest here:
Settlement Cost and You Booklet Being Replaced

Share/Save/Bookmark

FHA Business Slips But Set to Soar

Author:  //  Category: Mortgage

New business dipped in the first month of this year at the Federal Housing Administration, but an escalation in new applications points to a strong first quarter. Delinquency, meanwhile, was down again.

Operational data released by the Department of Housing and Urban Development indicate that FHA endorsed 1 percent less in residential during January than in December.

The total — which includes single-family loans, home-equity conversion mortgages and Title I loans — was up, however, 3 percent from January 2014.


Read more:
FHA Business Slips But Set to Soar

Share/Save/Bookmark

LOANS4LESS.COM Enters into an Acquisition Agreement with 321LEND, a Consumer Lending and Peer-To-Peer Technology Platform; Seeks Bank Strategic Partner for National Mortgage Broker Origination and Brand Exposure Opportunitie

Author:  //  Category: Mortgage

… bank partner to launch
national mortgage broker origination, increase brand awareness … brand
platform for conforming residential mortgage programs and other consumer
loans … associated in the past with
Sub-Prime lending. Loans4Less.com relies on …

See the original post here:
LOANS4LESS.COM Enters into an Acquisition Agreement with 321LEND, a Consumer Lending and Peer-To-Peer Technology Platform; Seeks Bank Strategic Partner for National Mortgage Broker Origination and Brand Exposure Opportunitie

Share/Save/Bookmark

Orange County Business Journal Honors Rick and Patty Arvielo for Excellence in Entrepreneurship

Author:  //  Category: Mortgage

New American Funding, announces their CEO and President, have each received the Excellence in Entrepreneurship award from the Orange County Business Journal

TUSTIN, CA, USA, March 31, 2015 /EINPresswire.com/ — New American Funding, a national mortgage …

Read the original:
Orange County Business Journal Honors Rick and Patty Arvielo for Excellence in Entrepreneurship

Share/Save/Bookmark

HELOC Market Heats Up

Author:  //  Category: Mortgage

Although outstanding balances on all home-secured credit products diminished, new activity on credit lines secured by residential properties is strengthening.

As of February, 49.9 million first mortgages were outstanding for $8.1501 trillion as of February, off just $0.0038 trillion from a year earlier.

Write-offs on first mortgages worked out to 5.2 BPS as of February. That was down 30 percent compared to the same month last year.


View original post here:
HELOC Market Heats Up

Share/Save/Bookmark

MSRs on $10 Billion in GSE Loans Hit Market

Author:  //  Category: Mortgage

Bids are being solicited on a portfolio of mortgage servicing rights on $10 billion in government-sponsored enterprise loans.

The offering involves MSRs on approximately 42,970 Fannie Mae and Freddie Mac loans with an aggregate principal balance of roughly $10 billion.

More than a quarter of the properties backing the loans are located in California, while 12 percent are in Colorado and 7 percent are in Washington.


Excerpted from:
MSRs on $10 Billion in GSE Loans Hit Market

Share/Save/Bookmark