3rd Time a Charm for Record-Low COFI

Author:  //  Category: Mortgage

For the third consecutive month, the Cost of Funds Index fell to a record low. Other adjustable-rate mortgage indices haven’t fared so well.

COFI, which is used to determine rate and payment changes on a small share of ARMs, slipped less than a basis point in August from a month earlier.

Based on the oldest available data for COFI going back to July 1981, the index currently stands at it lowest point on record.


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3rd Time a Charm for Record-Low COFI

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First National to Deliver Home Loans Through its Affiliate Guardian Mortgage Company

Author:  //  Category: Mortgage

Guardian Mortgage Company will now provide all primary mortgage loans for First National throughout New Mexico and Colorado.

DALLAS, TX AND SANTA FE, NM, USA, September 30, 2015 /EINPresswire.com/ — Guardian Mortgage Company and First National Bank of …

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First National to Deliver Home Loans Through its Affiliate Guardian Mortgage Company

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Freddie Revises 3-Yr Origination Forecast Up $280 Bil

Author:  //  Category: Mortgage

Economists at Freddie Mac have overhauled their estimates for mortgage originations from last year through next year, with an aggregate increase of $280 billion.

Freddie predicts that home lending by all U.S. lenders will fall from $400 billion during the third quarter of this year to $300 billion in the final quarter and $280 billion in the first three months of next year.

That is more optimistic than last month, when the secondary lender projected that loan closings would go from $380 billion to $285 billion in the fourth quarter and $260 billion in the first-quarter 2016.


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Freddie Revises 3-Yr Origination Forecast Up $280 Bil

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FHFA Criticized for QC, GSE Budget Review Process

Author:  //  Category: Mortgage

A pair of watchdog reports are critical of quality control and budget approval processes at the regulator of Fannie Mae and Freddie Mac.

The Federal Housing Finance Agency, which acts as both the regulator and conservator of Fannie and Freddie, has an Office of Quality Assurance.

The office is responsible for conducting internal reviews of FHFA divisions that perform its statutory examination and regulatory functions.


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FHFA Criticized for GSE QC, Budget Review Process

Author:  //  Category: Mortgage

A pair of watchdog reports are critical of quality control and budget approval processes at the regulator of Fannie Mae and Freddie Mac.

The Federal Housing Finance Agency, which acts as both the regulator and conservator of Fannie and Freddie, has an Office of Quality Assurance.

The office is responsible for conducting internal reviews of FHFA divisions that perform its statutory examination and regulatory functions.


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FHFA Criticized for GSE QC, Budget Review Process

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Radian to Insure High Balance, Higher LTV Loans

Author:  //  Category: Mortgage

Radian Guaranty Inc. has updated its guidelines to allow high-balance government-sponsored enterprise loans with higher loan-to-value ratios.

The mortgage insurance company said it is aligning its policies with recent updates announced by Fannie Mae on high-balance loans.

Fannie Mae made changes to its Federal Housing Finance Agency High-Balance loan requirements for purchase, rate-term refinances.


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Radian to Insure High Balance, Higher LTV Loans

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Mortgage Application Activity Slows

Author:  //  Category: Mortgage

Although interest rates on residential loans slipped, fewer prospective mortgage borrowers completed an application for a new loan.

In the week ended Sept. 25, retail applications for new home loans declined seven percent compared to seven days earlier.

That was based on the seasonally adjusted Market Composite Index, which reportedly reflects three-quarters of all U.S. retail residential loan applications.


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Mortgage Application Activity Slows

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Bank Settles St. Louis Redlining Allegations

Author:  //  Category: Mortgage

Just days after reaching a record redlining settlement with a bank in the Northeast, the government has extracted another settlement over alleged discrimination.

On Tuesday, the Department of Justice announced that it reached a settlement with Eagle Bank and Trust Company resolving allegations of lending discrimination in St. Louis.

The consent order comes just days after the Justice Department reached the largest redlining settlement of its kind with Hudson City Savings Bank, FSB.


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Bank Settles St. Louis Redlining Allegations

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Runners Prefer Cheap Running Shoes – A Study by RunRepeat.com

Author:  //  Category: Mortgage

Looking at 134,867 reviews of running shoes the review aggregator RunRepeat.com concludes that cheap running shoes get better reviews than expensive ones.

COPENHAGEN, DENMARK, DENMARK, September 30, 2015 /EINPresswire.com/ — RunRepeat.com has compiled …

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Runners Prefer Cheap Running Shoes – A Study by RunRepeat.com

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Grand Opening – lcNewberryArt.com Online Art Gallery

Author:  //  Category: Mortgage

Looking for Your Personal Wonderland? The new online gallery lcNewberryArt.com showcases oil paintings & prints to help you build it.

SURPRISE, ARIZONA, UNITED STATES, September 29, 2015 /EINPresswire.com/ — You live in a high-stress world, ’crazy …

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Grand Opening – lcNewberryArt.com Online Art Gallery

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