Low Mortgage Rates Likely to Stay Down

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Interest rates on home loans sank on uncertainty created by the British vote to exit the European Union and are likely to remain low in the next report.

During May, fixed interest rates on conventional 30-year mortgages that had loan amounts of $417,000 or less landed at an average of 3.89 percent.

The Federal Housing Finance agency, which reported the data, said conforming rates improved from a month previous, when they averaged 3.94 percent.


Low Mortgage Rates Likely to Stay Down

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Tougher Distressed FHA Loan Sale Requirements

Author:  //  Category: Mortgage

Investors of distressed Federal Housing Administration loans are facing tougher requirements that will benefit borrowers and avoid neighborhood blight.

The Distressed Asset Stabilization Program was launched by the Department of Housing and Urban Development in 2010 and enhanced in June 2012.

It was intended to reduce the shadow inventory of distressed mortgages while also providing struggling borrowers with an opportunity to save their homes.


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GSE Non-Performing Loan Sales Exceed $8 Billion

Author:  //  Category: Mortgage

A new report provides insight into the sale of non-performing loans by the Federal National Mortgage Association and the Federal Home Loan Mortgage Corp.

Fannie Mae and Freddie Mac have sold more than 41,600 non-performing mortgages with an aggregate unpaid principal balance of $8.5 billion through May 31.

Average delinquency on the residential loans that were included in the sales was 3.4 years, while the average current loan-to-value ratio came to 98 percent.


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GSE Non-Performing Loan Sales Exceed $8 Billion

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MSR Offering Could Exceed $1 Billion in GSE Loans

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A flow offering could work out to mortgage servicing rights on more than $1 billion in government-sponsored enterprise loans.

The future-flow-delivery offering involves MSRs on approximately 224 Fannie Mae residential loans for $75 million per month.

Although the minimum commitment is six months, the seller is hoping to enter into a 12-to-18-month future flow delivery deal.


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MSR Offering Could Exceed $1 Billion in GSE Loans

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Fannie Eases Requirements

Author:  //  Category: Mortgage

Updates to the Federal National Mortgage Association’s guidelines impact HomeReady loans, self-employed income and insurance requirements.

Prospective borrowers whose qualifying income is as much as 100 percent of the area median income will now be eligible for HomeReady loans.

In addition, no income limit will apply on HomeReady mortgages when the property securing the mortgage is located in a low-income census tract.


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Fannie Eases Requirements

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ALMtoolbox presents smart performance monitoring and alerting tool, including Free Community Edition

Author:  //  Category: Mortgage

ALMtoolbox today announced availability of a Free Community edition product called ALM Performance, based upon ALM Performance Pro, their monitoring solution

TEL AVIV, ISRAEL, ISRAEL, June 29, 2016 /EINPresswire.com/ — The Community edition of ALM …

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ALMtoolbox presents smart performance monitoring and alerting tool, including Free Community Edition

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FICO Global Highest Achiever David Howe to NBA Forever Greatest LeBron James: Our Children Need Your Help and Advocacy

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David Howe, SubscriberWise CEO and the world’s highest FICO achiever, asks NBA’s greatest-ever player LeBron James to help protect children from identity theft.

MASSILLON, OH, U.S.A., June 30, 2016 /EINPresswire.com/ — SubscriberWise®, the nation's …

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FICO Global Highest Achiever David Howe to NBA Forever Greatest LeBron James: Our Children Need Your Help and Advocacy

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D Magazine Names Guardian Loan Officers to ‘Best Mortgage Professionals’ List

Author:  //  Category: Mortgage

Wade Betz, Gracie Morrow and Mark Watson receive the prestigious honor.

DALLAS, TEXAS, USA, June 29, 2016 /EINPresswire.com/ — Guardian Mortgage Company customers can now work with a D Magazine “Best Mortgage Professional” no matter where in …

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D Magazine Names Guardian Loan Officers to ‘Best Mortgage Professionals’ List

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EU-New Zealand Free Trade will Boost French Investment

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Will suppress non-tariff barriers to New Zealand specialist agri processing equipment

NAPIER, HAWKES BAY, NEW ZEALAND, June 30, 2016 /EINPresswire.com/ — New Zealand’s specialist agri-business equipment manufacturers are poised to take advantage of the …

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BancorpSouth Settles Redlining Allegations

Author:  //  Category: Mortgage

A settlement has been reached between the government and Bancorp South Inc.’s banking subsidiary over allegations of discrimination and redlining.

Tupelo, Mississippi-based BancorpSouth Bank has agreed to settle allegations that it violated the Fair Housing Act and the Equal Credit Opportunity Act.

The financial institution is accused of redlining by meeting the needs of borrowers in white neighborhoods while avoiding lending in minority neighborhoods.


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BancorpSouth Settles Redlining Allegations

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