3-Year High for Agency MBS Issuance

Author:  //  Category: Mortgage

The Federal Home Loan Mortgage Corp. led a month-over-month rise in the securitization of agency mortgages, which soared to a three-year high.

Issuance of fixed-rate mortgage-backed securities on behalf of Fannie Mae, Freddie Mac and Ginnie Mae totaled $126.884 billion during July.

Securitization activity last month was greater than it has been during any month since July 2013, when fixed-rate issuance came to $139.366 billion.


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3-Year High for Agency MBS Issuance

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CMBS Conduit Lending Sinks

Author:  //  Category: Mortgage

Despite a slight bump in overall quarterly commercial real estate lending, the volume of securitization conduit fundings turned sharply lower.

Compared to the first quarter of this year, commercial mortgage originations during the period from April 1 through June 30 jumped 17 percent.

A more telling comparison, the one between the second quarter of last year and the second quarter of this year, had CRE production up 1 percent.


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CMBS Conduit Lending Sinks

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COFI Mortgage Index Dips

Author:  //  Category: Mortgage

In line with interest rates in general as of late, the monthly 11th District Cost of Funds Index turned modestly lower.

COFI, which is utilized as an index for a small share of adjustable-rate mortgages, landed at 0.69 percent in June.

That was up ever so slightly when compared to one month previous, a month that saw an index of 0.691 percent.


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COFI Mortgage Index Dips

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Credit Czar David Howe Proclaims MCTV President Robert Gessner’s ACA Re-Election

Author:  //  Category: Mortgage

SubscriberWise founder, FICO G.O.A.T., and de facto credit czar David Howe proudly declares MCTV president and industry leader Bob Gessner’s ACA re-election.

MASSILLON, OH, USA, July 30, 2016 /EINPresswire.com/ — SubscriberWise, the nation’s largest …

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Credit Czar David Howe Proclaims MCTV President Robert Gessner’s ACA Re-Election

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FHA Lending Picks Up, But Delinquency Deteriorates

Author:  //  Category: Mortgage

Monthly residential business moved higher at the Federal Housing Administration, but so did the rate of past-due payments. Commercial lending activity, however, was mixed.

As of May 31, FHA insurance was in force on 8,448,630 residential loans — including single-family loans, home-equity conversion mortgages and Title I loans — for $1.2414 trillion.

FHA’s book of business grew from a month earlier, when the total was 8,447,949 loans for $1.2397 trillion, and a year earlier, when it stood at 8,319,924 loans for $1.2011 trillion.


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FHA Lending Picks Up, But Delinquency Deteriorates

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Originations, Servicing and Income Up at Impac

Author:  //  Category: Mortgage

As home-lending activity increased at Impac Mortgage Holdings Inc., so did the size of its mortgage servicing portfolio and the amount it earned.

The Irvine, California-based mortgage banking firm earned nearly $13 billion before income taxes during the three months that ended on June 30.

Income improved from more than $1 million three months earlier, though Impac came up short compared to the $17 million earned a year earlier.


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Originations, Servicing and Income Up at Impac

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Updates to TRID Rule Proposed

Author:  //  Category: Mortgage

Proposed changes to the TILA-RESPA integrated disclosures rule was welcomed by financial services associations, though three groups still have concerns.

On Friday, the Consumer Financial Protection Bureau released a proposal to update the Know Before You Owe Mortgage Disclosure Rule.

The disclosures, which are required under the Truth in Lending Act and the Real Estate Settlement Procedures Act, became effective in October 2015.


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HELOC Discrimination Settlement at Citizens Bank

Author:  //  Category: Mortgage

A financial institution out of the East has agreed to settle allegations that it discriminated against a woman who was on maternity leave.

Word of a conciliation agreement with two subsidiaries of Providence, Rhode Island -based Citizens Financial Group Inc. came on Friday.

The bank allegedly required a woman who was applying for a home-equity line of credit to return to work before it would approve her request.


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HELOC Discrimination Settlement at Citizens Bank

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Mortgage Refinances Rise, Purchases Fall

Author:  //  Category: Mortgage

A week-over-week increase in new refinance business wasn’t quite enough to offset a decline in purchase activity. Adjustable-rate and jumbo activity accelerated.

At 175, the U.S. Mortgage Market Index from OpenClose and Mortgage Daily for the week that ended on July 29 was off 1 percent from one week prior.

However, the index — which is a reflection of average per-user rate locks by clients of OpenClose –has increased by 31 percent compared to the same week in 2015.


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Fannie’s Biz at 3-Yr High, Lates at 8-Yr Low

Author:  //  Category: Mortgage

New business climbed to a nearly three-year high at the Federal National Mortgage Association, while delinquency fell to an eight-year low.

As of June 30 of this year, the Washington-based secondary mortgage lender had a book of business that added up to $3.1038 trillion.

The total increased compared to the end of the previous month, when it stood at $3.1009 trillion, but fell from $3.1101 trillion one year prior.


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Fannie’s Biz at 3-Yr High, Lates at 8-Yr Low

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