COFI Dips Near Record Low

Author:  //  Category: Mortgage

A minuscule monthly decline in the Cost of Funds Index during the final month of last year left it at the second-lowest level on record.

During the month of December, COFI worked out to 0.599 percent — the second-lowest level on record based on data back to 1981.

COFI, which is utilized as an index for some legacy adjustable-rate mortgages, eased ever so slightly from 0.603 percent in November.


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COFI Dips Near Record Low

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Fannie Eases Appraisal Requirements

Author:  //  Category: Mortgage

Policy updates and clarifications made by the Federal National Mortgage Association will make appraisal reports easier to complete.

Appraisers are currently required by Fannie Mae to use at least one comparable sale from the same subdivision as the subject property.

The Washington-based firm also requires a second comparable sale from another subdivision, while the third can be inside or outside.


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Another Illegal Fee Settlement at Prospect Mortgage

Author:  //  Category: Mortgage

A little more than a year after Prospect Mortgage LLC settled allegations of illegal fees received by an appraisal affiliate, it has reached another illegal fee settlement.

In November 2015, the Multi-State Mortgage Committee announced that the Sherman Oaks, California-based company agreed a settlement with 50 state regulators.

At issue were improperly disclosed and unsupported settlement service fees paid to affiliate C2C Appraisal Services LLC for services performed by Prospect employees.


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MyPractice9 Announces Major Service Expansion

Author:  //  Category: Mortgage

Company Expands Services To 10,000 Additional Private Practice Dentists

IRVINE, CALIFORNIA, USA, January 31, 2017 /EINPresswire.com/ — MyPractice9 (www.mypractice9.com) announced today that the Company will be opening its online services to several …

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Churchill Mortgage Lending Fades, Staffing Expands

Author:  //  Category: Mortgage

Quarterly home-lending activity receded at Churchill Mortgage Corp. as the residential servicing portfolio held steady. But the company increased its headcount.

As of Dec. 31, 2016, the Brentwood, Tennessee-based organization serviced two home loans that had an aggregate principal balance of less than $0.001 billion.

Churchill delivered the metrics, in addition to other operational statistics, as part of the Mortgage Daily Fourth Quarter 2016 Mortgage Origination Survey.


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Respite From Deteriorating CMBS Delinquency

Author:  //  Category: Mortgage

After ascending to a 14-month high, the rate of past-due payments on securitized commercial real estate loans took a turn for the better.

At the close of the first month of this year, 30-day delinquency on loans included in commercial mortgage-backed securities was 5.18 percent.

Delinquency declined from year-end 2016, when the rate was 5.23 percent — the highest it’s been since it was also 5.23 percent October 2015.


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FHA Delinquency Rises

Author:  //  Category: Mortgage

Monthly residential Federal Housing Administration business was little changed, as was its book of business. But deterioration was reported in the rate of single-family delinquency.

An analysis of data reported by the Department of Housing and Urban Development indicates insurance was in force on 8,456,057 residential loans for $1.2551 trillion as of Nov. 30, 2016.

FHA’s book consisted of $1.1103 trillion in single-family units, $0.1438 trillion in home-equity conversion mortgages and 39,119 Title I loans with an unpaid principal balance of $0.0010 trillion.


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Massey Consulting Announces the New Position and Hire of an Intacct Consultant and Project Manager

Author:  //  Category: Mortgage

RALEIGH, NORTH CAROLINA, USA, January 31, 2017 /EINPresswire.com/ — Raleigh, N.C, January 31, 2017—Massey Consulting, a leading accounting software consulting firm in Raleigh, NC, announced that they have signed Ellen Grantham to their newly formed …

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Nexus Gold Announces Drilling on High Grade Quartz Vein

Author:  //  Category: Mortgage

Diamond Drilling Commences on High Grade Quartz Vein, Niangouela Gold Concession, Burkina Faso, West Africa,

Drills to Target High Grade Gold Anomalies

VANCOUVER, BRITISH COLUMBIA, CANADA, January 31, 2017 /EINPresswire.com/ — Nexus Gold Corp. (NXS. …

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

Author:  //  Category: Mortgage

The Federal National Mortgage Association’s book of business climbed to a nearly three-year high, while delinquency fell to a nearly eight-year low.

As of the conclusion of last year, the total book of business at the Washington-based secondary mortgage lender worked out to $3.1442 trillion.

Fannie Mae grew the total from Nov. 30, 2016, when it was $3.1442 trillion. It also expanded from Dec. 31, 2015, when it was $3.0994 trillion.


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

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