First-quarter home-loan fundings fell more than 10 percent from the fourth quarter at PHH
Residential delinquency of at least 90 days improved 7 basis points in March at Freddie Mac.
The last time delinquency declined at Freddie was in May 2007.
Purchases and issuances, meanwhile, edged up 6 percent.
See the rest here:
Freddie Delinquency Lower, Purchases Higher
SecoLink Settlement Services is preparing to close down by June 30.
The First American Corp. holds a 51 percent stake in the SecoLink.
The other 49 percent is owned by KeyBank
View original here:
1st American Unit Closing
A new apartment financing program was announced by Prudential Mortgage Capital Co.
The program is a short-term loan for multifamily properties.
It can be used to finance the purchase or refinance of multifamily properties that are not eligible for financing with either Fannie Mae or Freddie Mac.
Continued here:
Non-Agency Multifamily Program Launched
The number of mortgage insurance policies written during March shot up by nearly half from February, according to data from the Mortgage Insurance Companies of America.
Based on dollar volume, businsess was up a quarter.
At the same time, the number of primary defaults declined 8 percent from the previous month.
Compared to the previous year, defaults were down one-quarter.
More:
M.I. Firms Post Strong March
The Mortech-MortgageDaily.com Mortgage Market Index for the week ended April 28 improved to 228 from 224 last week.
The jumbo 30 year jumped to 5.84% from last week’s 5.79%.
The latest activity pushed the spread between the conventional and jumbo 30-year mortgage to 73 BPS from 68 BPS in the previous report.
Read more:
Business Up as Jumbo Spread Widens
The U.S. Department of Housing and Urban Development’s Office of Inspector General has split the Midwest region into two regions, an OIG
The right technology can help loan officers keep up with the many fees listed in the new Good Faith Estimate, attendees were told at the Mortgage Bankers Association’s annual mortgage technology conference.
Technology helps in keeping track of all the entries, including those still needed, and limiting changes to only those allowed.
“It’s not a good faith estimate; it’s a binding offer,” cautioned one panelist.
See more here:
Technically Compliant
In its first-quarter Refinance Report, Freddie Mac said 28 percent of refinance transactions included cashout.
The dollar volume of first-lien cashouts tumbled percent from the fourth-quarter 2009.
Compared to a year earlier, equity extracted fell by more than half..
Here is the original post:
Cashouts Volume Slides
On a recent article published by the Australian trade news pubication Lending Central, several readers from the Australian mortgage community commented about the U.S. mortgage market.
Lending Central and MortgageDaily.com are in a content alliance, and the story included material covered by MortgageDaily.com.
Most of the comments were fiercely anti-American, with one reader writing, “This isn’t the first time they have nearly destroyed themselves financially and it won’t be the last.”
More here:
Aussie Anti-American Sentiment High