Small Portfolio of Non-Performing GSE Loans Sold

Author:  //  Category: Mortgage

A buyer has been found for a small portfolio of government-sponsored enterprise residential loans that are severely delinquent.

The transaction involves 158 Federal National Mortgage Association loans that have an unpaid principal balance of nearly $26 million.

On a weighted-average basis, the loan-to-value ratio based on broker price opinions is 93.46 percent and the note rate is 5.29 percent.


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Small Portfolio of Non-Performing GSE Loans Sold

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FOXGATE AT ISLIP – Groundbreaking Ceremony Announced

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Construction is in Overdrive on Pool, New Phase

CENTRAL ISLIP, NEW YORK, UNITED STATES, March 28, 2017 /EINPresswire.com/ — The Foxgate at Islip team is busy taking the next steps in the development of the 184-unit private residential community. In …

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Home Price Gains Weaken, Though NY Strong

Author:  //  Category: Mortgage

National home prices were little changed on a month-over-month basis, though the Empire State fared well. The Northwest had the strongest year-over-year gains.

As of January 2017, the Federal Housing Finance Agency U.S. House Price Index was calculated to be 242.6 on a seasonally adjusted basis.

While the index was mostly the same as it was during the final month of last year, it has moved higher by 5.7 percent compared to the first month of last year.


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Mastodon on Timelessness, Loss and Transcending Heavy Metal

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… seething rage that underscores the sub-prime mortgage housing crisis in The Big …

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Developing Emotional Connection Pays Big Dividends

Author:  //  Category: Mortgage

With all mortgage players effectively using technology to improve the customer experience, lenders need to develop an emotional connection to drive growth.

Among home-loan customers, just 12 percent of those who are highly satisfied would be willing to pay higher rates and fees on future mortgages.

But the share who would pay more soars to 68 percent among those mortgage customers who are considered to be emotionally connected.


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FHFA Criticized for GSE Examiner Process

Author:  //  Category: Mortgage

A new watchdog report criticizes the regulator of the government-sponsored enterprises for not ensuring that its examiners follow a formal rotation process.

At the Office of the Comptroller of the Currency, Board of Governors of the Federal Reserve System and Federal Deposit Insurance Corp., examiners are systematically rotated.

The three bank regulators have recognized the benefits of examiner rotation and have adopted written policies and practices that require the rotation of their examiners.


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Why Home Buyers Should Consider Adjustable-Rate Mortgages

Author:  //  Category: Mortgage

… the 30-year, fixed-rate mortgage, which has dominated the mortgage market since the … a black eye in the subprime debacle, today’s versions have … products like interest-only mortgages are no longer converted to mortgage-backed securities with …

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The World of Loan Origination Systems

Author:  //  Category: Mortgage

Loan origination systems for mortgage firms have recently been evaluated, enhanced and integrated with offerings from other technology service providers.

The 2017 Technology Insights Survey from SRATMOR Group included results data to assess the LOS landscape’s readiness for coming digital mortgages.

According to the report, off-the-shelf LOS systems come up short — with low user satisfaction, and LOS systems are not delivering what they could.


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The World of Loan Origination Systems

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Mortgage Expansion Planned for Bank Merger

Author:  //  Category: Mortgage

A bank merger that was completed last summer was expected to enable the planned expansion of three business, including the residential lending business.

When KeyCorp acquired First Niagara Financial Group last year, it was expected that around 300 employees would initially be needed to handle all mortgage functions.

That was because Cleveland-based KeyCorp’s home-lending subsidiary, KeyBank Mortgage, outsourced its production and portfolio management to PHH Mortgage.


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Home Purchase Financing to Rise, Refis to Drop

Author:  //  Category: Mortgage

While quarterly and annual mortgage refinance production is expected to tumble, the volume of loans to finance home purchases is predicted to climb.

Originators of residential loans are expected to generate $335 billion in total mortgage originations during the first three months of this year.

Home lending is then expected to leap to $443 billion in the second quarter before retreating to $432 billion in the following three-month period.


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