Finance of America Lending/Servicing/Staffing Down

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Quarterly mortgage originations were slower at Finance of America Holdings LLC. Also diminishing was the lender’s staffing and servicing portfolio.

The Horsham, Pennsylvania-based firm serviced 15,514 single-family loans with an aggregate unpaid principal balance of $3.272 billion as of March 31.

Finance of America disclosed the data, along with other operational metrics, as part of the Mortgage Daily First Quarter 2017 Mortgage Origination Survey.


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Office Drives Improvement in CMBS Delinquency

Author:  //  Category: Mortgage

After worsening for several months in a row, the past-due rate on securitized commercial real estate loans moved lower. Office building loans drove the decline.
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Loans that are included in commercial mortgage-backed securities had a 30-day delinquency rate of 3.09 percent as of May 31, 2017.

The ratio of past-due CMBS payments improved from 3.14 percent the preceding month — when delinquency had been up five consecutive months.


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Regal Credit Management Expands to United Kingdom

Author:  //  Category: Mortgage

NEW YORK, NY, UNITED STATES, June 26, 2017 /EINPresswire.com/ — Regal Credit Management has announced that as of the thirteenth of April 2017 its United Kingdom’s entity has been incorporated. Expanding Regal’s horizon and range of business is a …

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Ugly House Buyer Deceives Investors

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The guilty plea of a former franchise owner of We Buy Ugly Houses has prompted the company to issue a statement condemning the real estate fraud.

Karen Lynn McClaflin and a partner opened an ugly houses franchise in late 2005. The venture was named Trademark Properties and Trademark Reality.

The Colorado Springs, Colorado, business used investor money to purchase and renovate distressed homes. They would resell those properties at a profit.


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Senior Mortgage Executives’ Non-GSE Outlook Strong

Author:  //  Category: Mortgage

Senior mortgage banking executives are expecting that demand for non-agency programs will intensify. At the same time, the group expects requirements on such programs to ease.

On loans to finance a home purchase that are eligible for government-sponsored enterprise programs, half of home-lending executives experienced increased demand over the past three months.

At the same time, 22 percent reported that consumer demand had weakened. That put the net-up share at 28 percent, far below the 70 percent net-up share in the year-prior period.


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Telegraph – Barclays digs in for U.S. fight

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… for its role in the sub-prime mortgage collapse that rocked the global … (FIRREA) because the bank’s sub-prime securities did not cause any …

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RUDY L KUSUMA TEAM NUVISION HAS BEEN RANKED AMONG THE TOP 125 REALTORS IN AMERICA

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REAL TRENDS HAS RECENTLY PUBLISHED A LIST OF THE BEST REAL ESTATE TEAMS IN AMERICA & TEAM NUVISION IS LEADING THE WEST COAST

LOS ANGELES, CA, UNITED STATES, June 26, 2017 /EINPresswire.com/ — REAL Trends has announced that TEAM NUVISION – …

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RUDY L KUSUMA TEAM NUVISION HAS BEEN RANKED AMONG THE TOP 125 REALTORS IN AMERICA

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ARMs, Refis Lead Weekly Mortgage Market Index Down

Author:  //  Category: Mortgage

A week-over-week decline in new mortgage activity was led by a big drop in demand for adjustable-rate mortgages and refinances. One bright spot was jumbo business, which overcame price deterioration.

In the seven days that concluded on June 23, the Mortgage Market Index from Mortgage Daily was 134. The index is an indication of upcoming originations based on OpenClose rate-lock volume.

An 18 percent decline from the previous week was recorded for the index, which is not adjusted for seasonal factors. Compared to the same week last year, the MMI has retreated 14 percent.


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Echoes of 2007 credit crunch in Britain

Author:  //  Category: Mortgage

… has already done this with mortgages, limiting the proportion of loans … have been drawn with the sub-prime mortgage bubble which led to the … more difficult to get a mortgage, forcing borrowers to show their … substantially more paperwork has slowed mortgage lending. That could be replicated …

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Federal Home Loan Mortgage : Fannie, Freddie easing up on appraisal requirements

Author:  //  Category: Mortgage

… plan to transition to appraisal-free mortgage for certain loan applications. Though … ; to the disastrous practices of subprime lenders during the housing boom … that they are introducing appraisal-free mortgages carefully and responsibly. Appraisers have …

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