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FHA Biz and Delinquency Improve, HECM Biz Spikes
3/20/2018 6:13 PM
Monthly residential production picked up at the Federal Housing Administration, with reverse mortgage endorsements spiking. Single-family delinquency was down, and commercial mortgage endorsements jumped.....As of Jan. 31, FHA insurance was in force on 8,614,126 residential loans for $1.3183 trillion, according to an analysis of data reported...Read More
Mortgage Bankers Cut Q2 Purchase Forecast
3/20/2018 6:13 PM
Mortgage bankers have lowered their outlook for the second-quarter volume of loans made to finance a home purchase, though there was a slight bump in projected refinances.....Overall mortgage originations, including purchase financing and refinancing, is expected to work out to $346 billion during the first quarter of this year.....Prod...Read More
Growing Non-QM Wholesaler Adding TX Staff
3/20/2018 6:13 PM
A wholesaler that has capitalized on the origination of loans that don"t meet the requirements for Qualified Mortgages has opened a new Texas facility with plans to hire dozens of new employees.....Atlanta-based Angel Oak Mortgage Solutions LLC claims that it is the largest wholesale and correspondent provider of non-QM loans.....Parent...Read More
3/20/2018 6:13 PM
Despite recent escalation in mortgage interest rates, serious delinquency held steady last month. Current conditions suggest further continued strong performance.....Including first and second mortgages, bank cards and automobile loans, consumer delinquency of at least 90 days was 0.96 percent as of Feb. 28.....Serious consumer delinque...Read More
GNMA Jumbo Issuance at 3-Yr Low, HMBS at 6-Yr High
3/20/2018 6:13 PM
Monthly securitizations retreated at the Government National Mortgage Association. As jumbo issuance fell to a three-year low, reverse mortgage securitizations were the most in at least six years.....The aggregate unpaid principal balance of Ginnie Mae mortgage-backed securities outstanding as of Feb. 28 came to $1.9342 trillion, according to...Read More