Colonial Savings F.A. has announced it will be exiting the mortgage origination business as of July 31. The Fort Worth, Texas-based thrift said it would continue to provide mortgage servicing along with the remainder of its full-service banking offerings. Colonial...
Mortgage rates were soaring again in the latest Primary Mortgage Market Survey from Freddie Mac (OTCQB: FMCC). The 30-year fixed-rate mortgage averaged 6.57% as of May 25, up from last week when it averaged 6.39%. A year ago at this time, the rate averaged 5.10%. The...
New data from CoreLogic has determined the overall U.S. mortgage delinquency rate plummeted to a new low in March. During March, 2.6% of all mortgages in the U.S. were in some stage of delinquency (30 days or more past due, including those in foreclosure). This...
A combination of ongoing financial stress and new jitters over the debt ceiling talks helped to scare aware potential mortgage borrowers. The Mortgage Bankers Association reported that its Market Composite Index, a measure of mortgage loan application volume,...
The national mortgage delinquency rate was up by 13% from the record low in March into April, according to new data from Black Knight Inc. (NYSE:BKI). But while that might seem extreme, the total U.S. delinquency rate in April was only a mere 3.31%. Early-stage...
Mortgage Bankers Association President and CEO Bob Broeksmit took aim and fired an angry volley at politicians and regulators that he said were trying to burden the mortgage banking industry with a new round of onerous regulation. Speaking today at the trade group’s...
Texas Attorney General Warns Localities Against Violating New Law in Raisin…
