Mortgage Industry News
Ginnie Mae’s MBS Portfolio Reached Nearly $3 Trillion in April
The agency said the pooling and securitization of loans in April benefited more than 160,000 households, including over 58,000 first-time homebuyers. Continue Reading Ginnie Mae’s MBS Portfolio Reached Nearly $3 Trillion in April
Rocket Sues UWM, Claiming Breach of Contract of MSR Agreement
The lawsuit accused UWM chief executive Mat Ishbia of using foul language to proclaim his hatred for Rocket. Continue Reading Rocket Sues UWM, Claiming Breach of Contract of MSR Agreement
Purchase Activity Fuels Mortgage Application Uptick
The FHA share of total applications increased to 17.1% from 15.8% the week prior. Continue Reading Purchase Activity Fuels Mortgage Application Uptick
Mortgage Credit Availability Improved in February
“Most of last month’s supply growth was in loan programs that allowed for cash-out refinance and on investor homes,” said MBA’s Joel Kan. Continue Reading Mortgage Credit Availability Improved in February
PennyMac Debuts Non-QM Product Suite
The new products are designed to “help TPO partners solve complex borrower scenarios, expand their addressable market, and close more loans.” Continue Reading PennyMac Debuts Non-QM Product Suite
CFPB: Mortgage Servicers Preying on Divorced and Widowed Borrowers
The CFPB report also noted that domestic violence survivors face additional problems with servicers. Continue Reading CFPB: Mortgage Servicers Preying on Divorced and Widowed Borrowers
New York State Considers Expanding CRA Law to Cover Nonbank Mortgage Lenders
The proposed regulation tests will take place where the nonbanks are originating loans rather than where they have a physical branch presence. Continue Reading New York State Considers Expanding CRA Law to Cover Nonbank Mortgage Lenders
Mortgage Application Activity Down Slightly
The MBA reported mortgage applications for new home purchases in November were up 7.2% year-over-year. Continue Reading Mortgage Application Activity Down Slightly
Mortgage Rates Take Another Drop
The 30-year fixed-rate mortgage averaged 6.60% as of Dec. 12. Continue Reading Mortgage Rates Take Another Drop
Refinance Surge Drives Up Mortgage Applications
The Refinance Index enjoyed a 27% bump-up from the previous week and was 42% higher than the same week one year ago. Continue Reading Refinance Surge Drives Up Mortgage Applications
Mortgage Rates in a Modest Drop
The 30-year fixed-rate mortgage averaged 6.69% as of Dec. 5. Continue Reading Mortgage Rates in a Modest Drop
Mortgage Application Activity Up Nearly 3%
The seasonally adjusted Purchase Index increased 6% from one week earlier. Continue Reading Mortgage Application Activity Up Nearly 3%
Three Bay Area Real Estate Professionals Sentenced for Mortgage Fraud Scams
“The defendants tried to line their own pockets at the expense of homebuyers, lenders, and federally insured programs,” said US Attorney Ismail J. Ramsey. Continue Reading Three Bay Area Real Estate Professionals Sentenced for Mortgage Fraud Scams
Mortgage Rates Stay Flat Ahead of Holiday Weekend
The 30-year fixed-rate mortgage averaged 6.81% as of Nov. 27. Continue Reading Mortgage Rates Stay Flat Ahead of Holiday Weekend
Mortgage Application Activity Rises by 6.3%
The refinance share of mortgage activity decreased to 38.8% of total applications from 41% the previous week. Continue Reading Mortgage Application Activity Rises by 6.3%
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