Zillow Group earlier this month agreed to acquire Mortgage Lenders of America, a national residential originator based in Overland Park, KS. Shortly after the announcement was made, Zillow’s share price crumbled, suggesting that investors aren’t bullish on the mortgage business these days.
The government-sponsored enterprises’ new high loan-to-value refinance options will kick into gear for applications received on or after November 1. These programs serve as a replacement for the popular Home Affordable Refinance Program set to expire at the end of the year.
The Federal Home Loan Banks are offering a growing array of complex advance products and the Federal Housing Finance Agency wants to make sure they price the funding appropriately.
Wells Fargo is drafting its response to an apparent grilling by Senate Democrats over hundreds of improperly denied loan modifications, many of which ended in unnecessary foreclosures.
Mortgage delinquency rates fell sharply in the second quarter, according to the Inside Mortgage Finance Large Servicer Delinquency Index. [Includes one data chart.]
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