While combined GSE servicing still accounted for a hefty 44.9 percent of single-family mortgages, it has continued to drift lower over the course of 2017…
Beginning in tax year 2018, a deduction won’t be allowed for interest paid on home-equity loans unless proceeds from the loan are used to improve the residence…
Fannie Mae and Freddie Mac likely will post healthy combined earnings for the fourth quarter in the range of $4.0 billion to $5.0 billion, according to an analysis by Inside Mortgage Finance. And un-der a surprise revision to their conservatorship terms, they’ll likely be able to keep a good deal of it.
Holdings of residential first-lien mortgages by banks and thrifts increased again in the third quarter of 2017, according to a new ranking and analysis by Inside Nonconforming Markets. Banks and thrifts held first liens with a total unpaid principal balance of $1.99 trillion as of the end of the third quarter, up 1.1 percent from the previous quarter and a 3.3 percent increase from a year ago. First-lien holdings are dominated by three big banks: Wells Fargo ... [Includes one data chart]
Since the start of 2015, credit ratings have been upgraded on nearly $350.0 billion of vintage non-agency MBS, according to Bank of America Merrill Lynch. The upgrades follow extensive down-grades during the financial crisis and can help create profits for investors.
The number 15th ranked Fairway Independent Mortgage wouldn’t provide a hiring estimate but CEO Steve Jacobson said, “We’re always open minded about opportunities.”
Marc Savitt, who runs The Mortgage Center, Martinsburg, WV, called the technology snafu a “big deal,” adding: “It’s taking weeks to receive we got in days.”
At Sept. 30, roughly $2.09 trillion – or 19.9 percent of total residential mortgages outstanding – were being subserviced by a vendor that didn’t own the underlying servicing strip…
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