While re-REMIC issuance is currently increasing, volume is nowhere near the levels seen in 2009 and 2010 when $60 billion in such product came to market.
Flagstar, a thrift that is also the largest remaining depository in the table funding sector, earned $25.5 million in the second quarter compared to a $78.9 million loss in 1Q.
Criticisms about servicing seem to be stubbornly resistant to much improvement, however, hovering in the 3,000 to 4,000 range for the last six quarters.
A signing bonus for an LO sounds nice, but keep in mind that a lender has to find a way to pay for that bonus, which could result in an increase in pricing.
Jumbo borrowers in the market for mortgage financing often decide to work with the bank they already have a relationship with, according to new qualitative survey results from the Campbell/Inside Mortgage Finance HousingPulse Tracking Survey. Real estate agents participating in the survey were asked what factors drive an affluent homebuyer’s lender selection when opting for mortgage financing instead of an all-cash home purchase. “I’ve found they like to ...
Mortgages with 620-679 credit scores accounted for more than half of FHA’s mortgage insurance business in the first quarter of 2014, up from 42.0 percent a year ago, according to the Department of Housing and Urban Development’s latest quarterly report to Congress on the state of the FHA Mutual Mortgage Insurance Fund. Data showed FHA-insured mortgages in the 620-679 credit score range, a band typically identified with borrowers with slightly tainted credit, comprised 51.1 percent of new endorsements in the first quarter. This was up from 50.1 percent in the fourth quarter of 2013. FHA endorsements in the 620-plus category started trending upward in the first quarter of 2011, while endorsements in the 720-850 credit score range began a slow decline during the same period. The distribution of borrower credit scores continued the migration seen in previous quarters, though at a ...
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