All seven active mortgage insurance companies reported a total of $31.34 billion of new primary insurance written during the first quarter, according to calculations from Inside Mortgage Finance.
Five Oaks will allow for cash-out refis for loans with balances of up to $1 million. The maximum allowable loan-to-value ratio is 65 percent, but the company may eventually go to 70 percent.
Industry trade group officials and lobbyists anticipate that no meaningful progress will be made on housing and GSE reform legislation until 2017 after a new president and Congress are elected.
PHH Corp. is continuing talks with several potential buyers about its mortgage division but is revealing little information on when it might ultimately announce a deal. In a recent conference call with analysts, company President and CEO Glen Messina would only say that “we’ve been actively engaged in detailed discussions with several interested parties” regarding both PHH Mortgage and its fleet business. Messina would not provide any more color than that. As reported by Inside Mortgage Finance last month, possible buyers include...
Real estate agents are more likely to recommend lenders that provide reliable preapprovals to potential homebuyers, according to a survey conducted by Campbell Surveys and sponsored by Inside Mortgage Finance. Positive interactions with real estate agents could help lenders boost business as the market has shifted toward purchase mortgages from refinances. “Real estate agents frequently recommend mortgage providers, and homebuyers frequently accept these recommendations,” said Tom Popik, research director of Campbell Surveys. The new survey of more than 2,000 real estate agents found...
The disclosure regime envisioned by the SEC prompts even greater privacy concerns than the initial proposal, according to a number of non-agency MBS issuers.
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