Some stakeholders said they called the firm’s investor relations department about the latest probe and were told the firm would be saying more about the matter when it reports first quarter earnings.
The conditional prepayment rate for prime jumbo, Alt-A and subprime loans dropped to 14.7 percent, 10.3 percent and 8.8 percent, respectively, in the first quarter of 2014, according to the ratings service.
ICYMI: Late last week, the Consumer Financial Protection Bureau released its guide to completing its integrated disclosure forms under the Real Estate Settlement Procedures Act and the Truth in Lending Act.
A new report by Fannie Mae finds that second-home mortgage market activity is in the midst of a strong rebound, representing a small yet significant corner of the mortgage market.
The total past-due rate on mortgages has declined in almost every quarter since the second quarter of 2011, helped by increasing home prices. However, not all vintages are performing in-step, as delinquencies are starting to increase on loans originated in 2004 and before.
While Congress is halfway through its two-week Easter/Passover recess, political pressure continues to build against the Senate’s bipartisan housing finance reform legislation, leading to growing doubt whether the scheduled markup of the bill will occur as scheduled later this month.
Mortgage-banking income at nine major banks declined by 27.7 percent in the first quarter of 2014 compared with the previous quarter, according to an analysis by Inside Mortgage Trends.
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