According to Inside Mortgage Finance, consumers owe $11.29 trillion on their first-liens, which means $782.1 billion worth of loans are potentially at risk.
The outlook for HECM lending remains positive as rates remain low and seniors move to tap home equity during these troubled economic times. (Includes data chart.)
Fannie and Freddie said borrowers can qualify for a reduction or suspension of mortgage payments for up to 12 months. During this time, homeowners will not incur late fees and foreclosure will be suspended.
Ultra-low interest rates are fueling both record originations and a stampede of debt offerings by mortgage firms far and wide. The latest participants: Rocket, NewRez and Fidelity National.
RAMS Mortgage Capital is taking bids on a $48 million package of commercial loans. The weighted average coupon is 6.14%. The real estate is located in Massachusetts, New Jersey and New York...