Daniel Hyman, a portfolio manager at PIMCO, said in a recent report that the buydowns lead to new-build homes selling at an inflated value that a homeowner is unlikely to match when they try to sell later.
Some of the largest servicers of loans in Ginnie Mae mortgage-backed securities saw portfolios shrink in the first quarter, according to a new ranking and analysis by Inside FHA/VA Lending. (Includes four data tables.)
The U.S. Department of Agriculture’s Rural Housing Service proposed excluding real estate commission fees from interested party contributions as part of an effort to lower closing costs for buyers.
The Mortgage Bankers Association’s chief economist warned of some deterioration in FHA loan pools, even as the industry and Ginnie Mae write off the recent increase in delinquencies as an immaterial consequence of altered modification timelines.
M&T Bank’s mortgage-banking income declined in the first quarter because of a change in how it values mortgage servicing rights. The bank is optimistic its FHA subservicing business will see stronger returns in the second half of the year.
The Office of the Comptroller of the Currency entered into a consent order with Chicago-based Federal Savings Bank to settle allegations that the bank misled VA borrowers on refinance loans.
FHA reminds servicers of occupancy verification; Georgia’s Community Bankshares gets a slap on the wrist for USDA business; FDIC appoints FHA advisor; FHA spreads narrow.