Bank of America announced Thursday that it will cease making new refinance mortgage sales to Fannie Mae as the mortgage heavyweights tangle over sensitive buyback claims from the financial crisis. The bank will stop selling first-lien refinance loans to the GSE for securitization purposes this … [Read more...]
Default Rates Drop Nationwide in January
February 21, 2012 by
Data through January 2012, released by Standard & Poor's (S&P) Indices and Experian for the S&P/Experian Consumer Credit Default Indices, a measure of changes in consumer credit defaults, has shown that most loan types saw a decrease in default rates during January. After four consecutive months of … [Read more...]
HUD Pulls Back Proposal Allowing Farm Credit Banks to Participate in FHA Loans
February 17, 2012 by
The U.S. Department of Housing & Urban Development (HUD) has withdrawn a proposed rule to amend HUD’s regulations to allow Farm Credit System banks to participate in the Federal Housing Administration’s (FHA) mortgage loan guarantee program as mortgagees and lenders. The proposed rule was … [Read more...]
Integra Group Real Estate Launches Short Sale Division
February 14, 2012 by
Integra Group Real Estate LLC, a brokerage firm specializing in the marketing and sale of real estate-owned (REO), U.S. Department of Housing & Urban Development (HUD) and distressed properties, has officially introduced its short sale department to assist homeowners with the resale of homes nearing … [Read more...]
NCRA’s 19th Annual Conference Closes to Great Reviews
February 8, 2012 by
Similar to a major holiday, after lots of planning and work, our National Credit Reporting Association Inc. (NCRA) annual conference seems to be over before we know it and 19th Annual Conference is now one for the history books. This year garnered 108 participants, representing more than half of the … [Read more...]
Eight Thought-Starters for Mortgage Professional Blogging
January 25, 2012 by
You’ve heard and read a lot about personal branding, and now you’re ready to post some blogs, upload some videos and build some social networking profiles. Whoa. Was that the sound of screeching tires? See original article: Eight Thought-Starters for Mortgage Professional Blogging … [Read more...]
FGMC Adds to Company’s Management Team
January 23, 2012 by
First Guaranty Mortgage Corporation has appointed a new assistant vice president, with the announcement that Lyle Lasky will join the company at its national underwriting and credit compliance manager. See original article: FGMC Adds to Company's Management Team … [Read more...]
Mortgage Application Volume Jumps 23.1%: MBA
January 19, 2012 by
Mortgage application volume shot up 23.1 percent on a seasonally adjusted basis, largely on a refinancing surge that eclipsed averages year-over-year as investors frittered about Europe. The Mortgage Bankers Association reported the figures in its latest Weekly Mortgage Applications Survey. The … [Read more...]