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  • Mortgage Delinquencies Dip to Lowest Since 1995
    The seasonally adjusted delinquency rate for mortgage loans on one- to four-unit residential properties fell to 3.97% of all loans outstanding at the end of the third quarter, the Mortgage Bankers Association has announced, citing its survey results. That’s down 56 basis points from the prior quarter and 50 basis… Read more »
  • Ex-mortgage Broker Gets 8 Years in Jail for $1M Car Loan Fraud
    A federal judge has sentenced a former mortgage broker from Maryland to more than eight years in prison for a $1 million scam involving fake auto loan applications. So reports The Baltimore Sun. John O’Day, who worked as a loan officer with an unnamed mortgage brokerage company in Maryland between… Read more »
  • Fannie-Freddie Stock Sales May Happen By 2022: FHA
    Fannie Mae and Freddie Mac will probably be prepared for new public offerings by 2021 or 2022, the mortgage finance giants’ regulator has said. So reports Bloomberg. “If all goes well, 2021, 2022 we will see very large public offerings from these companies,” said Federal Housing Finance Agency Director Mark… Read more »
  • Feds Hit Mortgage Biz Short-sellers with Fraud Charges
    Federal prosecutors have charged the founders and operators of a Massachusetts mortgage business focusing on short sales with defrauding lenders and investors to the tune of almost $500,000. So reports the North Andover (Mass.) Eagle Tribune. Loss Mitigation Services LLC principals Gabriel T. Tavarez, 39, and Jaime L. Mulvihill, 40,… Read more »
  • J.D. Power Ranks Customers’ Favorite Mortgage Originators for 2019
    Quicken Loans took the top spot on J.D. Power’s ranking of customer satisfaction with primary mortgage originators for the 10th straight year, according to a report by the market information services company. Fairway Independent ranks second, according to the report, while Guild Mortgage Company comes in third. According to J.D.… Read more »
  • Bill Bodnar of MMG: Lower Rates for Longer Than Most Would Expect
    Bill Bodnar of the Mortgage Market Guide (MMG) discusses the impact of the strong labor market, inflation near its target and declning fears of a recession. He also notes three things to look out for this week. The post Bill Bodnar of MMG: Lower Rates for Longer Than Most Would… Read more »
  • Why the Time May Be Right for New Home Construction to Accelerate: First American
    Thus far in 2019, the story of the housing market has been a tale of strong housing demand and limited supply. On the demand side, steadily rising house-buying power has fueled greater demand. Falling mortgage rates and rising household income sparked a nearly 12.6% increase in house-buying power year to… Read more »
  • Housing Perspectives: Institutions and Geographic Concentration in VA Mortgage Lending
    The Veteran’s Administration (VA) home loan program, which makes homeownership more affordable for veterans, is used more extensively in places closer to major military installations, according to a new working paper from the Joint Center For Housing Studies of Harvard University. So writes Kerry Spitzer, Senior Clinical Research Coordinator at… Read more »
  • FHFA Requests Input On GSEs’ UMBS Pooling Practices
    The Federal Housing Finance Agency has announced that it issued a request for input about Fannie Mae’s and Freddie Mac’s pooling practices for forming “To-Be-Announced”-eligible Uniform Mortgage-Backed Securities (UMBS). Additionally, FHFA said it was asking for public input about Fannie Mae’s and Freddie Mac’s oversight of UMBS prepayment speeds and… Read more »
  • Sherlock: What I Learned from This Year’s MBA Conference
    At the MBA conference last week, I spoke with many senior executives at a variety of different-sized lenders about the state of mortgage banking and their concerns for the immediate future. Pat Sherlock Out of those conversations, two primary topics emerged: Many senior managers acknowledge that the refinance boom-let has… Read more »
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