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Mortgage News

 

Mortgage News

 
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Mortgage Statistics Updates


 
Mortgage Industry Content


Freddie Mac's Purchases and Issuances

Statistics Update Dec. 14
Freddie Mac's purchases and issuances, delinquency, and total mortgage debt outstanding has been updated through October.

ARM Indices

Statistics Update Dec. 14
1-year treasury yield, 6-month LIBOR, and SOFR have been updated for the week.

Housing Market Index

Statistics Update Dec. 13
The Housing Market Index measuring builder confidence in the market for newly-built single-family homes has been updated for November.

Mortgage Bankers Performance

Statistics Update Dec. 13
Average production profit per loan, as well as closings per sales employee have been updated for Q3 2018.

HECM Endorsements

Statistics Update Dec. 13
HECM endorsements have been updated through November for the calendar and fiscal years.



 

NY Appellate Court Rules On Foreclosure De-Acceleration of Debt

By CHRISTINA PARLAPIANO and ADAM WEISS Day Pitney LLP | Dec. 17
The New York Appellate Division, Second Department, recently decided an issue of first impression concerning the evidence necessary to prove the de-acceleration of mortgage debt in a residential foreclosure action.1 The borrower commenced an action to cancel and discharge the mortgage and note pursuant to RPAPL 1501(4) on the basis that the statute of limitations for commencement of a foreclosure action had expired after a prior foreclosure action was dismissed. The bank moved to dismiss, arguing that a de-acceleration letter sent, prior to the expiration of the six-year statute of limitations period, revoked the prior acceleration of the debt. The Second Department reversed the trial courtís order granting the bankís motion to dismiss.

Creating a Positive Customer Experience

By ART CASTNER National General Lender Services | Dec. 14
Creating an optimal customer experience has become increasingly critical for mortgage servicers as each customerís business becomes harder to earn and retain. Most servicers outsource the complex process of homeowner insurance tracking and must ensure their insurance tracking and lender-placed insurance provider ("provider") represents them well. Servicers can evaluate how effective a provider will be invdelivering a positive customer experience by confirming that the providerís offerings contain certain key attributes.

Rowan Alum, Kevin Crichton of E Mortgage Management Presented as Guest Speaker During the "Coffee with an Entrepreneur" Event at Rowan University

Press Release Dec. 11
Cherry Hill, New Jersey -- (Dec. 11, 2018) Kevin Crichton, President and Chief Operating Officer of E Mortgage Management, LLC (EMM) recently presented as guest speaker during a "Coffee with an Entrepreneur" event held at Rowan University to over 35 students.

Borrowers Rush to Refi as Rate Retreat, Mortgage Market Index Up

Press Release Dec. 11
DALLAS -- (Dec. 11, 2018) A sudden drop in interest rates last week had existing mortgage borrowers rushing to lock in rates for a refinance -- driving up the U.S. Mortgage Market Index from Mortgage Daily in the process.

Mortgage Market Index Rebounds from Holiday

Press Release Dec. 6
A modest rebound from the holiday week lifted the weekly U.S. Mortgage Market Index from Mortgage Daily. A seven-month high was recorded for FHA share.