Bank Mortgage Delinquency Up, Foreclosures Down
Although the quarterly non-current rate of residential loans serviced by banks worsened, foreclosures started and completed fell as did the foreclosure rate.
Freddie's New Business Sinks to 12-Month Low
It's been a year since secondary activity was this low at the Federal Home Loan Mortgage Corp. Delinquency, meanwhile, fell to a new post-crisis low.
3rd Consecutive Monthly Mortgage Delinquency Drop
For the third month in a row, the share of mortgages that were past due at least one month or in the foreclosure process has moved lower.
Executive Changes in Mortgage Boardrooms, C-Suites
During the past week, there have been boardroom changes at a mortgage servicer and government-sponsored enterprise. One firm appointed an interim chief financial officer.
Mortgage Servicers Swing to Profit on MSR Gains
Earnings at independent servicers of residential loans swung to a profit in the final quarter of last year. Behind the improvement were gains on mortgage servicing rights.
1st Mortgage Delinquency Up 3rd Consecutive Month
For each of the most-recent three months, the rate of serious delinquency on first mortgages moved up. Second mortgage performance also waned.
Finance of America Funds Over $18 Billion in 2016
More than $18 billion was originated in 2016 by Finance of America Holdings LLC. The mortgage servicing portfolio exceeded $4 billion as of year end.
Over 70 Mortgage Events Over 3-Month Period
More than 70 events related to real estate finance are taking place during the current 90-day period. Covered topics include reverse mortgages, leads and mortgage servicing rights.
4-Month High for Mortgage Loan Modifications
Servicers of residential loans granted borrowers more favorable terms on their mortgages than on their original contracts at a pace that was the strongest in four months.
Over 100 Layoffs at Banc of California
As the sale of Banc of California Inc.'s mortgage business approaches, the financial institution has disclosed plans to layoff more than a hundred employees.