For Sale: MSRs on Over $3.5 Bil in Ginnie Loans
The servicing on more than $3.5 billion in Government National Mortgage Association loans are being auctioned off to the highest bidder. There is a modest concentration in the Lone Star State.
Fannie Mae Eases M.I. Termination Requirements
The Federal National Mortgage Association is making it easier for borrower to cancel mortgage insurance through valuation alternatives and looser loan-to-value ratios.
Solid Business Growth at MGIC as Earnings Improve
The book of business, insurance written and earnings all increased from the prior quarter and a year prior at MGIC Investment Corp. Meanwhile, delinquency decreased..
Originations Up at US Bank, Further Gain Likely
Quarterly home-lending volume moved up at U.S. Bancorp and appears to be headed even higher. As corporate income rose, mortgage earnings were lower. The mortgage servicing portfolio contracted.
MSRs For Sale On Over $2 Bil in Agency Loans
Loan servicing rights on more than $2 billion in agency home loans are being marketed for sale. The loans are geographically distributed, and nearly two-thirds of loans were third-party originations.
Mortgage Origination Surge at First Republic
Quarterly mortgage originations moved sharply higher at First Republic Bank. Also expanding were company-wide earnings, the servicing portfolio and single-family holdings.
Nationstar Mortgage Reports Solid Originations
Home lending increased on a quarter-over-quarter and year-over-year basis at Nationstar Mortgage Holdings Inc. Servicing slipped, earnings swung to a profit, and delinquency declined..
1st Mortgage 90-Day Rate Down 3 Mths in Row
Last month's rate of serious mortgage delinquency moved lower and has shown improvement now for three consecutive months. Miami's drop was biggest.
Citi's Home Lending Up, Mortgage Earnings Down
As company-wide earnings improved at Citigroup Inc., mortgage income fell. Headcount, servicing and single-family assets were all lower, and delinquency was higher. But residential loan originations rose.
Mortgage Originations Up at Chase, Servicing Down
Although quarterly mortgage earnings deteriorated from a year ago at JPMorgan Chase & Co., company-wide income rose. Mortgage originations fell, as did servicing and headcount.