Lets Rate a Deal
Recent RMBS ratings actions.
Brokers, Lenders at Odds Over RESPA Reforms
Mortgage brokers are strongly urging HUD to revise the characterization of YSPs, the bread and butter of brokers' revenue, in HUD's proposed rule reforming RESPA that they say would unfairly harm their business.
The Biggest Refi Wave In History or Is History?
The number of prospective borrowers that completed form 1003 -- the Uniform Residential Loan Application -- fell last week, and rates were mostly unchanged but may rise later this year.
$69.2 Billion March Business Purchases at Freddie
Loan activity at Freddie Mac reversed its two-month downward trend to close up 43 percent for March, the company said.
Fraud Scheme Operated From Prison
A federal grand jury indicted eight people April 16 in alleged multimillion-dollar mortgage fraud schemes, including one accused of recruiting phony home buyers from a U.S. prison in Florida.
Cendant Production Eases
Cendant Corporation reported a slight drop in loan production and an upturn in servicing figures in its first quarter earnings statement for 2003.
1st Quarter National City Production Falls
National City Corporation reported a 17 percent drop in loan originations for the first quarter of 2003 compared to the previous quarter.
Former DallasNews.com Editor Joins MortgageDaily.com
MortgageDaily.com has a new editor.
Proposed GFE Revisions Negative for Brokers
The National Association of Mortgage Brokers and HUD have held recent discussions over resolving yield spread premium concerns raised by the proposed HUD rule on reforming RESPA, issued back in July 2002.
Just Passing Through
Recent RMBS ratings actions.
Ohio Brokers Lose Licenses
Two mortgage brokerage companies are no longer allowed to do business in the state of Ohio.
Rates appear to be heading nowhere as refinance burnout is setting in.
ABN AMRO Production Off Slightly
Loan originations at the country's fifth largest lender edged down in March.
$105.7 Billion 1st Quarter Volume at Washington Mutual
Washington Mutual reported that real estate-secured loan volume edged down slightly during the first quarter.
BoA Production Edges Up as Servicing Slides
Loan production at Bank of America increased even as the size of its servicing portfolio continued a nearly two-year slide.
Chase Ekes Out Production Gain
Loan originations edged up slightly at Chase Home Finance.
$103 Billion 1st Quarter Production at Wells
The nation's biggest originator of mortgage loans reported a drop in its first quarter production.
Former Mortgage Businessman Arrested for Murder
His love for singing was his ultimate demise.
Fannie's Book of Business Nearing $2 Trillion
Loan activity edged up last month at Fannie Mae.
Rates, Apps Worsen
As mortgage rates climbed, loan applications took a slight breather.
USDA Raises Rural Housing Limits by 22%
Hoping to increase home ownership opportunities the federal government has increased the mortgage limits for a program geared to mainly to low-income buyers.
Flagstar Production Falls
A Michigan based lender announced that production during the first quarter was down from the prior.
$38 Billion March Production at Countrywide
First quarter loan production at one of the country's largest mortgage lenders reached a record level.
RFC Case May Change Brokers' Approach to Volume Based Incentives
Industry Commentary by Time Meredith.
Defendant Overdoses After Mortgage Fraud Conviction
After being convicted of mortgage fraud, a New York homebuilder had a drug overdose in his jail cell.
Things Still Looking Good in Mortgageland
Driven by record U.S. mortgage production, employment in the mortgage industry continues to grow.
Rates, Refi's Fall
The direction of mortgage rates turned favorable even as the lagging application index fell.
Industry commentary by Dave Hershman about sales presentations to Realtors
The leading provider of student loans is getting deeper into the mortgage business.
House of Cards
A classic flipping scheme in New Jersey utilizing inflated appraisals and straw buyers has more than a dozen defendants facing prison time.
The interest expense for savings institutions in the West fell again, leaving little room for further drops.