HSBC Finalizes Large Subprime RMBS Settlement
A large settlement being negotiated between the government and HSBC Holdings plc over the British bank's role in the issuance of residential mortgage-backed securities has been finalized.
Bank HEL Delinquency Soars
Quarterly performance on bank-owned home-equity loans substantially deteriorated. Delinquency was down, though, for mobile home and property improvement loans.
Fewer Foreclosures Started, Completed at Banks
The rate of delinquent payments on bank-serviced mortgages has improved over the past year, though there was no quarter-over-quarter change. Fewer foreclosures were started and completed.
1st Mortgages Outstanding Nearing All-Time High
The balance of first-lien home loans outstanding is nearing the all-time high established at the start of the crisis. The trend is down, however, for home-equity products.
Banks Maintain Mortgage Credit Standards
For most single-family lending programs, credit standards at banks were little changed during the second quarter. While demand for residential loans was up at a good share of banks, it was also down at a good share.
Wells Fargo Reaches $2 Bil Subprime RMBS Settlement
More than two years after revealing a government investigation into how it handled sales of subprime residential mortgage-backed securities, Wells Fargo & Co. has agreed to a more than $2 billion settlement.
Fmr Trump Lawyer Got $3.5 Mil Mortgage Before Raid
Just days before his home and office were raided by the FBI, President Donald Trump's former personal lawyer took out a $3.5 million non-traditional mortgage.
Dodd-Frank Rollback Raises Risk for Non-Banks
Recently enacted legislation to roll back some of the provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act is likely to have a negative impact on non-bank home lending.
Max Non-QM Loan Amount Raised to $5 Million
A nonprime correspondent investor has raised the maximum loan amount to $5 million for some of its programs that allow the origination of loans that don't meet Qualified Mortgage requirements.
Bank-Owned HEL Delinquency Up, HELOC Rate Down
As the past-due rate on consumer credit held by banks deteriorated, so did the rate on home-equity loans. But performance on home-secured credit lines fell.