With the planned acquisition of assets from bankrupt Residential Capital LLC, Nationstar Mortgage Holdings Inc. expects to become one of the industry’s biggest non-bank mortgage firms. ResCap and 27 affiliates disclosed Monday that voluntary petitions for relief under Chapter 11 of the U.S. Bankruptcy Code were filed Monday. Lewisville, Texas-based Nationstar announced separately that it [...]
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Quantum Leap for Nationstar
May 14th, 2012 
davidguide 
Posted in Business Loans 
Tags: agreement, capital, Code, Inc., Lewisville, nationstar mortgage, quantum leap, rescap, Residential, stalking horse bidder, voluntary petitions 
Comments OffJudicial States Bloat U.S. Shadow Inventory
May 10th, 2012 davidguide While the nation’s pool of distressed loans remains historically high, there have been some positive signs with the shadow inventory. Hurting the numbers are states that require judicial foreclosures, where it takes two-and-a-half times as long to clear out non-performing mortgages as it does in non-judicial states. The problem is much worse in the Big [...]
Posted in Business Loans Tags: Apple, Bloat, decade', distressed loans, half times, Hurting, Judicial, judicial foreclosures, positive signs, post, Shadow Comments OffLoan Inquiries Inch Up as Low Rates Could Dip More
May 6th, 2012 davidguide BA few more people were out shopping for a home loan this past week, with home purchase financing inquiries putting in the strongest week-over-week performance. Already-low rates are poised to fall a little further. A 2 percent rise from last week left the U.S. Mortgage Market Index from Mortech Inc. and Mortgage Daily for the [...]
Posted in Business Loans Tags: loan inquiries, market index, Mortech, mortgage market, purchase volume Comments OffCorrespondent Retreat Hurts PHH Production
May 2nd, 2012 davidguide A quarterly decline in mortgage originations at PHH Corp. was primarily the result of an earlier decision to reduce its reliance on the correspondent lending channel. The company’s pipeline of locked applications ready to close point to an even slower second quarter. But with widening profit margins and a “robust” retail pipeline, PHH’s chief was [...]
Posted in Business Loans Tags: correspondent lending, decision, Decline, lending, mortgage originations, phh corp, Profit, profit margins, quarterly decline, result, Retreat Comments OffOffice Loans Drive Up CMBS Defaults
April 28th, 2012 davidguide With commercial real estate loans on office properties leading the way, quarterly defaults on securitized commercial mortgages increased during the first-three months of 2012. But the good news is that performance for all of this year is expected to be in line with 2011. Cumulative defaults on commercial mortgage-backed securities were 12.96 percent during the [...]
Posted in Business Loans Tags: CMBS, commercial mortgage backed securities, commercial mortgages, Cumulative, Drive, first three months, mortgage backed securities, news, percent, post, real estate loans Comments OffRealtors Oppose REO-to-Rental Program
April 24th, 2012 davidguide The Federal Housing Finance Agency recently began qualifying investors to purchase pools of real-estate-owned assets in some of the nation’s worst housing markets from Fannie Mae and Freddie and convert them to rental properties. But the strategy is opposed by some local California Realtors who stand to lose commissions on such bulk sales. The FHFA, [...]
Posted in Business Loans Tags: california realtors, department of housing and urban development, department of the treasury, Fannie, Federal, finance, Housing, housing and urban development, housing finance agency, REOs, strategy Comments OffGSE Multifamily Business Growing
April 20th, 2012 davidguide The volume of new financing for apartment properties has grown at both the Federal National Mortgage Association and the Federal Home Loan Mortgage Corp. First-quarter multifamily issuance at Fannie Mae was $7.1 billion. The secondary lender’s volume was 44 percent more than securitizations during the first-quarter 201 View full post on Mortgage Stories
Posted in Business Loans Tags: apartment, Association, Business, Fannie, Federal, federal national mortgage, federal national mortgage association, home, home loan mortgage, home loan mortgage corp, national mortgage association Comments OffCiti Originations Sink
April 16th, 2012 davidguide Citigroup Inc., which disclosed plans to stop taking business from mortgage brokers, saw quarterly loan fundings tumble by nearly a third. But delinquency improved from the final quarter of last year. North American mortgage originations decreased 32 percent between the fourth-quarter 2011 and the first-quarter 2012, the New York-based financial services provider reported in its [...]
Posted in Business Loans Tags: citigroup inc, earnings data, financial services provider, Mortgage, mortgage originations, north american mortgage, Originations, percent, post, Sink, tumble Comments OffSIGTARP Report Finds Hardest Hit Funds Barely Utilized
April 12th, 2012 davidguide The Housing Finance Agency Innovation Fund for the Hardest Hit Housing Markets was established in February 2010 through the Dodd-Frank Wall Street Reform and Consumer Protection Act . The program was to be funded with $7.6 billion intended to reduce mortgage principal on negative-equity properties, provide assistance for unemployed or under-employed borrowers and help eliminate [...]
Posted in Business Loans Tags: consumer protection act, equity properties, housing finance agency, innovation fund, mortgage principal Comments OffClass Action Filed Over M.I. Kickbacks
April 8th, 2012 davidguide A bank and six mortgage insurance companies have been named as defendants in a lawsuit that alleges illegal kickbacks. Plaintiffs seek class-action certification. Attorneys in the case are some of the same attorneys who successfully litigated similar cases before the Third U.S. Circuit Court of Appeals in 2009. At issue are $54 million in re-insurance [...]
Posted in Business Loans Tags: Circuit, estate settlement, Filed, illegal kickbacks, insurance, insurance premiums, issue, mortgage insurance companies, settlement, settlement procedures, sham Comments Off
