A new record low was established for the one-year adjustable-rate mortgage this week. While the news wasn’t so good for fixed mortgage rates, fixed rates are positioned to fall in next week’s report. The discount for a 15-year loan has increased over the past seven days. View full post on Mortgage Stories
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1-Year ARM Falls to Record Low
August 10th, 2012 
davidguide 
Posted in Business Loans 
Tags: adjustable rate mortgage, ARM, falls, fixed mortgage rates, Loan, Low, news, post, seven days, year adjustable rate mortgage 
Comments OffBankers Develop Website to Unload Foreclosed Properties
July 13th, 2012 davidguide Lenders in North Carolina were inspired by an iconic seventies rock band in developing an online platform to unload foreclosed properties. The North Carolina Bankers Association has created a new website that helps mortgage servicers sell their real-estate-owned assets. Listings on the site include residential and commercial properties as well as vacant land. The online [...]
Posted in Business Loans Tags: additions, assets, expansion, Lenders, platform, post, seventies rock band, site, Unload, vacant land, Website Comments OffBorrowers Suing Servicers Over Forced-Placed Insurance
July 9th, 2012 davidguide Mortgage servicers are issuing more forced-placed insurance on loans secured by Florida properties than any other state. But some borrowers in the state claim that the coverage and premiums are ridiculously high and are taking their grievances to court. Sworn testimony before the United States Judicial Panel on Multidistrict Litigation indicated that forced-placed insurance premiums [...]
Posted in Business Loans Tags: florida mortgages, insurance premiums, Judicial, judicial panel on multidistrict litigation, mortgage servicers, Multidistrict, Placed, post, State, sworn testimony, testimony Comments Off3rd Consecutive COFI Record
July 1st, 2012 davidguide Borrowers whose adjustable-rate mortgages are tied to the 11th District Cost of Funds Index again were treated to new record-low index. It was the third month in a row that the index has established a new low. COFI was 2 basis points lower in May than it was during April. Data back to July 1981 [...]
Posted in Business Loans Tags: 11th district cost of funds, 11th district cost of funds index, adjustable rate mortgages, basis, basis points, Borrowers, COFI, Consecutive, Funds, Index, post 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 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 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 OffBofA Tests Deed-in-Lieu Rentals
March 23rd, 2012 davidguide A new program being tested by Bank of America Home Loans on a limited number of delinquent mortgages would enable borrowers to hand over the titles to their properties but stay on as renters. The program could be expanded if it proves successful. The pilot program was launched this week in targeted hard-hit housing markets. [...]
Posted in Business Loans Tags: bank of america, bank of america home loans, BofA, Deed-in, delinquent mortgages, home, Housing, perception, post, public perception, Rentals Comments OffCA Foreclosures Fall Despite National Increase
February 16th, 2012 davidguide U.S. foreclosure filings increased last month, though year-over-year performance has been on the mend each month for more than a year now. New filings fell, however, in California — the state with the most activity. Meanwhile, U.S. mortgage servicers completed fewer foreclosures than in December. There were 3 percent more U.S. properties owned by delinquent [...]
Posted in Business Loans Tags: delinquent borrowers, fall, Foreclosure, Foreclosures, Mortgage, National, percent, post, repossessions, State Comments OffPennyMac Becomes Billion Dollar Player
February 8th, 2012 davidguide Quarterly correspondent fundings and the mortgage investment portfolio at PennyMac Mortgage Investment Trust have each reached nearly a billion dollars. Fourth-quarter correspondent production more than quadrupled PennyMac’s third-quarter activity. The mortgage investment portfolio was valued at nearly $1 billion as of the end of last year. The total included distressed residential mortgage whole loans, real-estate-owned [...]
Posted in Business Loans Tags: Becomes, fundings, investment portfolio, Mortgage, mortgage backed securities, mortgage investment, Player, Portfolio, post, quarter activity, Total Comments Off
