Friday, 18 May 2012 12:55 No Comments
The good news is that fixed mortgage rates fell to the lowest levels on record and are already on their way to setting another new low — with a sub-3 percent rate in site for the 15-year mortgage. The bad news is that the stock market is on its way to the lowest point this [...]
Business Loans
Monday, 14 May 2012 10:56 No Comments
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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Thursday, 10 May 2012 16:04 No Comments
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 [...]
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Sunday, 6 May 2012 14:04 No Comments
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 [...]
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Wednesday, 2 May 2012 11:55 No Comments
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 [...]
Business Loans
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