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Ginnie Mae finalizes reverse-mortgage buyout relief terms
Nov 25, 2024 · The industry has united behind HMBS buyout relief because, due to interest rate conditions and the composition of the market in recent years, the volume of loans hitting their maximum claim amount has been high.. That's made managing buyouts costly for issuers, in some cases forcing lenders to hold them on financing lines for prolonged periods of time.
National Mortgage News - November-December 2024
More "Airbnb-style" rental property loans are making their way into non-qualified mortgage securitizations and could they be acting differently from the traditional non-owner occupied loans, a Standard & Poor's report asks.
Fannie Mae's 2025 forecast turns bearish | National Mortgage News
Nov 21, 2024 · That is a significant revision in comparison to October's call for rates to be at 6% in the final three months of the year. The 30-year fixed rate average will moderate over the next four quarters, but only drop to 6.3% by year-end 2025, and to 6.1% by the final quarter of 2026.
Mortgage application activity picks up for second week in a row
Nov 20, 2024 · The seasonally adjusted Purchase Index saw a 2% seasonally adjusted rise. The Refinance Index also increased similarly by 1.8%. "The pickup in purchase applications was driven by conventional and FHA loans," Kan noted.
Mortgage delinquencies rise but foreclosures lag - National …
Oct 23, 2024 · The total delinquency rate, defined as loans 30 days or more late on payment but not yet in foreclosure, was 3.48% in September. That was an increase of 4.3% compared to August's 334 basis point rate and up by 5.74% compared with September 2023's rate of 329 basis points.. This data follows the Mortgage Bankers Association's recent report that performance on loans that had been in forbearance ...
Fed rate cut, industry lawsuits: Top mortgage news September 2024
Oct 9, 2024 · Mortgage rates continued to tumble closer to the 6% mark, even before taking into account the full impact of the 50 basis point cut in short-term rates by the Federal Open Market Committee. But the Fed's actions shouldn't start an origination uptick for the mortgage industry, according to one long-time veteran.
Top 20 banks by retail mortgage volume in Q3
Dec 9, 2024 · The top five lenders in our ranking had an average retail mortgage origination volume of nearly $7 billion at the end of the third quarter. Most lenders saw an increase in business between the second and third quarters, and PNC Bank achieved a …
Mortgage default levels are providing a warning sign
Nov 22, 2024 · October's total delinquency rate — loans 30 days or more late but not yet in foreclosure — was 3.45%, the First Look report found. While that was down by 0.79% from September, the year-over-year change of 5.95% represents five …
HELOCs with expanded criteria are trending among lenders
Nov 25, 2024 · Direct-to-consumer lender Achieve announced earlier in November that it increased the limit for its program to $300,000 from $150,000 while adding 20- and 30-year term loans to its lineup.