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Ocwen Acquisition of PHH On Verge of Close
Ocwen Financial Corp. is on the verge of closing on its acquisition of ailing PHH Mortgage Corp. Regulatory approval of the transaction specifies...
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...
7-Year High for Mortgage Rates
Interest rates on home loans continued to ascend on both a weekly and monthly basis, climbing to a seven-year high. Two out of three indices used...
Originations Soar, Staff Expands at Fairway
Quarterly loan originations soared at Fairway Independent Mortgage Corp., while the payroll grew. Although the servicing portfolio retreated, it...
Chase Philadelphia Expansion Includes Mortgages
A major expansion planned by JPMorgan Chase & Co. in the Delaware Valley over the next few years includes plans for its mortgage business.Chase...
Mortgage Lates Down After Dropping to 12-Yr Low
After falling to the lowest level in a dozen years, 30-day delinquency moved down by another 9 basis points. Also improving was the foreclosure...
Stream of Mortgage Layoffs Continues
In addition to some of the high-profile rounds of mortgage layoffs previously reported, a stream of less prominent staff reductions are beginning...
Free Credit Freeze From All 3 Bureaus
Following last year's disclosure by Equifax that information was stolen on an estimated 143 million U.S. consumers, a provision for free credit...
Mortgage Staffing, Servicing Grow at Alaska USA
Mortgage employees on Alaska USA Federal Credit Union's payroll increased from the prior quarter and a year prior, as did residential loan...
Best Mortgage Jobs
Among the hundred best jobs in the nation are several that are found at home lenders-- including positions in compliance and technlogy. Also making...
2018 Mortgage Origination Outlook Cut Due to Refis
An improved outlook for home purchase financing this year was was wiped out by a big drop in expected refinancings. But next year's forecast was...
Refi Declines Wipe Out Purchase Gains
Even though purchase-money production is expected to increase by nearly $50 billion between this year and next year, refinances are expected to...
Mortgage Rates Increase, Further Escalation Ahead
On a month-over-month basis, mortgage rates were slightly worse. But the deterioration deepened on a week-over-week basis. Further increases are...
FHA Delinquency Tumbles, Endorsements Edge Up
There was a monthly up tick reported in new business at the Federal Housing Administration, though a dip will likely follow. Single-family...
Wells Fargo Plans to Cut Thousands of Jobs
Wells Fargo & Co. warned that as many as 26,500 layoffs are ahead as it improves its operations, pays more attention to its customers and gets past...
Mortgage Applications Rise 1st Time in 4 Weeks
Mortgage applications improved for the first time in four weeks. As rates ascended to the highest level in seven years, more prospective borrowers...
Lender Blames CT Bank Regulator for Layoffs
Overzealous licensing requirements in Connecticut are being blamed for the termination of a home lender's planned headquarters expansion and dozens...
Builders Say New Tariffs Are Devastating
Optimism within the home-building industry remained at its lowest level in 12 months, and pessimism is setting in as a result of a new round of...
Slight Escalation in Serious Mortgage Delinquency
Serious delinquency on first-lien residential loans turned modestly higher last month. Among large metropolitan areas, Chicago had the worst...
Mortgage Market Index Up, Record ARM Share
New mortgage business really picked up from the holiday week. The strongest showing was with adjustable-rate mortgages-- with ARM share coming in...
AZ Branch Mgr Gets Vet Approved After 2 Denials
An active-duty soldier who was being transferred from Kentucky to Florida and was twice denied for a loan guaranteed by the Department of Veterans...
Mortgage Apps Down as Refis Plunge to 17-Year Low
Applications for purchase-money mortgages accelerated during the holiday week. But a plunge in refinance applications to the lowest level in more...
Jumbo Drives Down Mortgage Credit Availability
Credit conditions in the home financing market were tighter last month. Behind the contraction was a drop in the number of available jumbo mortgage...
Mortgage Biz Off 4 Wks in Row Despite Purchase Bump
New mortgage business retreated for the fourth consecutive week, with the holiday dragging down the latest seven-day period. Even more significant...
Dip in Refi Mortgage Apps Offsets Purchase Bump
Heading into the holiday weekend, mortgage application volume held steady. Purchase-money activity was up, and refinances were lower-- though...
CoreLogic Expects a Monthly Drop in Home Prices
While the country's home values continued to escalate, CoreLogic Inc. expects that when last month's final numbers are tallied, values will be...
Cashouts Drive Up Weekly Refis, Purchases Sink
A sharp increase in weekly cashout share drove overall refinances significantly higher. But the volume of new purchase-money business turned...
Mortgage Rates Little Changed, More of Same Ahead
Over the past week, there was little change in interest rates on home loans. During the next week, more of the same is likely. Recently rising...
St. Louis Mortgage Firm Goes Bust
A residential lender out of St. Louis that was at the center of a bitter divorce has ended operations and could be forced out of receivership...
Short Supply Pushes Home Buyers To Tipping Point
An ongoing inadequate supply of residential properties for sale has pushed prospective homebuyers to a tipping point and driven down year-over-year...