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Open Mortgage hires half of Live Well Financial's laid-off staff
News 3 months ago
Open Mortgage hires half of Live Well Financial's laid-off staff

Roughly 50 of the more than 100 staff members Live Well Financial let go after it stopped funding loans will join Open Mortgage, a multichannel...

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Low rates drive refi mortgage applications, but purchases still lag
News 3 months ago
Low rates drive refi mortgage applications, but purchases still lag

Refinance mortgage application activity surged as interest rates fell to their lowest level since the start of 2018, but potential homebuyers...

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Manhattan condo owners are cutting deals as their tax breaks end
News 3 months ago
Manhattan condo owners are cutting deals as their tax breaks end

Manhattan condo owners who've enjoyed property-tax reductions are heading for the exits of their posh buildings as their breaks are set to expire....

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'Devil is in the details' for lenders transitioning from Libor: MBA
News 3 months ago
'Devil is in the details' for lenders transitioning from Libor: MBA

Commercial and multifamily mortgage lenders need to figure out their plan for replacing the London interbank offered rate index potentially...

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Velocity's new investor mortgage seeks to stave off payment shock
News 3 months ago
Velocity's new investor mortgage seeks to stave off payment shock

Velocity Mortgage Capital's new mortgage-broker loan for income-producing residential and small-balance commercial properties aims to offer...

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Mortgage fraud risk on applications dips for first time since July
News 3 months ago
Mortgage fraud risk on applications dips for first time since July

Mortgage application fraud risk declined for the first time since last summer because the home sales market became less competitive with an easing...

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Expect more banks to exit national mortgage lending
News 3 months ago
Expect more banks to exit national mortgage lending

It's no secret the mortgage business has been tough lately, but bankers who have downsized in home lending say it's no fad - they (and others)...

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Mortgage investors' refinance concerns rise with rate rally
News 3 months ago
Mortgage investors' refinance concerns rise with rate rally

Mortgage prepayment speeds may rise with the strong U. S. rate rally, and that may be cause for alarm for mortgage investors. Aggregate prepayment...

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Overleverage to reduce CMBS loan payoffs in 2019: Morningstar
News 3 months ago
Overleverage to reduce CMBS loan payoffs in 2019: Morningstar

The large number of overleveraged commercial mortgage-backed securities loans coming due in 2019 is likely to cause the payoff rate to drop an...

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Economic uncertainty dragging down mortgage application volume: MBA
News 3 months ago
Economic uncertainty dragging down mortgage application volume: MBA

Consumer worries over the direction of the U. S. economy affected mortgage application activity this past week even as interest rates remained flat...

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Activist investor backs hostile offer for HomeStreet multifamily unit
News 4 months ago
Activist investor backs hostile offer for HomeStreet multifamily unit

Activist investor Blue Lion, which has been waging a campaign for changes at HomeStreet Bank, is pressing the Seattle-based company to consider...

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Freedom's mortgage servicing portfolio grows 44% in RoundPoint deal
News 4 months ago
Freedom's mortgage servicing portfolio grows 44% in RoundPoint deal

Freedom Mortgage's acquisition of RoundPoint Mortgage Servicing gives it a major subservicer and will increase the Mount Laurel N. J.-based company...

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High end of purchase market benefiting most from lower mortgage rates
News 4 months ago
High end of purchase market benefiting most from lower mortgage rates

The decline in average mortgage rates since the start of the year is driving higher purchase demand, especially at the higher end of the market,...

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Mortgage insurers can help banks reduce CECL burden: Genworth
News 4 months ago
Mortgage insurers can help banks reduce CECL burden: Genworth

Private mortgage insurers can help to ease banks' compliance burden when it comes to the Current Expected Credit Loss accounting standard, an...

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Lowest mortgage rates in over a year drives rise in refi applications
News 4 months ago
Lowest mortgage rates in over a year drives rise in refi applications

With mortgage rates falling to their lowest level in over a year, refinance volume drove this week's increase in application activity, according to...

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California's big housing bill is dead for the year
News 4 months ago
California's big housing bill is dead for the year

Even as he blocked a major legislative push to spur more apartment construction around public transit and in wealthy suburbs, state Sen. Anthony...

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KSL taps CMBS to finance Margaritaville resort mortgage
News 4 months ago
KSL taps CMBS to finance Margaritaville resort mortgage

KSL Capital Partners is sponsoring a $161.5 million commercial mortgage-backed securitization for the Margaritaville Hollywood Beach Resort, a...

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New Orleans-area home prices rise in early 2019
News 4 months ago
New Orleans-area home prices rise in early 2019

Home prices in metro New Orleans were up at the start of 2019, according to the latest data from the National Association of Realtors. The median...

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When will non-QM loans and HELOCs take off?
News 4 months ago
When will non-QM loans and HELOCs take off?

As the Mortgage Bankers Association convenes its annual secondary market conference in New York, one of the big questions on the minds of many...

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SunTrust, BB&T could become CRE lending powerhouse in the Southeast
News 4 months ago
SunTrust, BB&T could become CRE lending powerhouse in the Southeast

BB&T's acquisition of SunTrust may make the combined company more of a contender in regional metro-area commercial mortgage lending, according to...

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Almost $3B in Washington state HFA mortgage servicing rights for sale
News 4 months ago
Almost $3B in Washington state HFA mortgage servicing rights for sale

An institution that services housing finance authority loans is putting $2.65 billion in servicing rights from Washington state up for bid through...

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Mortgage originations plunge, but subprime activity sees minimal decline
News 4 months ago
Mortgage originations plunge, but subprime activity sees minimal decline

Mortgage activity plunged before the start of the year, but subprime originations dropped the least, according to TransUnion. Despite dwindling...

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Housing starts climb more than estimated as permits rise
News 4 months ago
Housing starts climb more than estimated as permits rise

New-home construction rose for a second month and topped estimates in April in a sign of positive momentum for the housing sector at the start of...

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Worries over trade could affect mortgage application activity: MBA
News 4 months ago
Worries over trade could affect mortgage application activity: MBA

The trade dispute with China is likely to affect consumers' willingness to buy a home and apply for a new mortgage loan, according to the Mortgage...

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February's foreclosure inventory fell to lowest rate since 1999
News 4 months ago
February's foreclosure inventory fell to lowest rate since 1999

Strong levels of employment and continued economic expansion drove February's mortgage delinquencies and foreclosures to 20-year lows, according to...

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First-quarter mortgage revenue dip flags a 2019 challenge for Equifax
News 4 months ago
First-quarter mortgage revenue dip flags a 2019 challenge for Equifax

First-quarter operating revenue in Equifax's Mortgage Solutions unit was the lowest it's been for the fiscal period since 2016, and the company...

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Multifamily lenders balk at N.Y.’s proposed tenant-friendly reforms
News 4 months ago
Multifamily lenders balk at N.Y.’s proposed tenant-friendly reforms

Housing advocates and Democratic lawmakers in New York want to create more protections for tenants of rent-controlled apartments, but they are...

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Drop in mortgage rates hurts Impac, but may pay off later
News 4 months ago
Drop in mortgage rates hurts Impac, but may pay off later

Lower rates hurt the value of Impac Mortgage Holdings' servicing rights and overall earnings in the first quarter, but they could help improve the...

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Syracuse mall's debt struggle underscores changing retail landscape
News 4 months ago
Syracuse mall's debt struggle underscores changing retail landscape

A downgrade to near-junk status for bonds backed by payments-in-lieu of taxes issued for a Syracuse, New York, shopping mall project underscores...

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Credit standards loosen as mortgage lenders embrace non-QM, jumbo loans
News 4 months ago
Credit standards loosen as mortgage lenders embrace non-QM, jumbo loans

Mortgage lending credit standards loosened a bit last month as investors displayed more interest in non-qualified mortgage and nonagency jumbo...

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