The average 30-year fixed-rate mortgage was down for the fifth straight week, according to Freddie Mac’s latest Primary Mortgage Market Survey . It was the lowest level of the entire year for the 30-year. But Freddie said that the one-year Treasury-indexed adjustable-rate mortgage averaged 4 basis points more this week than in the previous survey. [...]
Reuters – American Home Mortgage Servicing, one of the largest servicers of subprime mortgages, is urging the U.S. Treasury to organize a plan to boost principal reductions for up to one million homeowners by unlocking loans from securities. View full post on All Stories
Fixed mortgage rates fell this week to the lowest point of the year, offering incentive for homeowners to save money by refinancing their loans. View full post on All Stories
Nationstar Mortgage LLC plans an initial public offering. The details were disclosed in filings with the Securities and Exchange Commission. The filings were made as part of the 17-year-old company’s planned $400 million IPO and its planned exchange of $250 million in notes. View full post on Mortgage Stories
New York Attorney General Eric Schneiderman has opened an investigation into the packaging of mortgage loans into securities, in the latest sign of increased scrutiny of the mortgage industry. View full post on All Stories
Overall new mortgage inquiries rose 3 percent this week based on the latest U.S. Mortgage Market Index from Mortech Inc. and MortgageDaily.com . Lifting this week’s activity were refinances. The Refinance MMI climbed to 116 from 106 seven days prior. View full post on Mortgage Stories
Fixed mortgage rates have fallen to their lowest levels this year, giving Americans more incentive to buy homes or refinance their loans. View full post on All Stories
A coalition of religious leaders called N.C. United Power plan to demonstrate outside Bank of America Corp.’s annual meeting. At issue are 4,500 faulty mortgage documents found in one North Carolina county by the register of deeds. “If you have 4,500 documents in Guilford County, we believe there are hundreds of thousands around North Carolina [...]
A new trial will be sought by former employees against Quicken Loans Inc., Nichols Kaster PLLP said in March following a jury verdict in favor of Quicken. California’s Second District Court of Appeals affirmed a lower court’s decision to award a former employee substantially less than she was seeking from Fidelity Capital Mortgage Brokers. A [...]
Mortgage insurance policies written in February were the lowest on record based on an analysis of Mortgage Insurance Companies of America data back to 2000. But the trade group said its members reported a gain for March. Last month’s volume worked out to over 18,000 policies issued for more than $4 billion. View full post [...]
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