New residential loan applications fell 12.3 percent for the week ending Dec. 14 with the reading on its refinancing index dropping to the lowest level in just over a month, according to new survey figures compiled by the Mortgage Bankers Association. The refi share of all new business fell to 83 percent from 84 percent the week prior. MBA vice president of research Mike Fratantoni blamed the decline on rates which rose during the second…
PHH Mortgage and an affiliate have renewed a $450 million warehouse line with Wells Fargo Bank, N.A. for another year but reduced another facility it had with Barclays Bank PLC, according to a recent filing with the Securities and Exchange Commission.
Bexil American Mortgage has finally obtained its Ginnie Mae servicer approval and this week inked a deal to purchase a small nonbank lender whose identity it, so far, has not been revealed.
ES Appraisal Services, Jacksonville, FL, has closed its doors, the second national appraisal management company to have gone bust in the past year. It also uses the trade name eValuation Solutions LLC.
Happy New Year? It is if you’re a mortgage attorney charging billable hours to lenders that are trying to make sense of an array of pending rules coming out of the Consumer Financial Protection Bureau and other agencies.
The White House has placed former federal housing commissioner Nic Retsinas on its list of possible candidates to head the Federal Housing Finance Agency, industry officials familiar with the matter told Inside Mortgage Finance.
Add former GSE regulator James Lockhart to the growing chorus of industry officials who believe that using Fannie Mae and Freddie Mac to refinance underwater non-agency mortgages is a bad idea.