A recent shift in the purchase-mortgage market share toward the government-sponsored enterprises appears to be part of seasonal home buying patterns rather than direct competition for mortgages with low downpayments.
The Mortgage Bankers Association's non-seasonally-adjusted application index increased by 3.0 percent compared with the previous week, with the increase driven by refinances.
If the Federal Housing Finance Agency implements a principal reduction program that applies to all delinquent mortgages serviced by the government-sponsored enterprises that have negative equity, the Housing Finance Policy Center estimated that 14,563 principal-reduction mods would be completed.
PennyMac Mortgage Investment Trust may repurchase up to $150 million of its outstanding common shares as the real estate investment trust's stock price has declined this year.
The Nonprofit Alliance of Consumer Advocates focuses on helping borrowers that have mortgages owned by a servicer subject to the $25 billion national servicing settlement.