Publicly traded nonbank mortgage lenders posted sharply lower profits in the second quarter as strong competition cut into margins. Two firms managed to increase mortgage-related income: homebuilders. (Includes data chart.)
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The overall delinquency rate in agency MBS inched up to 1.97% at the end of June. All of the increase in late payments was seen in the Ginnie Mae program. (Includes data chart.)
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It’s been a bit quiet on the mortgage company M&A front the past few months, but a few deals are getting done, including Two Harbors agreeing to buy RoundPoint Mortgage.
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A bill brought by Democrats that would allow consumers to require the consideration of alternative data such as rent and utility payments in underwriting their mortgage recently cleared the House Financial Services Committee.
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Alternate finance options make homeownership possible for first-time buyers unable to access traditional home loans, but more protections are needed to foster sustainable homeownership, according to industry experts.
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Low-balance borrowers seeking to refinance pay proportionally higher closing costs and receive a smaller reduction in interest rates, according to findings published by the Federal Reserve.
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loanDepot cites faults in wholesale channel; rate locks decline in July; foreclosure activity also down; MISMO seeking comments on various initiatives.
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The creation of a U.S. sovereign wealth fund could grease the skids for an end to the conservatorships of Fannie Mae and Freddie Mac.
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