Purchase-mortgage originations saw a healthy gain in the second quarter, but not enough to offset plunging refinance activity. Production was up in jumbo and ECM lending. (Includes two data charts.)
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Agency seller/servicers have a new set of net worth requirements to adhere to. The good news: The final language is close to what was originally proposed.
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When it comes to default management hires, subservicer Cenlar has been a busy bee, adding a handful of new VPs. Is it expecting an increase in delinquencies or is something else afoot?
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The total delinquency rate stood at 3.44% as of the end of June, among the lowest levels seen since the launch of Inside Mortgage Finance’s Large Servicer Delinquency Index in 2003. (Includes data chart.)
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It appears that Michael Strauss, CEO of now-shuttered Sprout Mortgage, is looking to sell his Manhattan penthouse on Park Avenue for $26.5 million.
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