The FHA gained share in the agency purchase-mortgage market last year, while private MIs continued to do more first-time buyer business. (Includes four data tables.)
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The new Payment Supplement program will allow servicers to temporarily reduce a borrower’s monthly payment by up to 25% without modifying the mortgage’s current interest rate.
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MSR buyers? The field is getting crowded and PE-backed investors continue to be aggressive. Even Guild Mortgage is open to the idea of buying, but only if the situation meets its parameters.
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The Federal Home Loan Bank of San Francisco becomes the first FHLBank to allow members to use mortgage loans based on VantageScore 4.0 as collateral for advances.
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As many as 88,000 individual tax identification number mortgages could be originated in a year if certain market barriers were removed, according to Urban Institute researchers.
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Flagstar’s warehouse business was left unscathed by the recent loss at its parent, NYCB. However, it doesn’t take much to make a nonbank feel queasy when the unexpected happens at one of its financiers.
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Facing criticisms that borrowers would intentionally default to qualify for VA’s upcoming loan-modification program, the agency noted that nearly 90% of its home loan portfolio is at a 2.5% to 3% coupon.
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