The overall lack of new listings nationwide has pushed the total number of homes on the market down 5% year-over-year, reaching their lowest level of any early June on record, according to a new housing market update from Redfin.
Read More »Credit Conditions Tightened Slightly in March
According to a new report from First American, the Potential Home Sales Model for March revealed it is unlikely that the recent banking crisis will materially impact residential mortgage availability.
Read More »Plaza Home Mortgage Launches New Loan Program
Plaza Home Mortgage's High Balance Access loan program allows borrowers to qualify for high-cost area loan amounts.
Read More »Prime Jumbo RMBS Transactions Double in Size
The number of prime jumbo RMBS transactions has doubled year-over-year, according to a new report. Six new transactions were completed in Q1 2017, totaling $2.6 billion. Only 29 out of about 50,000 loans are currently delinquent.
Read More »United Wholesale Mortgage Launches Non-QM Program for Jumbo Loans
United Wholesale Mortgage (UWM), headquartered in Troy, Michigan, announced it has launched a new program called "Big & Easy Plus," designed for non-QM jumbo loans.
Read More »Commentary: What’s in Store for Housing in 2014, Part 2
Despite recent gains, which some of us believe are more of a mirage than an oasis, the economy still isn't creating enough good-paying full-time jobs to drive a full recovery in the housing market. At the same time, stricter lending requirements--and a lending environment likely to get more challenging before it gets easier--are the other major headwinds that could slow down housing.
Read More »Report: Servicers Decrease Loans in Shadow Inventory in Q3
As servicers rise out of the paralysis caused by regulatory issues, they are able to take necessary steps to clear out aging loans in shadow inventory, according to a report from Moody's Investors Service. In the report, Moody's revealed the number of loans in foreclosure shadow inventory, or loans in the process of foreclosure but with no resolution, decreased from Q2 to Q3, with the exception of jumbo loans from Citi and subprime loans from Bank of America.
Read More »Fitch: QM Rule to Benefit Jumbo Prime Market
Now that the industry has its long-awaited ""qualified mortgage"" (QM) definition, Fitch Ratings believes jumbo prime securities are poised to see a jump start. While many analysts anticipate a kick start in lending and securitization now that the rules are clear, Fitch asserts most of the underwriting guidelines suggested have already been put into practice since the financial crisis. However, the ratings agency sees the QM definition as a boon for the jumbo prime market.
Read More »Subprime Servicers Improve Cash Flow in Q2: Report
Overall, major subprime servicers improved their ability to limit losses on delinquent loans in the second quarter, according to the Servicer Dashboard report from Moody's Investors Service. Moody's uses a cash flow efficiency metric to measure how much cash a servicer collects relative to losses. The report revealed that the cash flow efficiency metric increased for subprime servicers, rising from 0.27 in Q1 to 0.29 in Q2, the highest level obtained over the past five quarters.
Read More »Radian Expands Mortgage Insurance, Jumbo Loan Programs
Radian Guaranty Inc. announced Monday that it is opening up new rates for high loan-to-value (LTV) loans and expanding its non-agency jumbo loan program.
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