Camila Silva is highly organized and detail-oriented, especially when it comes to paying her bills on time — including the mortgage on her townhouse in the quiet outskirts of Washington D.C. Car, utility and mortgage payments are all color-coded in the calendar on Silva’s phone. Since the origination of her home loan in 2021, Silva […]
Loan onboarding challenges reveal servicing pain points Read More »
Newrez posted a fourth straight quarterly profit, as parent company Rithm Capital pointed to a new servicing deal with Wells Fargo and falling interest rates as drivers of recent momentum. Technology, particularly investments in artificial intelligence, also paid dividends that drove profits for Newrez, said the lender’s President Baron Silverstein. “Even with increased production, our
Newrez posts fourth straight quarterly profit Read More »
Freddie Mac, like larger counterpart Fannie Mae, reported another profitable quarter that could fuel more interest in a potential new public offering for some of their shares. The government-sponsored enterprise earned $2.8 billion in net income during the quarter, compared to $2.39 billion the previous fiscal period and $3.11 billion a year earlier. The pattern in
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In September, mortgage delinquencies rose compared to the month before and September 2024, new industry data shows. The most notable jump came in late-stage delinquencies, 90-119 days past due, which hit the highest level since January 2020 and saw the largest year-over-year increase among all credit products from 0.16% to 0.18%, according to the latest
Delinquencies rise, signaling borrower pressure Read More »
A coalition of lenders, servicers and lienholders are challenging a new state law on zombie seconds, arguing it will increase the cost of financing and limit homeowners’ access to equity. The California Mortgage Association and 11 other plaintiffs sued California Attorney General Rob Bonta in September, asking a federal judge to halt enforcement of the
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Two, a mortgage real-estate investment trust, reported a third-quarter loss as it absorbed previously announced settlement costs while also releasing news of some volume gains in subservicing and originations. RoundPoint’s corporate parent reported a net loss to common shareholders of almost $141.25 million or nearly $80.21 million on a comprehensive basis. Common shares’ second quarter
Two takes a loss on settlement, emerges with ‘clean slate’ Read More »
Fannie Mae Senior Vice President Jake Williamson will fill in as the single-family division’s chief and Tom Klein will temporarily take on general counsel responsibilities as those who previously held the positions depart. Executive Vice President Malloy Evans’ departure from the single-family post and Danielle McCoy’s exit as general counsel follow other changes at the
Fannie Mae names Jake Williamson acting single-family head Read More »
The mortgage market could be on the cusp of a bigger turnaround. The industry, already enjoying declining interest rates, is approaching a rate threshold that could unlock more refinance volume, said Andy Walden, head of mortgage and housing market research at Intercontinental Exchange. “An eighth of a point move, that little mini-move, gave us about
ICE’s Andy Walden: FHA performance a “yellow flag” right now Read More »
The mortgage market remains largely resilient — with delinquencies and foreclosures still below long-term averages — even as performance among Federal Housing Administration (FHA) loans continues to weaken. That’s according to ICE Mortgage Technology’s First Look report on September mortgage performance data. The data, released Friday, show the national delinquency rate — loans 30 or
ICE’s First Look report shows mortgage performance is strong despite FHA strain Read More »
Mortgage performance remained strong in September despite Federal Housing Administration loans driving up total foreclosures, according to new industry data. Overall foreclosure volume remained historically low, with foreclosure sales reaching 21,000 in the third quarter this year, roughly half of 2019’s pre-pandemic levels, according to a report from ICE Mortgage Technology. FHA loans accounted for
FHA foreclosures drag down strong mortgage performance Read More »