First time claims for unemployment insurance resumed their steady decline dipping 1,000 to 367,000 for the week ended May 5, the Labor Department reported Thursday after the previous week’s total was revised upward by 3,000 to 368,000, the highest leve…
News
With $2.7B Profit, Fannie Mae Ends Q1 Without Drawing Taxpayer Funds
Fannie Mae said Wednesday that it brought in $2.7 billion dollars in net income during the first quarter of this year, and for the first time since it was seized by the government in September of 2008, the company does not need a draw of taxpayer funds…
Ellie Mae Offers Buy-Back Insurance Option
Ellie Mae is adding a loan buy-back insurance option to its Total Quality Loan (TQL) program.
Transaction Dynamics Adds to Its Management Team
Transaction Dynamics, a Roseville, California-based consulting firm, hired Lynn Effinger to join the company’s management team as director of new business development.
Fiserv Expects Home Prices to Stabilize This Year Despite Price Declines
Analyzing the housing market through the perspective of 384 markets, Fiserv Case-Shiller Indexes pointed to a slow, but steady pace toward recovery after dramatic price declines. According to the Fiserv indexes, in the fourth quarter of 2011, home pric…
Delinquency Rate Reaches Lowest Level Since 2009: TransUnion
After declining during the 2012 first quarter, the national mortgage delinquency rate is at its lowest level since the first quarter of 2009 and finally dropped after two consecutive quarterly increases. TransUnion reported Wednesday that the national …
Profile of a Refinanced Loan in the First Quarter
According to Freddie Mac’s first quarter refinance analysis, 79 percent of homeowners who refinanced their first-lien mortgage either maintained or reduced their mortgage debt. Of these borrowers, 58 percent retained about the same loan amount, which i…
HUD Secretary Wants to Break Through Refinancing Barriers
Solvency issues re-emerged for the Federal Housing Administration in a hearing convened Tuesday by the Senate Banking Committee, with HUD Secretary Shaun Donovan calling for lower loan-to-value thresholds and more servicer competition to expand refinan…
In California, GSE-Backed Loans to Accept Funds for Reducing Principal
Due to one important adjustment, Fannie Mae and Freddie Mac might start accepting funds to be applied toward principal reduction in California. The Keep Your Home California program once required participants in its principal reduction program to match…
BofA to Offer Principal Writedowns to 200K Delinquent Borrowers
Bank of America began mailing out more than 200,000 letters this week targeting borrowers thought to be eligible for principal-reducing modifications under terms of the settlement reached with the federal government and 49 state attorneys general. To b…
