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Mortgage Industry News for the Mortgage Industry
Updated: 3 years 4 weeks ago

Fannie Lifts Origination Forecast by $185 Billion

Tue, 07/19/2016 - 6:40pm
The Federal National Mortgage Association has increased this year's and next year's projected loan originations by $185 billion.

Single-family mortgage originations are expected to reach $500 billion in the third quarter then fall to $412 billion three months later.

Fannie Mae then predicts that U.S. lenders will generate $333 billion in residential loan production during the first-quarter 2017.

Multifamily Loans Boost CMBS Performance

Tue, 07/19/2016 - 5:54pm
Performance improved last month on loans included in commercial mortgage-backed securities thanks to apartment loan delinquency.

Loans that were delinquent at least 30 days or in the foreclosure process represented 2.86 percent of all CMBS loans as of June 30.

The level of delinquency on CMBS loans improved compared to a month previous, when the 30-day rate came in at 2.91 percent.

MGIC Business, Delinquency and Earnings Improve

Tue, 07/19/2016 - 2:27pm
The quarterly volume of new business, the degree of delinquency and the amount earned at the parent of MGIC Guaranty Insurance Corp. all improved.

New insurance written by the Milwaukee-based company from April 1 through June 30 of this year amounted to 52 percent more than in the first quarter.

The results, along with other operational and financial metrics, were disclosed by parent MGIC Investment Corp. in its second-quarter earnings report.

Serious 2nd Mortgage Delinquency Down

Tue, 07/19/2016 - 2:10pm
Although there was a modest rise in serious delinquency on first mortgages, the past-due rate made a month-over-month improvement on second mortgages.

Delinquency of at least 90 days on consumer credit was 0.82 percent as of June 30, 2016, according to the Composite Consumer Credit Default Index.

The index -- a reflection of monthly performance on automobile loans, bank cards and first and second mortgages -- rose one basis point from a month earlier.

FHA Moves Forward With Lending Behind PACE Loans

Tue, 07/19/2016 - 1:23pm
The Department of Housing and Urban Development has followed through on a plan to allow government-insured loans on properties with energy efficient improvement liens.

HUD's plan involves residential loans that are insured by the Federal Housing Administration and utilized to finance houses that have Property Assessed Clean Energy loans.

PACE loans are used by homeowners seeking clean energy technologies for their residences. Improvement costs are paid through an assessment added to the property's tax bill.

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