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Mortgage News

RMBS Trustees Face More Litigation by NCUA
12/25/2014 1:57 PM
Just days after suing two trustees on residential mortgage-backed securities owned by failed corporate credit unions, the national regulator of credit unions has named Wells Fargo & Co. as a defendant in another action.....The National Credit Union Administration filed a complaint on Dec. 16 in U.S. District Court for the Southern Distric...Read More
5-Year Low for Delinquent CMBS Loans
12/25/2014 1:57 PM
Despite deterioration in loan performance on some securitized commercial real estate loans, the overall volume of delinquent loans fell to the lowest level in a half-decade.....Servicers of loans included in commercial mortgage-backed securities brought the rate of 30-day delinquency down 12 basis points in November.....The CMBS delinq...Read More
New Home Sales Down Again
12/25/2014 1:57 PM
In another sign that the U.S. housing market is softening, new home sales slowed again last month. But home builders are still optimistic.....Estimated sales of new single-family properties in November worked out to a seasonally adjusted annual rate that was down 2 percent from the previous month.....Based on a downward revision to Octo...Read More
2nd Consecutive Monthly Improvement at FHA
12/25/2014 1:57 PM
For the second month in a row, new business improved and mortgage delinquency declined at the Federal Housing Administration.....Business moved higher in the first month of FHA"s fiscal-year 2015, with endorsements during October rising 6 percent from the previous month.....The total was culled from operational data provided by the Depa...Read More
FHFA Takes Action On Super Liens
12/25/2014 1:57 PM
With homeowner association foreclosures wiping out liens on Fannie Mae loans, the company"s regulator has taken legal action... ..This past summer, appeals courts in Nevada and Washington, D.C., affirmed lower court decisions that an HOA foreclosure wiped first mortgages.....In the Nevada case, SFR Investments Pool 1, LLC. v. U.S. Ba...Read More