Cornerstone Mortgage

5/20/2012 11:18 AM

It was the third week in a row that inquiries for refinances were higher as mortgage rates continued to descend to depths not seen before. All signs point to even lower mortgage rates in next week's report. But at least one category that did not participate in the rally was purchase financing. ....A 4 percent increase was recorded from the pr...Read More

Freddie Sued by Its Biggest Mortgage Insurer

5/20/2012 11:18 AM

A lawsuit has been filed against the Federal Home Loan Mortgage Corp. and its conservator-regulator by the secondary lender's biggest mortgage insurance counterparty. At issue is the interpretation of the maximum coverage for a pool of loans.....The lawsuit was filed in U.S. District Court for the Eastern District of Wisconsin........Read More

MGIC Loosens Restricted Markets Requirements

5/20/2012 11:18 AM

Credit and debt-to-income ratio requirements have been eased in the country's most struggling real estate markets by Mortgage Guaranty Insurance Corp. The move is a result of market improvement.....Current guidelines require a minimum credit score of 720 in markets where restricted underwriting guidelines are in place.....The limitation...Read More

Record Mortgage Rates Poised for Another New Low

5/20/2012 11:18 AM

The good news is that fixed mortgage rates fell to the lowest levels on record and are already on their way to setting another new low -- with a sub-3 percent rate in site for the 15-year mortgage.....The bad news is that the stock market is on its way to the lowest point this year. There were no records set, however, for adjustable-rate prod...Read More

Record Low for 10-Year Treasury Yield

5/20/2012 11:18 AM

Thanks to the sovereign debt crisis in Europe, the yield on the benchmark 10-year Treasury note fell to the lowest level on record.....The 10-year yield closed at 1.70 percent Thursday, according to data from the Department of the Treasury.....The yield sank 6 basis points from Wednesday.....Read More