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Robert Copeland - Broker

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Mortgage News

Bank Repossessions and Delinquency Decline
12/20/2014 1:22 PM
Both the rate of delinquency and the number of completed foreclosures declined at banks. New foreclosure filings, however, increased.....Delinquency of at least 30 days, including loans in foreclosure, on first mortgages that are serviced by federally supervised banks finished September at 7.0 percent.....The 30-day rate edged down from...Read More
Ally Sale Marks TARP Milestone
12/20/2014 1:22 PM
The sale by the U.S. government of its remaining shares in Ally Financial Inc. marks a significant milestone both for the company and the Troubled Asset Relief Program.....Before the financial crisis, Ally-subsidiary Residential Capital LLC was a mammoth in the non-agency home lending market.....But by 2009, it was bleeding capital -- h...Read More
Multiple Firms Offering Conventional 97% LTVs
12/20/2014 1:22 PM
At least three mortgage bankers, include two wholesale lenders, have begun offering new conventional products with high loan-to-value ratios.....Earlier this month, Fannie Mae and Freddie Mac both announced that they had expanded LTV ratios to 97 percent.....The expanded ratios are available on purchase transactions where at least one c...Read More
Mortgage Rates Sink But Set to Spike
12/20/2014 1:22 PM
Interest rates on home loans plunged this past week. But the decline is likely to be erased in the next report... ..Freddie Mac reported in its Primary Mortgage Market Survey for the week ended Dec. 18 that 30-year fixed rates averaged 3.80 percent.....That was 13 basis points better than a week earlier, 67 BPS below a yea...Read More
Senate Democrats Urge HUD to Reduce M.I. Premiums
12/20/2014 1:22 PM
Democrats in the U.S. Senate are calling for a reduction in mortgage insurance premiums on government-insured loans.....The request was made in a letter sent Thursday to Department of Housing and Urban Development Secretary Julian Castro.....Signing the letter were 18 senators including Sen. Elizabeth Warren (Mass.), Sen. Charles E. Sc...Read More