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The Federal Housing Administration (FHA) will "soon" increase its annual premium on Jumbo mortgages by 25 basis points, according to government budget documents released Monday morning.
February 13 -
For the moment, the job of ensuring that the nation's largest banks comply with the terms of last week's mammoth mortgage settlement falls on just one man.Joseph A. Smith, Jr., North Carolina's banking commissioner, is charged with ensuring that the five biggest mortgage servicers — Bank of America Corp., JPMorgan Chase, Citigroup, Wells Fargo and Ally Financial — implement new servicing standards and take other steps that are required by the settlement.
February 13 -
A mortgage banking firm specializing in U.S. Department of Veterans Affairs (VA) loans is trying to sell $4.5 billion of GNMA-backed mortgage servicing rights through Interactive Mortgage Advisors (IMA), Denver.
February 13 -
Servicers will likely avoid extending modifications as part of the $26 billion AG settlement since they will not be indemnified against investor lawsuits, according to a JPMorgan Securities report.
February 13 -
The mortgage insurance division of Genworth Financial is beginning to see a noticeable pick up in Home Affordable Refinance Program (HARP) refinancing applications, a sign that the '2.0' version of the program may finally be gaining traction.
February 13 -
Carrington Capital Management, a unit of Carrington Holding Co., and American Home Mortgage Servicing (AHMSI) have agreed to bring to a close the action filed by Carrington against AHMSI in 2009.
February 10 -
Greek drama book-ended the week that led to sharp flight-to-quality trades on Monday and Friday. Meanwhile, Treasury supply weighed on the market the days in between, which caused 10-year note yields to surge to 2.047% by Thursday's close from 1.90% at Monday's close.
February 10 -
More than a day after the announcement of a mammoth national mortgage servicing settlement, the actual terms of the deal still aren't public. The Web site created for the national settlement lists the document as "coming soon."
February 10 -
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Bond-insurer Assured Guaranty Thursday announced it was doubling the quarterly dividend to 9 cents per share.
February 10
