Key insight: Banks made $80.5 billion in the first quarter, with the rate of lending at its fastest pace in years. Supporting data: The net interest margin industry-wide fell by 8 basis points to 3.31% Expert quote: “We’ve had several consecutive quarters of very favorable banking conditions, but at the same time we’re always mindful […]
Bank earnings rise in Q1, though margins tightened Read More »
US mortgage rates increased last week to the highest since August, restraining home-purchase activity and prompting a sharp pullback in refinancing. Processing Content The contract rate on a 30-year mortgage rose 9 basis points to 6.65% in the week ended May 22, according to Mortgage Bankers Association data released Wednesday. Since the start of the
Mortgage rates climb to highest level since August Read More »
Let’s be real with each other for a second about affordability. Because you deserve someone who will be honest and transparent about what’s going on, especially if you’ve got a move on your mind. Here’s the full picture of what’s happening and why. The good – and the bad. So, you know what it truly
The Truth About Affordability Today Read More »
One of the nation’s largest insurers is suing a Long Island-based lender for copyright infringement, suggesting the shop has profited off its similar brand. Processing Content Nationwide filed the lawsuit against Nationwide Mortgage Bankers last week in an Ohio federal court, claiming that the lender’s misuse has cost the industry giant “unquantifiable” damages. The insurer,
Nationwide files trademark suit against mortgage lender Read More »
Although mortgage rates are still relatively close to their highest levels in 9 months, they continue moving lower after hitting those highs as the beginning of last week. Today’s improvement follows news over the weekend that the U.S. and Iran are even closer to agreeing on a framework that would end the war. The war
Mortgage Rates Move Moderately Lower Read More »
Long-time mortgage industry executive Rick Thornberry is retiring as the CEO of the Radian Group just months after overseeing a major business shift into a multi-line insurer. Processing Content The company closed on its purchase of Inigo, a Lloyd’s specialty insurer in February; it is still in the process of selling its real estate services
Radian names ex-Mr. Cooper president as next CEO Read More »
The mortgage securitization market is facing two significant shifts: a proposed regulatory change that could reduce risk weights for private-label MBS, and an industry push for due diligence standards aimed at keeping up with surging growth in second-lien products. Processing Content The risk weighting for investment-grade MBS in the private market would fall from 20%
Securitization standards evolve for mortgages, home equity Read More »
The gap between inflation and home-price growth widened in March, as price gains continued to slow, an industry report found. Processing Content The S&P Cotality Case-Shiller home price index rose 0.7% annually in March, down from a 0.8% increase in the previous month. More than half of the major metropolitan markets in the United States
Gap between inflation and home-price growth widens in March Read More »
Sunday night crude oil futures traded as low as 89.41 after closing on Friday at 96.60. They are back around 92.75 now but was still enough of a break from last week that treasuries opened this morning with bullish gaps. Processing Content At the low yields on Friday, they were all trading in the gaps
Treasuries flash bullish signals after oil selloff Read More »
Another portfolio of prime mortgages, which primarily finance second homes and investment properties, will secure $517.7 million in residential mortgage-backed securities (RMBS), from sponsor Onslow Bay Funding. Processing Content Kroll Bond Rating Agencies says 1,322 fixed-rate mortgages are in the collateral pool, with second homes and investment properties accounting for 25.8% and 74.2% of the
Onslow Funding latest RMBS raises $517.7 million Read More »