Resources


Current Mortgage Rates

Powered by Mortgage Rates @ MBR

MortgageDaily.com - Mortgage News Headlines

  • Default Service Providers Promote Products
    Default service providers are busy this week touting their wares as mortgage servicers converge in Florida. Products being promoted include those that identify property association liability and platforms for the entire default loan process. Stewart Lender Services is exhibiting at the Mortgage Bankers Association's National Mortgage Servicing Conference & EXPO 2012 this week at the Orlando World Center Marriott. The Houston-based service provider said last week that its Rental Management Solutions now provides national property management services. Another exhibitor, CoreLogic, reported Tuesday that it released DefaultView, a new default servicing platform to help servicers manage loans throughout the entire default cycle.


  • Expected 1st Half Originations Upped
    Thanks to a stronger refinance outlook, more mortgage business is expected during the first six months of 2012 than was forecast last month. The outlook for residential production during the first quarter was raised 13 percent from what was forecasted just last month. Even the second-quarter projection was raised 3 percent from the prior prediction.


  • Mortgage Market Needs Changes
    A leading analyst sees many changes needed in the mortgage market. One of those changes is higher interest rates. Meredith Whitney, founder and chief executive officer of Meredith Whitney Advisory Group noted that the Federal Reserve is evenly divided between raising rates and not raising rates. But low rates haven't done much for the mortgage market because borrowers can't qualify or don't have enough equity.


  • GSE Execs Rack Up Tens of Millions in Legal Expenses
    An inspector general report examined legal fees being paid on behalf of former senior executives of the Federal National Mortgage Association and the Federal Home Loan Mortgage Corp. One way that the two government-controlled enterprises can cut back on legal expenses is to stay all litigation until they are out of conservatorship since neither will ever be in a position to pay such fees. The report highlighted the case of three former executives of Fannie Mae -- including its former chief executives officer, chief financial officer and controller -- who are accused of engaging in practices to artificially inflate the company's stock price. The three settled with the Federal Housing Finance Agency's predecessor, the Office of Federal Housing Enterprise Oversight, in August 2008 for a combined $31 million.


  • HUD Clarifies HAMP Credits Toward Settlement
    While some principal reduction on mortgages with government loan modifications can be credited towards the recent mortgage servicer settlement, the vast majority of loans modified under the federal program won't be eligible. The Department of Housing and Urban Development says that incentives paid to servicers under the Home Affordable Modification Program cannot be used as credit towards the massive mortgage servicer settlement announced on Feb. 9. HUD was responding to a news article that an article in the Financial Times that, it says, argues HAMP subsidies are being used for credit under the settlement.


The Mortgage Reports : Today's Mortgage Rates & Strategy