Category Archives: Banking

Supreme Court Ruling Says Second Mortgages Cannot Be Voided in Bankruptcy

The Supreme Court of the United States ruled on Monday, June 1st 2015, that homeowners who cannot repay their debt and file for bankruptcy in order to receive protection cannot have their second mortgage loan canceled even if they are

Purchase Loans Exceeding Mortgage Refinance in April According to Ellie Mae

The share of home purchase loans in the overall mortgage volume of lenders reached 52% in April. This is revealed in the Origination Insight Report of Ellie Mae for April 2015. The share of home purchase loans rose 6% from

Mortgage Delinquency Still Low Despite Small Increase in April

The mortgage loan delinquency rate in the United States reached 4.77% in April rising 1.46% from March. This is revealed in the “first look” report on mortgage performance for April 2015 compiled by Black Knight Financial Services. Despite the small

Another Week of Decreasing Mortgage Applications

The volume of mortgage applications declined by 1.5% in the week ended May 15th from a week earlier, according to the Weekly Mortgage Applications Survey of the Mortgage Bankers Association. The Market Composite Index, which measures the volume of applications,

Upward Movement in Mortgage Rates for Third Consecutive Week

The average rates of fixed-rate mortgages rise as the 10-year Treasury yields increase for a third week in a row. This is revealed in the Primary Mortgage Market Survey for the week ended May 14th conducted by Freddie Mac. The

Looser Mortgage Lending Standards in 2014

The Zillow Mortgage Access Index, which shows how loose or tight mortgage credit standards are, rose by 18.3 points from the level of 51.1 in the end of 2013 to 69.4 in the end of 2014. This indicated loosening of

High Mortgage Refinance Activity in the First Quarter

The share of refinancing mortgages in the total volume of single-family home loans originated in the first quarter of 2015 was 63%. For the whole of 2014, this share was approximately 52%. This data was presented in an official report

Drop in Mortgage Applications Due to Lower Refinance Activity

The volume of mortgage applications declined in the week ending April 24th compared to the previous week, according to the Mortgage Bankers Association. On a seasonally adjusted basis, the week-over-week decrease in the Market Composite Index was 2.3%. This is

More FHA Loans for the Purchase of New Homes

The share of new single-family homes purchased with financing from FHA mortgage loans rose to 16% of all new home sales in the first quarter of 2015, according to MarketWatch report based on data from the U.S. Census Bureau. This

Riskier First-Time Buyer Mortgages with Agency Backing

The First-Time Buyer Mortgage Risk Index (FBMRI) for mortgages backed by government agencies was higher in March 2015 compared to the average for the previous three months and to its level of the same time last year. It reached a

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