Texas FHA Lending Boom
Is the boom in FHA Lending a cause for concern? Nearly 20% of all new mortgages now insured by government agency. The Texas mortgage shakedown of the subprime mortgage industry and its fallout on conventional lenders has led to such a boom in business at the Federal Housing Administration that the agency is now insuring nearly one in five new residential mortgages, helping salvage some neighborhoods in some of the nation’s battered real estate Read more
HSBC to Cease Wholesale, Correspondent Mortgage Lending
A took awhile, but it looks like HSBC has finally decided to throw in the towel, leaving very few mortgage lenders in the wholesale space.
The company announced today that it would cease both wholesale and correspondent mortgage lending effective immediately, as a result of, you guessed it, “unprecedented market conditions.”
HSBC will continue to process loans registered as of today, but all loans Read more