Top Jumbo Mortgage Lenders in Fourth Quarter 2008
Most mortgage rates we see advertised are for conforming mortgages, which for sake of simplicity, are good for loan amounts up to $729,750.
But what about those of us looking for larger loans, otherwise known as jumbo mortgages? Who’s offering them and at what price?
Well, as I recently noted in an article, Return of the Jumbo, it looks as if this type of financing is making a bit of a comeback, after Read more
Mortgage Delinquencies Rise for Eighth Straight Quarter
Mortgage loan delinquencies increased for the eighth straight quarter, according to the latest data from credit bureau TransUnion.
The data, which is pulled from 27 million anonymous, individual credit files, found a whopping 4.58 percent of mortgage holders nationally were at least two months behind in payments, up from 3.96 percent a quarter earlier and 2.99 percent a year ago.
The 60 day+ delinquency Read more
Mortgage Job Losses Slow in Latest Quarter
While many industries still face massive layoffs, mortgage-related job losses seemed to have eased, according to employment data tracked by MortgageDaily.com.
There were a total of 8,646 mortgage industry layoffs during the fourth quarter of 2008, down from 11,229 a quarter earlier.
The net job loss was 7,721, thanks to 925 new hirings, potentially related to the recent surge in mortgage business attributable Read more
Fourth Quarter Mortgage Originations Slide at Citi, BofA
Bank of America saw total mortgage production of $44.6 billion in the fourth quarter, down from $51.5 billion in the third quarter, but nearly double the $24.5 billion seen a year earlier thanks to its acquisition of Countrywide.
At the same time, home equity loan originations slipped to just $5.3 billion from $7 billion a quarter earlier and $19.3 billion a year ago.
Total mortgage production for 2008 Read more