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| Reverse Originations Gaining Steam |
The U.S. Department of Housing and Urban Development reported last week that reverse mortgage originations climbed to 5,901 loans for a maximum claim amount of $1.5 billion in July from 5,304 loans endorsed for $1.3 billion a month earlier.
It was the second month in a row of gains.
In August, according to the Reverse Market Insight newsletter, reverse mortgage production increased 13 percent. |
| MortgageDaily.com - Mortgage News Headlines |
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| Wachovia Vs. WaMu Debated by Regulators |
In an appearance before the Financial Crisis Inquiry Commission, regulators testified about the why there was disparate treatment in the resolution of Washington Mutual Inc. and Wachovia Corp.
The Federal Deposit Insurance Corp.'s chairman said the FDIC had known for months that WaMu was in trouble.
But with Wachovia it didn't know until very late in the game how dire the situation was.
In addition, Wachovia was deemed systemically important. |
| MortgageDaily.com - Mortgage News Headlines |
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| Surprise Increase in Mortgage Jobs |
The number of mortgage jobs was up by 2,300 positions in July, according to data released Friday by the U.S. Department of Labor.
Headcount in "real estate credit" was up by nearly 3,000 jobs.
But "mortgage and nonmortgage loan brokers" saw their numbers decline by around 500 positions, the government data indicated. |
| MortgageDaily.com - Mortgage News Headlines |
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| CMBS Delinquency Leaps |
Second-quarter performance on commercial real estate loans was up 139 basis points from the first quarter, the Mortgage Bankers Association reported.
Among all investor types, performance on CMBS loans was worst.
Compared to a year earlier, CMBS delinquency was up more than 400 BPS. |
| MortgageDaily.com - Mortgage News Headlines |
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