The transaction includes about 123 loans and is expected to close by August
Refi activity also rose to 46.6% of total mortgage applications from 45.4%
Existing-home sales eased in March from inventory constraints, which continued to pressure home prices, according to the National Association of Realtors®.
Foreclosures move at a glacial pace in jurisdictions such as Florida and New Jersey, but several other states offer little in the way of consumer protection against overzealous lenders and services that push the boundaries of the law in order to take quick possession of a distressed property.
Good news for the mortgage origination and secondary markets: A recent report published by credit bureau TransUnion indicates that the national home loan delinquency rate has vastly improved over the last few months.
Profits at Fannie Mae, a government-sponsored entity (GSE) dedicated to guaranteeing mortgages originated in the United States, have been very positive lately. Instead of reinvesting or distributing the profits among Wall Street investors, however, Fannie Mae will be transferring dividends to the U.S. Treasury.
Jumbo mortgages are traditionally associated with luxury homes and other residential properties typically located in neighborhoods where higher costs of living tend to keep middle and working class house hunters away.
An "option agreement" is a contract used in real estate investing that gives you the right to purchase a property for an agreed upon price up to a certain time frame.