MSRs on Fannie Mae Loans Up for Bid - Wed 21 Mar 2018
Mortgage servicing rights on nearly $2 billion in home loans backed by the Federal National Mortgage Association have been put up for auction.

The offering includes MSRs on 7,488 single-family Fannie Mae A/A loans that had a collective unpaid principal balance of $1.847 billion as of Feb. 28.

Loans secured by California properties make up 23 percent of the mortgages, and another 12 percent are in Texas. No other states have a double-digit share.

UBS Agrees to RMBS Settlement - Wed 21 Mar 2018
Two units of UBS have agreed to settle allegations that they misled investors about the quality of toxic mortgage securities.

In 2006 and 2007, UBS Real Estate Securities Inc. and UBS Securities LLC were in the business of issuing residential mortgage-backed securities.

During that two-year period, the pair of UBS units participated in the process of securitizing tens of thousands of residential>

Mortgage Closings Speed Up as FHA Share Falls - Wed 21 Mar 2018
As government-insured mortgage share has diminished over the past year, the time to close has shortened. But it has become slightly more difficult to qualify for a home loan.

Conventional mortgages accounted for more than two thirds of all loans closed during February, widening from a 63 percent share in the same month last year.

At the same time, the share of loans that were insured by the Federal Housing Administration thinned to 19 percent from 23 percent in February 2017.

Wells Fargo Wants to Expand MN Mortgage Office - Wed 21 Mar 2018
An expansion sought for a mortgage facility in the Twin Cities would enable Wells Fargo & Co. to house more than an additional thousand employees there.

At an existing Wells Fargo Home Mortgage facility in Minneapolis, the financial services firm wants to build a six-story parking ramp.

The campus is already home to approximately 3,750 mortgage employees, while around 18,000 Wells Fargo employees are located in the Minneapolis metropolitan area.

West Leads Rise in Existing Home Sales - Wed 21 Mar 2018
A jump in the sale of pre-owned homes last month in the West led an overall national gain. In the Northeast, however, there was a significant slump amid brutal weather conditions.

During February, the sale of 319,000 existing U.S. homes was completed. The total reflects the sale ofsingle family homes, townhomes, condominiums and co-operatives.

Last month's real estate activity brought to 632,000 the number of existing home sales that have closed during the first two months of this year.

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