Fannie Mae Eases M.I. Termination Requirements - Thu 19 Jul 2018
The Federal National Mortgage Association is making it easier for borrower to cancel mortgage insurance through valuation alternatives and looser loan-to-value ratios.

Fannie Mae has updated its requirements for the process of evaluating borrower-initiated requests for mortgage insurance termination.

According to the Washington-based firm, the new requirements will lead to a better customer experience for both servicers and borrowers.

Solid Business Growth at MGIC as Earnings Improve - Thu 19 Jul 2018
The book of business, insurance written and earnings all increased from the prior quarter and a year prior at MGIC Investment Corp. Meanwhile, delinquency decreased..

The mortgage insurer's second-quarter 2018 earnings report revealed that income before taxes during the three months ended June 30 came to $238 million.

Earnings improved from the same quarter last year, when income came in at $181 million. An increase was also reported from the first-three months of this year, when pre-tax income was $180 million.

Freddie Refinances Drive Down Overall GSE Refis - Thu 19 Jul 2018
Although monthly refinances of Federal National Mortgage Association loans moved higher, a decline in refinances of Federal Home Loan Mortgage Corp. loans left volume at the lowest level in a least seven years.

Refinances of Fannie Mae and Freddie Mac residential loans by primary home lenders during May came to 103,748, the Federal Housing Finance Agency reported.

Transaction volume dipped from a downwardly revised 104,862 the preceding month to the slowest month on record since at least May 2011 based on the oldest data reported

LOs Continue to Migrate from Banks to Nonbanks - Thu 19 Jul 2018
As the number of mortgage loan officers expanded, the quarterly trend of originators fleeing financial institutions for non-bank home lenders continued.

As of March 31, there were 558,552 bank and non-bank mortgage loan originators who were registered in the NMLS database.

The total count increased from 553,104 in the first quarter of last year -- marking the first drop in NMLS count from the first quarter to the first quarter since the tracking of the data began in 2011.

Originations Up at US Bank, Further Gain Likely - Thu 19 Jul 2018
Quarterly home-lending volume moved up at U.S. Bancorp and appears to be headed even higher. As corporate income rose, mortgage earnings were lower. The mortgage servicing portfolio contracted.

The Minneapolis-based financial institution's second-quarter earnings report reflected $2.2 billion in income before taxes.

Earnings were up from $2.1 billion in the second quarter of last year. Results also showed an improvement from the $2.1 billion earned during the first quarter of this year.

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