September 8th, 2010
Posted To: Pipeline Press
Lenders offering FHA products know that Mortgagee Letter 2010-24 eliminated the unlimited CLTV ratio, and reinstated the requirement that the total of any FHA-insured first mortgage and any subordinate lien may not exceed the applicable FHA loan-to-value and geographical maximum mortgage amount. (Only the FHA-insured first mortgage must be within the FHA maximum mortgage limits.) But lenders may also want to listen in to an FHA “Condo Recertification Industry Call” Q&A session today at 2PM EST . The dial-in number is: 1-877-941-1706 and the confirmation number is: 170410. Yesterday I discussed SRP’s, and how it may behoove lenders to contemplate either servicing or subservicing these loans themselves since the market is not “adequately” compensating originators for the value. Obviously…(read more)
Forward this article via email: Send a copy of this story to someone you know that may want to read it.
View full post on Mortgage News Daily
September 8th, 2010
Posted To: MBS Commentary
Treasury just auctioned $21 billion 10 year notes . Auction demand was healthy thanks to one group of bidders specifically. The bond market has responded favorably in post auction trading. The high yield was 2.67%, which was 1.5 basis points below the 1pm “When Issued” yield, indicating bidding was aggressive, mostly because the market was able build in a big pre-auction concession. The bid to cover ratio was 3.21 bids submitted for every 1 accepted by Treasury. This is the strongest btc ratio since the June auction. Primary dealers took down 38.3% of the competitive bid and 18.1% of what they bid on, both metrics are below average. This implies someone else was standing at the ready to support supply offerings. That someone else was indirect bidders! Indirects took home a whopping 54.7% of…(read more)
Forward this article via email: Send a copy of this story to someone you know that may want to read it.
View full post on Mortgage News Daily
September 8th, 2010
Mariner Real Estate Partners LLC acquired an interest in $762 million in mortgages owned by the Federal Deposit Insurance Corp.
The way the deal was structured, Mariner acquired a 40 percent equity interest in a limited liability company that the FDIC created to hold the loans.
The other 60 percent interest in the LLC will be retained by the FDIC
View full post on MortgageDaily.com – Mortgage News Headlines
September 8th, 2010
Companies and funds reported raising $8.55 billion in August for real estate-related acquisitions or debt repayment — more than double the amount raised in July. That brings the total real estate-related funds raised through August to $63.9 billion from…
View full post on National Commercial Real Estate News From CoStar Group
September 8th, 2010
Outbound moves from the Golden State rose 10.3 percent while incomers increased 9.4 percent. Texas gained 50 percent more people than it lost.
View full post on Daily Real Estate News
