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Mortgage Performance

Conforming Loan Limit to Rise for First Time in Many Years

But ‘Jumbo inversion’ means conforming still more expensive for borrowers

Sam Khater    |    Mortgage Performance

Jumbo Conforming Spread in Basis Points

The Federal Housing Finance Administration has confirmed there will be a new conforming loan limit next year. For the first time in a decade, the loan limit will increase, from $417,000 to $424,100. What will the effect of this one percent plus rise be? Maybe not as much as it has in the past.

That’s because the inversion of the conforming and jumbo lending interest rates...

Housing Credit Index: Third Quarter 2016

Loans Originated in The Third Quarter Were Higher in Credit Quality Than One Year Ago

Archana Pradhan    |    Mortgage Performance

Overall Housing Credit Index
  • CoreLogic’s Housing Credit Index (HCI) found mortgage loans originated during the third quarter of 2016 continued to exhibit low credit risk versus the previous quarter and one year earlier.
  • The average credit score for homebuyers increased 5 points between the third quarter of 2015 and the third quarter of 2016, rising from 734 to 739.
  • The average DTI...

There is a Comeback of Occupancy Fraud … In Reverse

A new twist in mortgage fraud trend

Willa Wei    |    Mortgage Performance

Traditional occupancy fraud occurs when mortgage applicants deliberately misrepresent their intended use of a property, typically for more attractive financing terms. Investment properties may have lower maximum loan amounts, higher interest rates and higher fees. These differences may motivate a borrower to falsely claim an investment property will be owner-occupied. However, there is a...

Foreclosure Report Highlights: October 2016

Distressed Homes Inventory 79 Percent Below Peak Level

Molly Boesel    |    Mortgage Performance

Distressed Inventory Cont to Shrink
  • The October 2016 foreclosure inventory was 79 percent below the January 2011 peak.
  • The inventory of mortgages in serious delinquency fell 24.8 percent year over year in October 2016.
  • Only Alaska, North Dakota and Wyoming experienced a year-over-year increase in the serious delinquency rate.

The national foreclosure inventory – the number...

Foreclosure Report Highlights: September 2016

Distressed Homes Inventory Drops 31 Percent Year Over Year

Molly Boesel    |    Mortgage Performance

  • The foreclosure inventory was 78.3 percent below the January 2011 peak in September 2016.
  • The inventory of mortgages in serious delinquency fell 24.8 percent year over year in September 2016.
  • All states except North Dakota and Wyoming had a year-over-year decrease in the serious delinquency rate.

The national foreclosure inventory – the...

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