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Tag Archives: Investors

Stonegate Expands with New Acquisitions

Stonegate Mortgage Corporation, a non-bank mortgage firm focused on origination, financing, and servicing, announced the acquisition of the wholesale lending channel and certain distributed retail assets of Nationstar Mortgage Holdings.

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FDIC Adds to List of Bank Collapses as Texas Bank Goes Down

With only weeks left before the end of 2013, FDIC has added another tally to its list of the year's bank failures. The Office of the Comptroller of the Currency (OCC) announced Friday the closure of Texas Community Bank, National Association, in the Woodlands, Texas.

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Mortgage Fraud Actions Down in Q3

Legal actions on mortgage fraud cases fell to a post-crisis low in 2013's third quarter, Mortgage Daily reported in its quarterly Mortgage Fraud Index. The index, which tracks motions and decisions on cases in which lenders are given false information for the loan decision process, was 655 in Q3, the lowest value since the fourth quarter of 2007. Despite the overall decline, certain states remain hot spots for fraud; According to the site, California had the highest third-quarter index value, and Nevada's index climbed again.

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Report Shows $15B Growth in FHA’s Insurance Fund

More than a year after reporting a shortfall of $16.3 billion in the Federal Housing Administration's (FHA) Mutual Mortgage Insurance (MMI) Fund, HUD announced significant improvements in the agency's financial situation--though the fund remains in the red. An actuarial report released Friday shows FHA's insurance fund for single-family home loans has regained $15 billion dollars in value over the last year, bringing it to -$1.3 billion dollars and a capital ratio of -0.11 percent.

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Commercial/Multifamily Debt Outstanding Increases $25B in Q3

The level of commercial/multifamily mortgage debt outstanding increased $25.2 billion in Q3, with all four major investor groups increasing their holdings, the Mortgage Bankers Association (MBA) reported. The quarterly increase (representing about a 1.0 percent gain) was the largest since 2008, MBA reported. As of the end of the third quarter, total commercial and multifamily debt outstanding was $2.47 trillion. Just on the multifamily side, outstanding debt increased $10.8 billion (1.2 percent) to $887 billion.

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