Bank of America: 'We provide all required MSR documents'

Bank of America: 'We provide all required MSR documents'

Responds to Ginnie Mae MSR transfer block

17% of homes with a mortgage seriously underwater

Share of underwaters continues slow decline

Here are 5 bold mortgage predictions from KBW

Q1 mortgage volume predicted to be $20 billion lower
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Lending

Bank CEO banned for buying condo with TARP money

Used $381,487 to buy himself a condo in Florida
April 17, 2014
According to the Federal Reserve Board, former bank CEO Darryl Woods took $381,487.45 of TARP funds to purchase a condo for himself in Fort Meyers, Fla.
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Morgan Stanley annual 1Q earnings increase 55%

April 17, 2014
Morgan Stanley recorded a first quarter surge in earnings with a 55% increase as higher revenue from its institutional securities business augmented another strong quarter from wealth management.
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Jobless claims remain at 7-year low

41% lower than same week last year
April 17, 2014
The 4-week moving average of unemployment claims is 312,000, which is the lowest since October 2007.
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Palisades to oversee Oaktree's mortgage assets

April 17, 2014
Palisades will serve as the credit manager of pools of single family residential loans held in more than thirty individual securitization trusts beneficially owned by Oaktree, representing over $3.2 billion of unpaid principal balance.
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Mortgage slowdown hits BB&T earnings

Just misses with 1Q net income of $501M
April 17, 2014
Following a trend in first quarter earnings for banks thus far, BBT saw a serious decline in mortgage activity.
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Freddie Mac: Mortgage rates fall two weeks straight

Investors flock to U.S.
April 17, 2014
Mortgage rates fell for the second week straight, as investors seek safety in U.S. Treasuries and mortgage bonds, assisting homebuyer affordability during the spring home buying season.
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Fifth Third earnings reflect stagnant mortgage growth

1Q net income falls to $309 million
April 17, 2014
Fifth Third Bancorp’s first-quarter earnings reflect a flat period for mortgage originations and less money coming in from mortgage banking revenue.
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Refinances continue downward trend, ARMs on the rise

ARMs up 5% from March 2013
April 16, 2014
ARMs made up 7.4% of the home loans closed in March. That was up by nearly 5% over March 2013’s figure of 2.5%.
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California home prices reach highest level in 6 years, don’t slow home sales

April 16, 2014
In March, the median price for a home rose to $366,000, which was up $16,000 from February and marks the highest price since March 2008. Despite the high price tag, home and condominium sales were up nearly 21% for the month.
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Bank of America: 'We provide all required MSR documents'

Responds to Ginnie Mae MSR transfer block
April 16, 2014
After Ginnie Mae stopped the transfer of mortgage-servicing rights from Bank of America to a nonbank, BofA emphasized that its servicing portfolios are on par with market requirements.
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