Home mortgages insured by the Federal Housing Administration are falling into delinquency at a slower rate than they have in the past. If the trend is maintained, it could help the government agency avoid a taxpayer bailout. In April, nearly 8.5% of loans backed by the agency were 90 days or more past due. While that was still higher than a year earlier, April marked the third consecutive month in which delinquencies, which peaked at 9.4% in January, declined.
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Quicken Loans has become the largest mortgage lender in the country over the last few years due in large part to the growth of Rocket Mortgage, the company’s digital mortgage platform. As it turns out, Rocket Mortgage is becoming so big that it’s now consuming other parts of the Quicken Loans family of companies too, namely the company’s reverse mortgage lender.
Realogy will be renaming NRT, the business unit that includes Corcoran Group, Sotheby’s International Realty and Coldwell Banker.