Articles by Christine Ricciardi

May mortgage delinquencies down substantially compared to 2010: LPS

U.S. mortgage delinquencies are faring much better compared to one year ago, according to Lender Processing Services' "First Look" report released Tuesday. The report provides month-end mortgage performance statistics from LPS' loan-level database of nearly 40 million mortgages. The Jacksonville, Fla.-based firm will release more detailed reporting in its upcoming "Mortgage Monitor" report, which comes out at the end of this month.
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MetLife pushes reverse mortgages as Wells Fargo, Bank of America retreat

MetLife Inc., the biggest U.S. life insurer, is poised to become the No. 1 reverse-mortgage lender as Wells Fargo & Co. and Bank of America Corp. leave the market. Wells Fargo, the largest U.S. home lender, is retreating from reverse mortgages in part because of “unpredictable home values,” the company said June 16. The reverse mortgage was the most prominently featured product last week on the website of MetLife Bank, a unit that the company said may hedge the parent against declines in the main insurance business.
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Houston home sales hit highest point since June 2010, data muddled by tax credit

The Houston metropolitan area is still feeling the effects of the first-time homebuyer tax credit, as May home sales, still weak, hit the highest point since the purchase incentive expired. May sales in the Houston metro area of all residential property types hit 5,948, down 11.2% from a year ago — the highest number of sales since June 2010, according to the Houston Association of Realtors. Single-family home sales were down 11.9% compared to May 2010 with 5,043 sales, while condo sales declined 20.7% to just 441 units. (Click on charts to expand.)
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North Texas foreclosure filings drop 28% in July

Postings in the four-county Dallas and Fort Worth metro area fell to 4,078 for the July auction, according to Foreclosure Listing Service. Dallas County reported the highest volume of foreclosure postings at 1,610, a 33% decrease from July 2010. Tarrant County had 1,374 postings, followed by Collin County at 582 and Denton County at 512.
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How to tell if your housing market has hit bottom

At first glance, you're not likely to see a lot of similarities between stately Cambridge, Mass., and sprawling Denton, Texas. Cambridge (population about 105,000) was already more than 200 years old when Denton (120,000) was founded in 1857. From the center of Cambridge, it's an easy stroll across the Charles River into Boston. Denton, in contrast, sits where Interstate Highway 35 divides—to the west, it's 41 miles to Fort Worth; to the east, 39 miles to Dallas.
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Prime mortgages originated in 2011 mirror proposed QRM: DBRS

Many in the housing industry fear the qualified residential mortgage will hinder origination levels. However one credit ratings agency found those seemingly arduous standards are common in today's tighter credit environment. According to DBRS, the standards for originating a prime loan in 2011 are very conservative. Indeed, the criteria is extremely similar to some aspects that would be mandated under the QRM. The DBRS finding shows how difficult it is for borrowers to currently qualify for a prime mortgage.
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BlackRock picks TransUnion for RMBS borrower tracking

BlackRock Solutions, the risk management arm of investment bank BlackRock [stock BLK][/stock], recently chose a TransUnion technology to further evaluate loans in mortgage-backed securities for BlackRock clients. TransUnion's Consumer Risk Indicator uses loan-level data and matching algorithms to identify the credit risk for an individual borrower. The product is based on securities data from CoreLogic [stock CLGX][/stock] LoanPerformance technology.
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