Royal Bank of Scotland reveals£7BILLION loss in 2016 

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… linked to the sale of mortgage-backed securities – which was included … Justice over its mis-selling of sub-prime mortgage products.
Paul Lynam, chief executive …

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Royal Bank of Scotland reveals£7BILLION loss in 2016 

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Why strong banks matter

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… face down US regulators over sub-prime mortgages rather than meekly taking its …

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Why strong banks matter

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Mortgage Rates Little Changed 4 Weeks, Could Fall

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For the fourth week in a row, interest rates on residential loans moved little. But it looks like a decline could be ahead in the next report.

Freddie Mac reported in its Primary Mortgage Market Survey for the week ended Feb. 23 that 30-year fixed rates averaged 4.16 percent.

Rates on home loans were hardly different than the prior week, when the average was 4.15 percent. The average was 3.62 percent a year earlier.


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Top 10 Favorite Ski Destinations for 2017 Span North America According to Reservation Counter

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LEHI , UT, USA, February 23, 2017 /EINPresswire.com/ — Traveler trends have given insight on North America’s favorite winter sport destinations this year, according to Reservation Counter. The leading hotel booking company successfully completes nearly …

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Top 10 Favorite Ski Destinations for 2017 Span North America According to Reservation Counter

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Appraiser Fraud Alert Issued

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A rash of cases have been uncovered where the identity of appraisers approved for government mortgages have been stolen.

The cases involve someone using the state certification number of an appraiser on the roster of the Federal Housing Administration.

Those whose certification numbers were fraudulently utilized were unaware of the fraud until it came to light usually on accident.


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Appraiser Fraud Alert Issued

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Risk of Default Down on Mortgages

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A quarter-over-quarter and year-over-year decline was recorded for the level of risk on new mortgage originations.

In the third quarter of last year, the country’s residential lenders generated $505.2 billion in mortgage production.

Home-lending activity moved lower versus the previous three-month period, when $447.2 billion in loans were closed.


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Risk of Default Down on Mortgages

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Jumbo Leads Quarterly Rise in RMBS Issuance

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Non-agency mortgage securitization volume accelerated during the final-three months of last year, with jumbo activity leading the way.

During all of last year, U.S. residential loan originations amounted to $1.89 trillion. Production picked up from $1.68 trillion in 2015.

Last year’s mortgage lending activity included $0.99 trillion in loans to finance a home purchase and $0.90 trillion in refinance production.


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Jumbo Leads Quarterly Rise in RMBS Issuance

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Ocwen Losses, Servicing and Originations Down

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Ocwen Financial Corp. cut its quarterly losses. Also retreating was residential lending volume and the mortgage servicing portfolio.

There was a $10 million pre-tax loss during the final three months of last year at the West Palm Beach, Florida-based company.

The results, in addition to other operational and financial metrics, were provided in Ocwen’s fourth-quarter 2016 earnings report.


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Mortgage Delinquency Down in January

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The first month of this year was a good one for home-loan performance, with delinquency and foreclosures retreating.

U.S. mortgages that were at least 30 days past due or in the foreclosure inventory numbered 2.643 million as of Jan. 31.

That turned out to be the lowest number of residential loans that were classified as non-current since August 2006.


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The mortgage market is now dominated by non-bank lenders

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mortgage loan volume, but the entire private market of investors in mortgages … boom, many non-bank lenders targeted subprime borrowers, he says. “This time … Trump administration could change the mortgage-lending business again and impact the …

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The mortgage market is now dominated by non-bank lenders

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