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Mortgage prepayments jump 58% as refinancings surge

Mortgage prepayments jumped 58% in July from a year ago as cheap rates drove refinancings, according to Black Knight. The prepay volume was up 26% from the prior month. The lowest mortgage rates in almost three years drove more Americans to refinance home loans. The average U.S. rate for a 30-year fixed mortgage fell to […]

[Pulse] With mortgage rates and bond yields low, is it time to retain mortgage servicing?

Mortgage rates and bond yields have plummeted recently. As a result, the economics of mortgage lending have shifted. In this guest contribution, former MBA CEO David Stevens asks whether the time is right for lenders to consider retaining the mortgage servicing rights on their loans.

ATTOM: Number of zombie foreclosures has been cut in half since 2016

At the height of the housing crisis, tens of thousands of homes were abandoned during the foreclosure process, with many borrowers simply walking away from homes because they had nothing to lose financially on their homes. But a new report from ATTOM Data Solutions shows that the number of zombie foreclosures has decreased dramatically in […]

Krebs says the SEC is investigating First American data exposure

The SEC is reportedly investigating an alleged security incident involving First American’s website that may have exposed more than 885 million records related to real estate closings and mortgage fundings going back to 2003, cybersecurity expert Brian Krebs said on Monday. Ben Shoval, a Seattle real estate developer cited by Krebs in May as the […]

Nearly 10 million borrowers could lower their mortgage rate by 0.75% by refinancing right now

Just three days ago, data from Black Knight showed that 8.2 million borrowers could save big on their mortgages thanks to the recent decline in mortgage interest rates, but rates have continued to fall all week. Now, the number of borrowers that could benefit from a refinance has jumped to nearly 10 million.