First Guaranty Mortgage files for Chapter 11 after layoffs

Signage is seen at the United States Bankruptcy Court for the Southern District of New York in Manhattan, New York City. REUTERS/Andrew Kelly Register now for FREE unlimited access to Register First Guaranty Mortgage originated $10.6 bln in mortgage loans in 2021 Laid off 80% of its workforce The company blamed a collapse in

COLT Mortgage Loan Trust floats $423.3 million in MBS

COLT 2022-6 Mortgage Loan Trust is preparing to issue $423.3 million in mortgage-backed securities (MBS), or certificates, in a deal secured by a pool of 1,017 nonprime loans. The transaction will have to overcome several potentially negative credit drivers, according to Fitch Ratings. For one, home price values in the current pool are 9.7% below

5 Mortgage Lenders To Consider If You’re Making A Small Down Payment

Select’s editorial team works independently to review financial products and write articles we think our readers will find useful. We earn a commission from affiliate partners on many offers, but not all offers on Select are from affiliate partners. The homebuying process can seem confusing and overwhelming, especially since there are so many moving parts to consider.

Mortgage, home loans could be easier with Fannie Mae, Freddie Mac plan

In a historic move, Fannie Mae and Freddie Mac announced changes to battle systemic racism that has blocked people of color from homeownership. Fannie Mae and Freddie Mac are rolling out a credit reporting system that factors in paying rent into creditworthiness score. Other measures include down payment assistance, improved underwriting guidelines, reserve funding for emergencies and

Mortgage demand falls to lowest level since 2018, even as interest rates ease

A single family home is shown for sale in Encinitas, California. Mike Blake | Reuters Mortgage demand slipped to the lowest level since December 2018, even after rates declined slightly last week. Applications for a mortgage to purchase a home fell 1% last week compared with the previous week, according to the Mortgage Bankers Association’s

Mortgage demand slides further, even as interest rates pull back slightly

Mortgage rates turned lower for the second straight week, but it wasn’t enough to boost demand for either new purchase loans or refinances, according to a weekly report from the Mortgage Bankers Association. Rates are still much higher than they were for the past two years. Last week the average contract interest rate for 30-year