All About Home http://all-about-home.tipsonclicks.com The path to become a knowledgeable and a complete home owner Fri, 25 May 2012 08:05:56 +0000 http://wordpress.org/?v=2.8.4 en hourly 1 all-about-homehttp://feedburner.google.comSubscribe with My Yahoo!Subscribe with NewsGatorSubscribe with My AOLSubscribe with BloglinesSubscribe with NetvibesSubscribe with GoogleSubscribe with PageflakesSubscribe with PlusmoSubscribe with The Free DictionarySubscribe with Bitty BrowserSubscribe with NewsAlloySubscribe with Live.comSubscribe with Excite MIXSubscribe with Attensa for OutlookSubscribe with WebwagSubscribe with Podcast ReadySubscribe with FlurrySubscribe with WikioSubscribe with Daily Rotation NovaStar Distances Itself from Subprime Era http://feedproxy.google.com/~r/all-about-home/~3/8YDz3Lvmg78/novastar-distances-itself-from-subprime-era http://all-about-home.tipsonclicks.com/home-and-garden/novastar-distances-itself-from-subprime-era#comments Fri, 25 May 2012 08:05:53 +0000 admin With a new name in hand, NovaStar Financial Inc. is closing the book on its subprime mortgage past.

The Kansas City, Mo.-based company disclosed in January 2008 plans to eliminate most of its staff and discontinue retail and wholesale mortgage originations in a move intended to preserve cash and reduce debt. All of its lending licenses were subsequently allowed to lapse.

But later that same year, the company repaid debt owed to Wachovia Bank, N.A., and settled outstanding repurchase demands with the former financial services giant. It also acquired PipeFire LLC, an appraisal management company that now successfully operates as StreetLinks LLC — a Mortgage Daily advertiser.

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]]> http://all-about-home.tipsonclicks.com/home-and-garden/novastar-distances-itself-from-subprime-era/feed 0 http://all-about-home.tipsonclicks.com/home-and-garden/novastar-distances-itself-from-subprime-era New Business Tumbles at Freddie http://feedproxy.google.com/~r/all-about-home/~3/e3FWr71AoiY/new-business-tumbles-at-freddie http://all-about-home.tipsonclicks.com/home-and-garden/new-business-tumbles-at-freddie#comments Fri, 25 May 2012 08:05:56 +0000 admin New business sank to the lowest level since last summer at the Federal Home Loan Mortgage Corp., and the book of business has fallen by more than $100 billion during the past year. While there was no change in the rate of residential delinquency, performance on apartment loans deteriorated.

The McLean, Va.-based company reported that purchases and issuances during April plummeted 38 percent from March.

Freddie Mac hasn’t been this slow since July 2011.

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]]> http://all-about-home.tipsonclicks.com/home-and-garden/new-business-tumbles-at-freddie/feed 0 http://all-about-home.tipsonclicks.com/home-and-garden/new-business-tumbles-at-freddie 2012 Originations Now Expected to Exceed 2011 http://feedproxy.google.com/~r/all-about-home/~3/F06NK4q5WNk/2012-originations-now-expected-to-exceed-2011 http://all-about-home.tipsonclicks.com/home-and-garden/2012-originations-now-expected-to-exceed-2011#comments Thu, 24 May 2012 18:05:14 +0000 admin A nearly $0.2 trillion increase in mortgage bankers’ forecast of residential originations this year now has volume exceeding production during 2011. All of the 2012 improvement is with expected refinance volume — as the forecast for home purchase financing has been cut. But a real estate market recovery is expected next year with home purchase financing projected to surge by nearly three quarters.

The estimate of total first-quarter originations was $318 billion last month. But a revised estimate this month now has first-quarter volume at $363 — in line with Mortgage Daily’s $361 billion estimate delivered earlier this month.

The previous outlook had home-loan volume falling to $334 billion in the second quarter and $225 billion in the third quarter.

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