Mortgage Round Up from OpenClose mortgage software

  • Bank of America Corp., JPMorgan Chase & Co., Citigroup Inc., Wells Fargo & Co. and Ally Financial Inc. have cut struggling homeowners’ mortgage balances by $19 billion, part of a total $45.8 billion in relief provided under a landmark settlement over foreclosure abuses. 
  • According to the Mortgage Bankers Association’s (MBA) recently released National Delinquency Survey, delinquency rate for mortgage loans on one-to-four-unit residential properties in the U.S. fell to a seasonally adjusted rate of 7.09 percent of all loans outstanding at the end of the fourth quarter of 2012, the lowest level since 2008, a decrease of 31 basis points from the previous quarter, and down 49 basis points from one year ago.
  • Residential lenders originated around 3% more in U.S. loans during the fourth quarter than in the third quarter, according to the 2012 Mortgage Lender Ranking from Mortgage Daily.