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- New Century Execs Settle Accounting Fraud AllegationsSettlements were announced between the Securities and Exchange Commission and former executives of New Century Financial Corp. None of the defendants admitted or denied allegations outlined in the SEC's complaint. The settlements are subject court approval in a global settlement tied to another case. […]
- MetLife Raises Quarterly OriginationsSecond-quarter residential originations at MetLife Home Loans increased around $300 million from the first quarter. Reverse mortgage production also improved. But overall business was down 55 percent compared to the second-quarter 2009. […]
- Serious Late Payments DeteriorateTotal mortgage delinquency of at least 90 days as of June 30 surged 82 basis points from May 31, LPS reported. The foreclosure rate shot up 47 BPS, according to the report. The delinquency rate, excluding foreclosures, was up 35 BPS. […]
- Mixed Performance at M.I. FirmsThe Mortgage Insurance Companies of America reported that the number of policies issued in June were 9 percent higher than in May. The number of new mortgage insurance applications has increased each month since January. But primary insurance in force fell $10 billion from May. In addition, primary insurance defaults increased 8 percent. […]
- Fannie Volume Tumbles, Lates Continue ImprovementNew business acquisitions at Fannie Mae declined 31 percent between May and June, according to monthly operational data.Compared to a year earlier, volume was down 45 percent.Residential delinquency of at least 90 days improved for the third consecutive month.Multifamily delinquency of at least 60 days fell for the second consecutive month. […]
- New Century Execs Settle Accounting Fraud Allegations
