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NMP News

Another Positive Quarter for U.S. Banking Industry, $38.7 Billion in Q3 Profit


Commercial banks and savings institutions insured by the Federal Deposit Insurance Corporation (FDIC) reported aggregate net income of $38.7 billion in the third quarter of 2014, up $2.6 billion (7.3 percent) from earnings of $36.1 biClick to continue

HARP Refis Eclipse the 3.2 Million Mark Nationwide


The Federal Housing Finance Agency (FHFA) has reported that the total volume of mortgage refinances increased slightly in the third quarter. According to FHFA’s Refinance Report, total refinance volume for the third quarter exceededClick to continue

Mortgage Rate Black Friday Sale


"There have only been two days in the last 18 months where mortgage rates have been as low as they are now," said Gibran Nicholas, chairman of CMPS Institute, an organization that trains and certifies mortgage bankers and brokers. "Mortgage rates are determined by mortgage bond prices in the bond market.  There were Click to continue

FAMP’s Jacksonville Chapter Makes Donation to the Sulzbacher Center


Officers of the Jacksonville Chapter of Florida Association of Mortgage Professionals (FAMP) recently visited the Sulzbacher Center to deliver donations of cash and toiletries the group collected at its October meeting as part of the chapter’s ongoing community service efforts.Click to continue Rates Still Lingering Around the Four Percent Range as 2014 Wraps


Rates on the most popular types of mortgages hardly changed this week, according to's Weekly Mortgage Rates Radar. The average rate for conforming 30-year fixed-rate mortgages (FRMs) fell by a single basis point (0.01 percent) to 4.06 percent. Conforming 5/1 Hybrid ARM rates increased by one basis point, closing the Wednesday-to-Tuesday wraparound weekly survey at an average of 3.11 percent.Click to continue

FHFA Alters GSE Policy on REO Sales


The Federal Housing Finance Agency (FHFA) has directed the government-sponsored enterprises (GSEs), Fannie Mae and Freddie Mac, to alter one of their policies relating to the sale of real estate-owned (REO) properties in their current inventory. The change will perClick to continue

Property Flipping in U.S. Hits Lowest Levels Since 2009

Property Flipping/Credit: Jupiterimages

RealtyTrac has released its Q3 2014 U.S. Home Flipping Report, which shows that 26,947 single family homes were flipped nationwide in the third quarter of 2014—where a home is purchased and subsequently sold again within 12 months—representing four percent of all U.S.Click to continue Existing-Home Sales Flatten Out in November

House For Sale/Credit: Jupiterimages LLC has released the November Real Estate Nowcast which projects that existing home sales for the month will fall between seasonally adjusted averages of 5.05 and 5.46 million annual sales, with a targeted number of 5.25 million. This prediction suggests that sales will be essentially flat compared with October’s higher-than-expected 5.26 million sales figure, which was released on Nov. 20 by the National Association of Realtors (NAR).Click to continue

RBS Sought to Remove Mortgage of Bank Critic


One of Great Britain’s largest banks sought to jettison the mortgage it held with the author of a report that criticized the bank’s business practices.Click to continue