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Jun 05, 2006

LoanCity introduces five-year fixed payment option ARMMortgagePress.comPayment option ARMs, LoanCity LoanCity has unveiled a new payment option ARM product called "Take 5ive Option ARM," which combines the most attractive features of a payment option ARM with the interest-rate stability of a 5/1 hybrid ARM. The new product gives borrowers the option of paying at the low start rate (currently two percent) for up to five years, paying interest only, paying at a 15-year rate or making regular principal and income payments at a 30-year level. The product's note rate does not reset monthly and is fixed for five years. LoanCity is a wholesale mortgage lender based in San Jose, Calif. For more information, call (800) 281-2626 or visit www.loancity.com.

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Jun 05, 2006

Analysis and Data

One-Third Of Homeowners Expect To Refinance Despite Elevated Mortgage Rates

Many prospective refinancers carry mortgage rates above 5%, suggesting demand could accelerate if borrowing costs decline

One-third of homeowners say they are either currently refinancing or likely to refinance within the next two years, despite mortgage rates remaining well above pandemic-era lows, according to new survey data released by Refi.com.The findings challenge a common industry narra...

C-Suite Strategies

Two Harbors Reaffirms August Closing Timeline For CrossCountry Deal

MSR-focused REIT says it will continue regular dividends through closing as the proposed sale advances following UWM's decision not to submit a revised bid

Two Harbors Investment Corp. used its latest dividend announcement to reaffirm expectations that its pending sale to CrossCountry Mortgage remains on track for an August closing.The mortgage servicing rights (MSR)-focused real estate investment trust said it plans to continu...