A mortgage is a loan that is used to purchase a home. The borrower agrees to make monthly payments to the lender, including principal and interest. The property that is being purchased serves as collateral for the loan. If the borrower defaults on the loan, the lender can foreclose on the property and sell it…
Most Americans are in debt struggling with massive student loan debt that is keeping them from living the American dream, including buying the car of their dreams, the home of their dreams and even starting that family they’ve always wanted. Student Loan Debt From the earliest days of student loan programs, observers have worried that…
LONDON: LSL Property Services has announced the acquisition of a 60% stake in Direct Life Quote Holdings Limited for £1.8 million, and the acquisition in full of the business and assets of Mortgage Gym Limited for £2.4 million, as part of its digital strategy to drive growth in financial services. LSL is one of the…
OLDWICK: As more of Fannie Mae and Freddie Mac’s mortgage risks continue to make their way to the reinsurance market, AM Best has published tables of net capital charges associated with a select group of transactions from these government-sponsored enterprises’ (GSE) credit risk transfer (CRT) programs. These tables also highlight some of the key components…
NEW YORK: Persado, the leading AI-platform that unlocks the value of the right words at every customer interaction, announced it has signed a long-term agreement with Mr. Cooper, the nation’s largest non-bank mortgage servicer, to help customers uncover more cost-effective options when managing their finances. Based on early testing, Persado’s multi-channel engagement delivered a 74%…
FAIRMONT: MVB Mortgage and Intercoastal Mortgage have become one of the largest independently owned residential mortgage lending operations in the Mid-Atlantic Region: Intercoastal Mortgage, LLC (ICM). MVB Financial Corp. and its wholly-owned subsidiary MVB Bank announced that the Bank’s subsidiary Potomac Mortgage Group has completed a combination with Intercoastal Mortgage Company, a Van Metre Company….
OLDWICK: According to insurance sector rating agency AM Best, the U.S. life/annuity (L/A) insurance companies continued to increase their exposures to commercial mortgage loans in 2019 and now hold more than $522 billion, up significantly from $382 billion in 2015. The Best’s Special Report, titled, “Commercial Mortgage Loans Increasing, Credit Quality Decreasing,” notes that U.S….
LONDON: The Financial Conduct Authority (FCA) has confirmed the support firms should give to mortgage customers who are either coming to the end of a payment holiday or who are yet to request one. The FCA is also reminding customers that if they can afford to resume payments, they should. For customers still experiencing temporary…
OLDWICK: AM Best has affirmed the financial strength rating of A- (Excellent) and the Long-Term Issuer Credit Ratings of “a-” of certain operating subsidiaries of MGIC Investment Corporation, which are Mortgage Guaranty Insurance Corporation, MGIC Indemnity Corporation, MGIC Assurance Corporation and MGIC Reinsurance Corporation of Wisconsin. The outlook of these Credit Ratings is stable. The…