TITLE

Retention Emphasis May Sour Refis

AUTHOR(S)
Cornwell, Ted
PUB. DATE
April 2008
SOURCE
Mortgage Servicing News;Apr2008, Vol. 12 Issue 3, p8
SOURCE TYPE
Periodical
DOC. TYPE
Article
ABSTRACT
The article focuses on the move of mortgage servicers to address the slowing prepayment speeds in the U.S. It cites that the mortgage industry has helped troubled borrowers by refinancing them and providing adjustable-rate products into fixed-loans. The Mortgage Bankers Association of America (MBAA) survey shows that the refinancing activity exceeds half of all loans applications and the average contract rate on mortgage applications has declined to 5.98% for 31-year, fixed rate loans.
ACCESSION #
31433295

 

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