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The top 10 states initiated 62 percent of all HELM activity last year, with a total of 8,127 HECMs made nationwide in 2001. It then rises irregularly over the subsequent decade as tax provisions phase in and out. The boom in refinancings means First Federal probably will set a new record in 2002 for annual loan volume for one- to four-family homes. Although rates have climbed back, hovering around 6.
The market, therefore, places at a disadvantage issuers that are required by law to set aside the full 20 percent of funds for targeted areas, namely those with many qualified census tracts. Read More Understanding Your Mortgage We make it easy for you to find just the right home loan for your needs, no matter what your credit history, current home loan amount, or mortgage goals. News items 2007-04-10 American Home mortgage Sinks on Lower Outlook NEW YORK Reuters - American Home Mortgage Investment Corp.
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