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Volume 23 Issue 120

Friday, June 21, 2024

ACES: Critical Defect Rate Decreased Again in Q4 2023

ACES Quality Management, Denver, released its Mortgage QC Industry Trends report for the fourth quarter of 2023, finding that the critical defect rate decreased to 1.53%.

State of the Nation’s Housing Report: Costs Strain Owners and Renters Alike

Both homeowners and renters are struggling with high housing costs, the Harvard Joint Center for Housing Studies reported.

Home Flipping Up in Q1, ATTOM Reports

ATTOM, Irvine, Calif., released its first-quarter 2024 U.S. Home Flipping Report, finding that 67,817 single-family homes and condos were flipped in the quarter. That’s 8.7% of all home sales nationwide during the period.

MBA VIDEOS

mPower Moments: On the Power of Collaboration with HomeFree USA’s Marcia Griffin

mPower Moments: On the Power of Collaboration with HomeFree USA’s Marcia Griffin

MBA Research Minute

MBA Research Minute

MBA Eye on Washington

MBA Eye on Washington

MBANow: DEI Update with Amber Lawrence

MBANow: DEI Update with Amber Lawrence

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TOP NATIONAL NEWS

Mortgage Rates Fall to Their Lowest Level in Almost Three Months
Worries Pile Up for the U.S. Housing Market
Housing Starts Dropped 19.3% in May as Builder Confidence Continues to Slide
U.S. Labor Market, Housing Data Point to Slowing Economy
Are Housing Permits Showing Recession Risk?
GSE MBS Issuance Increases in May, Led by Freddie
Fannie Mae, Freddie LTV Gap in Nonperforming Loans Shrinks

MBA NEWS

Fundamentals of Loss Mitigation for Residential Servicers: June 25
MBA Single-Family Research Showcase Wraps Up Today

Quote: June 21, 2024

"Building on the improvements from late 2022, lenders improved loan quality in both Q4 2023 and for the year overall." --Nick Volpe, Executive Vice President of ACES Quality Management

MBA Thanks Princess Mackie Book Challenge Participants

MBA launched the Princess Mackie Book Challenge to promote financial education and develop new tools and resources to help children and their families learn more about homeownership. This week, MBA would like to highlight Taylor Morrison Home Funding and McCalla Raymer Leibert Pierce LLC for participating in this initiative.

June 20, 2024

High Mortgage Rates Weigh Down Builder Confidence

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Mortgage rates in the 7% range and elevated construction financing costs continue to damp builder sentiment, the National Association of Home Builders/Wells Fargo Housing Market Index reported.

June 20, 2024

Incenter Diligence Solutions’ Pamela Hamrick–Non-QM: To QC or Not to QC?

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Late last summer, Fannie Mae’s pre-funding quality control review requirements for agency loans caught the attention of an unexpected mortgage industry segment: Non-QM/Non-Agency loan originators. MBA NewsLink asked Pamela Hamrick, President of Incenter Diligence Solutions, to explain.

June 20, 2024

Odeta Kushi from First American: Twin Market Dynamics Continue to Stifle Existing-Home Sales

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The housing market is struggling to gain momentum with mortgage rates above their levels from a year ago. Higher rates have a dual impact on sales – pricing out buyers who lose purchasing power and keeping some potential sellers rate-locked in.

June 20, 2024

CBRE: Half of U.S. Hotel Investors Plan to Buy More This Year

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CBRE, Dallas, reported that investors have generally positive sentiment about the hotel market this year.

June 20, 2024

Mortgage Applications Increase in Latest MBA Weekly Survey

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Mortgage applications increased 0.9% from one week earlier, according to data from the Mortgage Bankers Association’s Weekly Applications Survey for the week ending June 14, 2024.

June 20, 2024

MBA Opens Doors Foundation Raises $220,000 During MBA’s Chairman’s Conference

The MBA Opens Doors Foundation announced that it raised $220,000 at its Annual Charity Wine Auction during MBA’s Chairman’s Conference in Santa Barbara, Calif.

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