MBA Advocacy Update Apr. 3, 2023
On Wednesday, the Federal Housing Finance Agency announced that Fannie Mae and Freddie Mac will allow borrowers facing financial hardship to defer up to six months of mortgage payments.
CoreLogic: ‘Convective’ Storms Cause $17 Billion in Annual Losses
A report from CoreLogic, Irvine, Calif., said severe convective storms in the U.S. in 2022 accounted for an average annual loss of more than $17 billion among insured. Of those losses, hail damage accounts for more than $11 billion.
Moody’s: CMBS Loss Severities Drop
Moody’s, New York, reported U.S. commercial mortgage-backed securities had the lowest loss amount last year since 2009, but noted loss severities remained elevated.
MBA Chart of the Week Mar. 31, 2023: Housing Cost Burden Rates by Income Level
In this week’s MBA Chart of the Week, we look at housing cost ratios by household income level, using data from the 2021 American Housing Survey.
Town Hall with MBA Leadership Apr. 3
Please join the Mortgage Bankers Association for the next Town Hall with MBA Leadership this Monday, April 3, from 3:00-4:00 p.m. ET.
