Loans in forbearance fell to another pre-pandemic low to just barely above 1%, the Mortgage Bankers Association reported Monday.
Category: News and Trends
MBA Home For All Pledge Partner: FHLBank San Francisco
FHLBank San Francisco is a member-driven cooperative helping local lenders in Arizona, California and Nevada build strong communities, create opportunity and change lives for the better.
Trepp: Bank CRE Originations Up in Late 2021
Trepp, New York, reported bank commercial real estate originations rebounded in late 2021 while delinquencies continued to trend down after a moderate rise in 2020.
Critical Defect Rate Down 18%
ACES Quality Management, Denver, said mortgage lenders managed loan origination quality “extremely well” in the third quarter, leading to an 18% improvement in overall credit defect rates.
Builder Confidence Reaches Inflection Point
Rapidly rising interest rates, combined with ongoing home price increases and higher construction costs, continue to take a toll on builder confidence and housing affordability, the National Association of Home Builders reported Monday.
Study: Inclusionary Housing Policies Deliver More Affordable Homes
A study by a Mortgage Bankers Association-supported member network suggests an optimal mix of incentives and requirements could help policymakers avoid polarizing private sector and community stakeholder groups while working toward the goal of increasing affordable housing production.
Dealmaker: Hilco Real Estate Closes $27M in Hotel Transactions
Hilco Real Estate LLC, Northbrook, Ill., brokered hotel sales in Alabama and Tennessee totaling $27 million.
Doug Wilber of Denim Social: In Tough Market, Mortgage Lenders Must Compete on Social Media
Mortgage loan officers can no longer rely on bargain rates and that means they need to work harder than ever to best the competition. So how does a loan officer stand out? It’s all about social media.
Industry Briefs Apr. 19, 2022: Wells Fargo Expands Efforts to Advance Racial Equity in Homeownership
Wells Fargo, San Francisco, announced an initiative to help advance racial equity in homeownership. The company will develop a Special Purpose Credit Program to help minority homeowners, whose mortgages are currently serviced by Wells Fargo, refinance those mortgages. Initially, through the program, Wells Fargo will identify eligible Black homeowners who could benefit from a refinance product.
Quote
“March was another month of lower forbearance rates and a higher share of overall loans and forbearance-related workout loans that are current. The share of loans in forbearance continues to dwindle and is just 5 basis points shy of hitting 1 percent — or 500,000 homeowners — after peaking at 4.3 million borrowers in June 2020. It has been a remarkable recovery for many homeowners in less than two years.”
–Marina Walsh, CMB, MBA Vice President of Industry Analysis.