The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans now in forbearance decreased by 26 basis points to 3.50% of servicers’ portfolio volume as of July 11–the twentieth consecutive weekly decline.
Category: News and Trends
Quote
“Another month of rising housing inventory gives buyers some additional options and a little more bargaining power. While the level of inventory remains incredibly low by historic norms, it is now on a trajectory that should give buyers reason to hope for a cooldown in price growth this winter, consistent with normal seasonal trends.”
–Jeff Tucker, Senior Economist at Zillow.
Murali Tirupati: How Mortgage Servicers Can Improve Operations with an ‘Automation-First’ Strategy
Mortgage servicers are under tremendous pressure to not just onboard loan files faster but do so in compliance with regulatory requirements of CFPB.
MBA DEI Leadership Awards: Nomination Deadline Aug. 13
Inspire change; share success. The Mortgage Bankers Association recognizes residential and commercial/multifamily members who show leadership in the areas of Diversity, Equity and Inclusion (DEI) internally through market outreach efforts with its annual DEI Leadership Awards.
Domino Effect: Single-Family Rent Growth Rate Spikes in May as Housing Economy Challenges Persist
CoreLogic, Irvine, Calif., said single-family rent growth reached 6.6% year-over-year in May, up from a 1.7% year-over-year increase in January 2020.
Dealmaker: The Boulder Group Arranges $50M in Net Leased Property Sales
Net-lease investment brokerage firm The Boulder Group, Wilmette, Ill., closed nearly $50 million in property sales in Illinois and Ohio.
Builder Confidence Edges Lower as Material Challenges Persist
Strong buyer demand partially offset building material supply-side challenges, regulation and labor as builder confidence in the market for newly built single-family homes inched down one point to 80 in July, the National Association of Home Builders/Wells Fargo Housing Market Index reported.
Share of Mortgage Loans in Forbearance Decreases to 3.50%
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans now in forbearance decreased by 26 basis points to 3.50% of servicers’ portfolio volume as of July 11–the twentieth consecutive weekly decline.
June New Home Purchase Mortgage Applications Decreased 23.8% Y-o-Y
Mortgage applications for new home purchases decreased 23.8 percent compared to a year ago, the Mortgage Bankers Association’s Builder Application Survey data said.
MBA Weekly Applications Survey July 21, 2021: Apps Decrease
Mortgage applications decreased 4.0 percent from one week earlier, the Mortgage Bankers Association reported in its Weekly Applications Survey for the week ending July 16. The previous week’s results included an adjustment for the Fourth of July holiday.