The commercial mortgage-backed securities delinquency rate dipped in November, largely due to continued Coronavirus debt relief, said Fitch Ratings, New York.
Category: News and Trends
Greg Holmes of Credit Plus on COVID Challenges
Greg Holmes is Managing Partner with Credit Plus Inc., Salisbury, Md., a third-party verifications company serving the mortgage industry.
Industry Briefs Dec. 9, 2020
SimpleNexus, Lehi, Utah, announced a two-way integration with Unify’s Business Growth Platform that streamlines the loan application process to improve efficiency and help mortgage lenders reduce application abandonment.
CoreLogic: Serious Delinquencies Level Off in ‘Positive Signal’
CoreLogic, Irvine, Calif., said its monthly Loan Performance Insights Report for September showed a leveling off of serious loan delinquencies, a “positive signal” that the housing finance industry is thus far adjusting to the pandemic-induced economic downturn.
MISMO Statement on FSOC Recommendation on Adoption/Use of Industry Data Standards
Seth Appleton, President of MISMO®, issued the following statement in support of the Financial Stability Oversight Council’s annual report recommendation (https://home.treasury.gov/system/files/261/FSOC2020AnnualReport.pdf) that the industry adopt and use industry data standards:
Dealmaker: Grandbridge Provides $114M for Office, Multifamily
Grandbridge Real Estate Capital, Charlotte, N.C., arranged $113.5 million for office and apartment properties in Minnesota and Virginia.
Refis Up, Purchases Down in MBA Weekly Survey as Rates Hit New Low
With mortgage interest rates falling yet again to record lows, homeowners took advantage to refinance; purchase buyers, not so much, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending December 4.
Mortgage Credit Availability at 4-Month High
Mortgage credit availability increased in November to its highest level since July, the Mortgage Bankers Association reported this morning.
Quote
“Refinance activity increased last week in response to mortgage rates for 30-year, 15-year and FHA loans hitting their lowest levels in MBA’s survey…the ongoing refinance wave has continued through the fall, with activity last week up 89 percent from a year ago.”
–Joel Kan, MBA Associate Vice President of Economic and Industry Forecasting.
MBA: Share of Loans in Forbearance Flat at 5.54%
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans now in forbearance remained unchanged from the prior week at 5.54% as of November 29. MBA estimates 2.8 million homeowners are in forbearance plans.