ATTOM Data Solutions, Irvine, Calif., released its quarterly U.S. Foreclosure Market Report, which showed 156,253 U.S. properties with a foreclosure filing during the first quarter, up 42 percent from the previous quarter but down 3 percent from a year ago.
Category: News and Trends
Home Builder Confidence Suffers Historic Drop
The economic effects of the coronavirus clobbered the home building industry this month, with the National Association of Home Builders reporting its Housing Market Index plunged a record 42 points to its lowest reading in nearly eight years.
FHFA, CFPB Announce Borrower Protection Program
The Federal Housing Finance Agency and the Consumer Financial Protection Bureau announced the Borrower Protection Program, a joint initiative that enables CFPB and FHFA to share servicing information to protect borrowers during the coronavirus national emergency.
Federal Agencies Allow Member Banks to Postpone Appraisals for 120 Days
Three federal agencies this week announced a rule change allowing its member banks to postpone an appraisal on a residential or commercial property for 120 days after the loan is closed.
Regina M. Lowrie, CMB, of Dytrix on How Lenders Can Protect Against Cyberfraud
Regina M. Lowrie, CMB, is President and CEO of Dytrix, a fintech company that enables secure financial transactions for institutions through the Dytrix Platform, which includes wire/ACH transfer validation and closing agent management.
Jennifer Henry: In an Uncertain Market, Servicers Are Leveraging Data, Technology to Drive Efficiency
While the falling home loan rates mean a booming business for the mortgage industry and a sign the housing market may help the U.S. economy avoid a true recession, it could also pose a challenge for those trying to process the influx of applications and requests. The digital mortgage servicing journey must focus on streamlining the process through technology and data-enabled solutions.
Remote Online Notarization: Steps Lenders Can Take During Coronavirus Pandemic
Due to limited opportunities for face-to-face interactions, the ability to use remote online notarization to complete financial transactions has become a major priority for the real estate finance industry. RON uses two-way audio-visual technology to complete a notarial act when the principal is not in the same physical location as the notary public.
Mortgage Applications Up as Interest Rates Hit Record Low in MBA Weekly Survey
Mortgage applications increased from one week earlier as the 30-year fixed interest rate fell to the lowest level in survey history, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending April 10.
MBA: 2019 Commercial/Multifamily Originations Reach Record $600.6 Billion
Commercial and multifamily mortgage bankers closed a record $600.6 billion of loans in 2019, according to the Mortgage Bankers Association’s 2019 Commercial Real Estate/Multifamily Finance Annual Origination Volume Summation.
Mortgage Applications Up as Interest Rates Hit Record Low in MBA Weekly Survey
Mortgage applications increased from one week earlier as the 30-year fixed interest rate fell to the lowest level in survey history, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending April 10.