The Mortgage Bankers Association, along with a number of other trade groups, sent a letter to FHA on its November 2024 proposal on loss mitigation updates to its Servicing Handbook.
Category: News and Trends
First American’s Odeta Kushi: Signs of a Nascent Housing Market Recovery Emerge
While the mortgage rate lock-in effect will prevent a full recovery, the journey back to a normal housing market should accelerate in 2025. You can’t buy what’s not for sale – but the shelves are starting to be restocked.
MBA Offices Closed December 25-January 1
This is the final issue of MBA NewsLink for 2024.
MBA Advocacy Update: Congress Passes Stopgap Funding Bill; NFIP Also Extended Until March
The U.S. House and Senate on Friday night passed a Continuing Resolution that averts a government shutdown and extends Fiscal Year 2024 funding levels through March 14, 2025. President Biden signed the measure Saturday.
Quote of the Day
“MBA applauds the Senate for passing legislation we championed to stop the abusive use of mortgage trigger leads while preserving their use in appropriately limited circumstances during a real estate transaction.”
–MBA President and CEO Bob Broeksmit, CMB
MBA Chart of the Week: Annual Origination Dollar Volume
At its December meeting, the FOMC cut their rate target by another 25 basis points as the market had anticipated.
Freddie Mac Apartment Investment Market Index Up 9.2% YoY
Freddie Mac reported its Apartment Investment Market Index rose nationwide by 5.3% quarter-over-quarter and 9.2% year-over-year, continuing an upward trend.
Industry Briefs, December 24, 2024
Industry news from KBRA, Dovenmuehle and A&D Mortgage.
MBA: Mortgage Application Payments Increased 0.3% to $2,133 in November
Homebuyer affordability declined in November, with the national median payment applied for by purchase applicants increasing to $2,133 from $2,127 from October.
Planet Loan Servicing’s Patrick Couture: Independent Servicing Matters in Residential Transition Loans
In the world of Residential Transition Loans (RTLs), where short-term, high-risk loans are used to finance “fix-and-flip” projects, effective servicing can enhance investors’ returns.