Coming off a near-record low in May–and with June ending on a Sunday–the national delinquency rate increased to 3.49%, its second-highest level in 18 months, according to Intercontinental Exchange.
Category: News and Trends
CloudVirga CEO Maria Moskver Talks AI in the Mortgage Industry–An MBA Newslink Q&A
MBA Newslink recently interviewed Maria Moskver, CEO of CloudVirga, Irvine, Calif., about a new whitepaper she worked on regarding Artificial Intelligence in the mortgage industry.
DocMagic Founder, CEO Dominic Iannitti Passes Away
Dominic Iannitti, Founder and CEO of DocMagic, Torrance, Calif., passed away July 18 due to complications from pneumonia.
Quote: July 24, 2024
“Purchase applications decreased as ongoing affordability challenges persist with rates at their current levels and with home-price appreciation still strong in many markets.”
–Joel Kan, MBA’s Vice President and Deputy Chief Economist
A Refi Wave Won’t Save Every Lender–STRATMOR Group’s Garth Graham
Over the past year, I’ve talked with many lenders who believe that as soon as the next wave of refinances hits the business, all their problems will go away. But that isn’t guaranteed.
Industry Briefs, July 24, 2024
Industry news from the Conference of State Bank Supervisors, Down Payment Resource, Calque, EMM, Greenwoods Financial Group, A&D Mortgage and Ginnie Mae.
MBA: Share of Mortgage Loans in Forbearance Increases to 0.23% in June
The Mortgage Bankers Association’s monthly Loan Monitoring Survey revealed that the total number of loans now in forbearance increased to 0.23% as of June 30, 2024
FundingShield Finds Fraud Risk Still High in Q2
FundingShield, Newport Beach, Calif., released its second-quarter report, finding that 47.08% of transactions in a $74 billion portfolio including residential, commercial and business purpose loans presented some risk.
Chris Mock & Rob Chrane: Improving Affordability Despite an Uncertain Mortgage Environment
While financial institutions face the challenge of increasing originations and balancing the risk associated with loan affordability, a data-driven approach can help lenders expand the pool of potential borrowers.
FundingShield: Fraud Risk Still High in Q2
FundingShield, Newport Beach, Calif., released its second-quarter report, finding that 47.08% of transactions in a $74 billion portfolio including residential, commercial and business purpose loans presented some risk.