MBA NewsLink interviewed Cornerstone Servicing President Toby Wells about technology advances that improve default servicing operations and borrower communications.
Category: News and Trends
Fitch: 2024 Outlook for Mortgage Insurers Revised to Neutral
Fitch Ratings, New York, has revised its 2024 sector outlook for U.S. mortgage insurers to neutral. Previously the outlook had it at deteriorating.
MBA Advocacy Update: VA Issues Voluntary Foreclosure Moratorium; SEC Conflicts of Interest Final Rule; FHA 203(k) Program Proposal
This week’s top legislative and policy news from the Mortgage Bankers Association.
KBRA: CMBS Delinquency Rate Ticks Upward
KBRA, New York, said the delinquency rate among KBRA-rated U.S. commercial mortgage-backed securities increased 19 basis points in November to 4.4%.
Quote: Dec. 4, 2023
“MBA is deeply concerned about the sharply rising costs of the tri-merge credit reports and other credit reporting products, some of which are required in order to originate a loan for sale to the GSEs and for government-insured loans. We have seen the media reports about price increases for the required ‘tri-merge’ credit report that will range from 25% to more than 400% beginning in 2024.”
–MBA President and CEO Bob Broeksmit, CMB
Monday, Dec. 4: MISMO’s Servicing eNotes 101-Getting Started
Join the MISMO eMortgage Community of Practice to learn about Servicing eNotes. In this webinar, speakers will provide a high-level overview of how Servicers and Subservicers fit into the eNote Lifecycle.
MBA Statement on the Veterans Affairs Voluntary Foreclosure Moratorium
MBA’s President and CEO Bob Broeksmit, CMB, released a statement on the Department of Veterans Affairs’ (VA) voluntary foreclosure moratorium.
Dealmaker: Merchants Capital Secures $17.4M in Equity Financing in Indiana
Merchants Capital, Carmel, Ind., secured $17.4 million in Low-Income Housing Tax Credit equity financing for the construction of an affordable senior property in Fort Wayne, Ind.
Quote: Dec. 1, 2023
“MBA and its members share the VA’s commitment to helping distressed Veteran borrowers stay in their homes through a more affordable and sustainable mortgage payment. We also believe that restoring the VA’s standalone partial claim program–which worked successfully for Veterans and servicers until it was sunset in October 2022–needs to be part of the VA’s long-term plans to assist borrowers facing hardships.”
–MBA President and CEO Bob Broeksmit, CMB, discussing the VA’s voluntary foreclosure moratorium
Harvard Report: Older Americans Face Significant Challenges in Housing, Care
The Harvard Joint Center for Housing Studies released its Housing America’s Older Adults 2023 report, warning that the U.S. will face issues housing and providing care to the aging population.