Fitch Ratings, New York, said servicers continue to work with struggling homeowners to avoid loan default, as early delinquencies remain flat and late stage delinquencies show positive movement.
Category: News and Trends
Dealmaker: Berkadia Completes $89M New Jersey Multifamily Sale
Berkadia Institutional Solutions, New York, sold Solo at North Bergen, a 214-unit new construction multifamily property in North Bergen, N.J.
Pending Home Sales Increase Again
Pending home sales increased 0.9% in July–the second consecutive increase–the National Association of Realtors reported Wednesday.
MBA Compliance and Risk Management Conference in DC Sept. 10-12
Compliance officers and inside and outside counsel will find the content they know and trust at the Mortgage Bankers Association’s Compliance and Risk Management Conference.
Quote: Sept. 1, 2023
“Home buyers and owners alike lined back up again at the doors of mortgage lenders this Spring seeking loans of all kinds.”
–Rob Barber, CEO at ATTOM
People in the News Sept. 1, 2023
People in the news from titleLOOK and Mobility Market Intelligence.
Real Estate Investors Buying 45% Fewer Homes Than Last Year, Redfin Finds
Redfin, Seattle, reported that the drop in home purchases by investors outpaced the second-quarter drop in overall home sales. Investor home purchases fell 45% from last year, compared with an overall market drop of 31%.
MISMO Publishes Servicing Transfer Catalog
MISMO, the real estate finance industry’s standards organization, announced the MISMO Servicing Transfer Catalog has reached “Candidate Recommendation” status, which means it has been thoroughly reviewed by a wide range of organizations and industry participants and is available for use across the industry.
Maddin Hauser’s Martin Frenkel & Brian Nettleingham: AI Adoption in Mortgage Industry Draws Increased Scrutiny, New Rulemaking From CFPB and Other Regulators
The rapid advancement of artificial intelligence technology is raising both hopes and eyebrows across government and industry. Where industry players see tremendous potential benefits in productivity, convenience, and innovation, regulators are equally concerned with the potential risks and dangers AI technology may pose to consumers.
Zillow: First-Time Home Buying Jumps to 50%
Zillow, Seattle, found in its 2023 Consumer Housing Trends Report that first-time buyers now make up 50% of all buyers, up from 45% in 2022 and 37% in 2021.