A total of 4,290 companies reported lending activity under the Home Mortgage Disclosure Act (HMDA) in 2022, according to MBA’s analyses of the dataset.
Category: News and Trends
CoreLogic: Mortgage Delinquency Rate at Record Low in May
CoreLogic, Irvine, Calif., reported in May just 2.6% of all mortgages in the U.S. were in some stage of delinquency, matching the all-time low.
Banking Agencies Issue MBA-Opposed Proposed Changes to Bank Capital Requirements
The Federal Reserve, Federal Deposit Insurance Corporation, and Office of the Comptroller of the Currency on Thursday issued interagency proposed changes to capital requirements for banks with assets of $100 billion or more. The so-called “end game” proposed rules complete U.S. regulators’ implementation of the Basel III standards and make changes in response to the recent large bank failures. MBA strongly opposes certain provisions of the proposal.
Quote: July 31, 2023
“May’s overall mortgage delinquency rate matched the all-time low, and serious delinquencies followed suit. Furthermore, the rate of mortgages that were six months or more past due, a measure that ballooned in 2021, has receded to a level last observed in March 2020.”
–Molly Boesel, Principal Economist at CoreLogic.
Pending Home Sales Tick Upward
Pending home sales registered a modest increase of 0.3% in June–the first increase since February–the National Association of Realtors reported Thursday.
FundingShield Finds Wire, Title Fraud Big Risk in Q2
FundingShield, Newport Beach, Calif., reported wire and title fraud concerns persist at high levels so far this year, finding 50.2% of loans on a $68 billion portfolio in the second quarter had at least one risk issue.
LenderLogix CEO Patrick O’Brien: Driving Down the Cost to Originate Requires Smarter Investments in Tech
Imagine expecting your favorite college football team to win a national championship with a roster comprised of only 4% scholarship players and 96% walk-ons. The scholarship investment isn’t equal to the expected outcome. The same can be said for the mortgage industry’s attitude toward technology, especially when it comes to lowering the cost to originate.
Homeowner Equity Improves in Second Quarter
ATTOM, Irvine, Calif., reported nearly half–49%–of mortgaged residential properties in the United States were considered equity-rich in the second quarter, up from 47% in early 2023.
New Home Sales Down From May, but Up From Last Year
Sales of new single-family homes in June hit a seasonally adjusted annual rate of 697,000, according to estimates jointly released by the U.S. Census Bureau and HUD.
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