Northwestern Mutual, Milwaukee, Wis., released its latest planning and progress study, finding that among Americans who are not currently homeowners, 53% say owning a home will never be financially affordable.
Category: News and Trends
Commercial, Multifamily Mortgage Debt Outstanding Increased in Fourth Quarter
The level of commercial and multifamily mortgage debt outstanding at the end of 2024 was $172 billion higher than at the end of 2023, MBA reported.
MBA: Share of Mortgage Loans in Forbearance Decreases Slightly to 0.38% in February
MBA’s monthly Loan Monitoring Survey revealed that the total number of loans now in forbearance decreased by 2 basis points from 0.40% of servicers’ portfolio volume in the prior month to 0.38% as of Feb. 28, 2025.
Quote of the Day
“Despite February’s monthly decline of loans in forbearance, the estimated number of forbearances and loan workouts increased compared to one year ago.”
–MBA’s Vice President of Industry Analysis Marina Walsh, CMB
IMBs Report Production Losses in Fourth Quarter of 2024
Independent mortgage banks and mortgage subsidiaries of chartered banks reported a pre-tax net loss of $40 on each loan they originated in the fourth quarter, a decrease from the reported net profit of $701 per loan in the third quarter, MBA’s Quarterly Mortgage Bankers Performance Report found.
Chart of the Week: IMB Pre-Tax Net Production Income
Independent mortgage banks and mortgage subsidiaries of chartered banks reported a pre-tax net loss of 4 basis points in the fourth quarter, a decrease from the net profit of 18 basis points in the third quarter, MBA’s Quarterly Mortgage Bankers Performance Report found.
Advocacy Update: Congress Passes Funding Bill Through September; NFIP Also Extended
This week’s top legislative and policy news from the Mortgage Bankers Association.
ServiceLink: Gen Z Is Primed to Buy, But Tolerance for High Costs is Waning
A new report from ServiceLink, Pittsburgh, found that Gen Z remains eager to buy a home. But high interest rates and home prices could deter them from crossing the finish line as their tolerance is waning.
Industry Briefs, March 18, 2025
Industry news from Floify, Snapdocs, Vice Capital Markets, Imperial Fund Asset Management, A&D Mortgage, Clearwater Analytics Team, Talk’uments and Blend.
Dealmaker: Marcus & Millichap’s Levin Johnston Closes $13M Sale in California
Levin Johnston, a part of Marcus & Millichap, Calabasas, Calif., closed the sale of a retail building in Berkeley, Calif., for $12.7 million.