ATTOM, Irvine, Calif., reported September foreclosure activity rose by 3 percent in the third quarter and by 104 percent from a year ago.
Category: News and Trends
September Producer Price Index Up 0.4%
The Producer Price Index, a key measure of wholesale inflation, rose by 0.4 percent in September after falling in August and July, the Bureau of Labor Statistics reported on Wednesday.
Industry Briefs Oct. 13, 2022: Constellation Mortgage Solutions, Lender Price Announce Partnership
Constellation Mortgage Solutions, a provider of enterprise mortgage loan origination and servicing software systems, announced a partnership with Lender Price, a provider of mortgage product and pricing engines.
Dealmaker: Walker & Dunlop Structures $115M Denver Multifamily Sale
Walker & Dunlop, Bethesda, Md., structured a $115 million sale for Denver apartment community 360 Degrees.
MBA Weekly Survey Oct. 12, 2022: Rising Rates Drive Push Applications to Another 25-Year Low
Mortgage interest rates rose to their highest level since 2006, pushing mortgage application activity to their lowest level in 25 years, the Mortgage Bankers Association reported Wednesday in its Weekly Mortgage Applications Survey for the week ending October 7.
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“Nearly three times more homes were repossessed by lenders in the second quarter of 2019 than in the second quarter of 2022. We believe that this may be an indication that borrowers are leveraging their equity and selling their homes rather than risking the loss of their equity in a foreclosure auction.”
–Rick Sharga, executive vice president of market intelligence with ATTOM, Irvine, Calif.
Jeremy Yohe of ALTA: Alternatives to Title Insurance Increase Lender Risk
Attorney opinions, in providing more limited coverage of title risks, represent a shifting of risk to the lender because they are responsible for representations and warranties for the life of the loan that pertain to clear title and first-lien enforceability.
Voting for 2023 MBA Officers, New & Returning Directors Underway; Deadline Oct. 14
The voting period for election of the Mortgage Bankers Association’s FY 2023 officers and new and returning directors is underway. Voting ends at 5:00 p.m. ET on Friday, Oct. 14.
Call for Speakers: MBA Servicing Solutions Conference & Expo: Deadline Oct. 14
Speaking opportunities for breakout sessions continue to be accepted for The Mortgage Bankers Association’s Servicing Solutions Conference & Expo 2023, taking place February 21–24 at Hyatt Regency Orlando.
Shelley Leonard and James Owens, CMT, of Xactus on Trends in Mortgage Technology
Shelley Leonard is President of Xactus, Broomall, Pa., a provider of verification for the mortgage industry, and is also a member of the Board of Directors. James Owens is Chief Technology Officer with Xactus.