MBA: 4th Quarter Delinquencies See Decline from 3Q, Up from Year Ago; Foreclosure Inventory at Near 40-Year Low
The Mortgage Bankers Association’s 4th Quarter National Delinquency Survey reported the delinquency rate for mortgage loans fell by 92 basis points from the third quarter to 6.73 percent, seasonally adjusted. From a year ago, however, mortgage delinquencies increased across the board.
The Mortgage Bankers Association awarded more than $165,000 in scholarships to 192 women and minorities through its Path to Diversity (P2D) Scholarship Program during fiscal year 2020.
Initial claims for unemployment insurance fell last week, the Labor Department reported, but an upward revision to the previous week’s results negated any progress toward a normalizing economy.
The multifamily sector is performing better than anticipated during the pandemic, increasing optimism for the future among mortgage bankers and investment sales advisors, reported Berkadia, New York.