Bankrate.com, Sept. 14, 2020–Jeff OstrowskiWhy are so many homeowners still locked into above-market rates? “The same reason people don’t go to the dentist regularly even though they should – it’s …
Category: Top National News
Eviction Filings by Big Landlords Surged After Trump Issued Ban
Bloomberg, Sept. 14, 2020–PAtrick Clark, Prashant GopalBig landlords increased the number of eviction cases they filed after President Donald Trump announced his recent moratorium, signaling the struggle tenants face getting …
Servicers Intensify Retention Efforts as Rate of Success Declines
National Mortgage News, Sept. 14, 2020–Brad Finkelstein (subscription)Only 18% of refinance borrowers returned to the same lender in the second quarter, the second lowest rate since 2005, said Black Knight.https://www.nationalmortgagenews.com/news/servicers-intensify-retention-efforts-as-the-rate-of-success-declines
Regulators Prepare to Reprimand Citigroup for Failing to Improve Risk Systems
Wall Street Journal, Sept. 14, 2020–David Benoit, Ben Eisen (subscription)Federal regulators are preparing to reprimand Citigroup Inc. for failing to improve its risk-management systems—an expansive set of technology and procedures …
CMBS Delinquency Rate Down in August, But Ominous Conditions Remain
Asset Securitization Report, Sept. 10, 2020–Brad FinkelsteinFor the first time since the pandemic began, delinquencies among loans included in commercial mortgage-backed securities declined on a month-to-month basis, according to Fitch …
Broeksmit Talks Adverse Market Fee, Non-QM’s Future And More
National Mortgage Professional magazine, Sept. 10, 2020–Navi PersaudWednesday’s Mortgage Leadership Outlook episode featured MBA President and CEO Robert Broeksmit, CMB. He discussed the FHFA-MBA relationship, the adverse market fee and …
Did You See the Low Interest Rates? Mortgage Industry Booms as Home Sales, Refinances Skyrocket
Pittsburgh Post-Gazette, Sept. 9, 2020–Tim GrantThe mortgage industry was hot even before the COVID-19 pandemic hit in March. But in recent months, homeowners have been in a mad rush to …
Share of Ginnie Mae Mortgages in Forbearance Increased Again
MortgageOrb, Sept. 9, 2020–Michael BatesThe share of mortgages in COVID-19-related forbearance plans continued to fall last week, driven by an eight-basis-point drop in the share of Fannie Mae and Freddie …
Purchase Market Remains Resilient as Mortgage Applications Gain 2.9%
HousingWire, Sept. 8, 2020–Alex RohaLast week’s drop in rates spurred a rebound in refinance activity.https://www.housingwire.com/articles/purchase-market-remains-resilient-as-mortgage-applications-gain-2-9/
Mortgage Refinances Are Up Over 200% From Last Year. Should You Hop on the Bandwagon?
Nasdaq.com, Sept. 9, 2020–Maurie BackmanIt’s not surprising that refinance is up more than 60% from the first quarter and more than 200% from the same time last year, according to …