Black Knight, Jacksonville, Fla., said mortgage rate lock activity fell for the second consecutive month in July, dropping 7% overall.
Category: News and Trends
TransUnion: Mortgage Balances Remain Near Record Highs; More Consumers Turn to Home Equity Loans
TransUnion, Chicago, said total mortgage balances fell to $11.7 trillion in the second quarter, down slightly from last quarter’s record high but up 4.3% year-over-year.
MBA: Mortgage Delinquencies Decrease in Second Quarter
The delinquency rate for mortgage loans on one-to-four-unit residential properties decreased to a seasonally adjusted rate of 3.37 percent of all loans outstanding at the end of the second quarter, according to the Mortgage Bankers Association’s National Delinquency Survey.
Foreclosure Starts Down in July, but Repossessions Increase, ATTOM Finds
ATTOM, Irvine, Calif., found in its July 2023 U.S. Foreclosure Market Report that foreclosure starts are down 12% from June and down 2% from a year ago.
Cenlar’s Sara Avery: Building an Effective Risk-Aware Culture
An organization is run by its people. Managing risk is a key factor to strategic business planning and success. So the saying that everyone is a risk manager may sound cliché and simple, but it’s absolute. How to effectively manage risk and build out a risk infrastructure has evolved dramatically through the years.
Redfin: Typical Monthly Payment Up Nearly 20% From Last Year
Redfin, Seattle, found the typical U.S. homebuyer’s monthly payment is up 19% from a year ago, at $2,605, during the four weeks ending July 30.
Homeowner Housing Vacancy Rate Dips YoY; Rental Vacancy Rate Increases
The Census Bureau, Washington, D.C., said the homeowner vacancy rate fell slightly in the second quarter compared to a year ago while the rental vacancy rate increased.
Uncertainty, Financial Challenges Driving Down Satisfaction with Mortgage Servicers
With mortgage rates at their highest level since November 2022 and costs for everything from home insurance to maintenance still elevated, mortgage servicer customers are feeling strained, reported J.D. Power, Troy, Mich.
MISMO Seeks Public Comment on Tools Aimed at Enhancing Business Efficiency
MISMO, the real estate finance industry’s standards organization, announced that it is seeking public comments on the latest version of the MISMO Life of Loan Process Model, and an updated version of the MISMO Business Glossary.
Tavant’s Mohammad Rashid and Equifax Workforce Solutions’ Chad Whittenberg Discuss Technological Advances
MBA NewsLink interviewed Mohammad Rashid, Senior Vice President and Head of Fintech Innovation with Tavant, and Chad Whittenberg, Vice President of Strategy, Product and Marketing with Equifax Workforce Solutions, about how technological advances have completely changed how mortgage lenders conduct business.