In its “first look” release of June mortgage performance statistics, Black Knight, Jacksonville, Fla., found that seriously delinquent mortgages hit the lowest level in more than 15 years.
Category: News and Trends
MBA: Share of Mortgage Loans in Forbearance Decreases to 0.44% in June
The Mortgage Bankers Association’s monthly Loan Monitoring Survey revealed the total number of loans now in forbearance decreased by 5 basis points to 0.44% of servicers’ portfolio volume as of June 30, 2023.
Quote Tuesday, July 25, 2023
“The consequences of climate change haven’t fully sunk in for many Americans because oftentimes, homeowners and renters don’t foot the whole bill when disaster strikes. Insurers and government programs frequently subsidize the cost of rebuilding after storms hit, and mortgages mean homeowners are ceding some risk to lenders—especially if their house goes into foreclosure after a storm.”
–Redfin Chief Economist Daryl Fairweather
MBA: Commercial, Multifamily Mortgage Delinquency Rates Increase Slightly
Delinquency rates for mortgages backed by commercial and multifamily properties increased slightly during the second quarter, the Mortgage Bankers Association’s latest commercial real estate finance Loan Performance Survey reported.
MBA: Share of Mortgage Loans in Forbearance Decreases to 0.44% in June
The Mortgage Bankers Association’s monthly Loan Monitoring Survey revealed the total number of loans now in forbearance decreased by 5 basis points to 0.44% of servicers’ portfolio volume as of June 30, 2023.
MISMO Releases Latest Version of the MISMO Life of Loan Process Model
MISMO®, the real estate finance industry’s standards organization, announced the final release of the latest version of the MISMO Life of Loan Process Model.
Large Banks Performed Well in Fed Stress Test: S&P Global Ratings
Share buybacks by large banks will likely remain subdued this year despite “encouraging” results from the Federal Reserve’s latest stress test, S&P Global Ratings said in a non-rating action titled “Banks Held Up Well In The Fed’s Stress Test, But They Likely Won’t Ramp Up Share Buybacks.”
MBA Opens Doors Foundation Raises Nearly $235,000 During MBA’s Chairman’s Conference
The MBA Opens Doors Foundation announced it raised $234,536 at its Annual Charity Wine Auction held during MBA’s June Chairman’s Conference in Manalapan, Fla.
Foreclosure Activity Increases
ATTOM, Irvine, Calif., found a total of 185,580 U.S. properties with foreclosure filings–default notices, scheduled auctions or bank repossessions–between January and June, up 13% from a year ago.
Fitch: Office Property Performance to Worsen Amid Rising Market Pressures
Office loan performance will likely continue to weaken as market pressures build, reported Fitch Ratings, New York.