“Conditions continue to be challenging for the industry, with now four consecutive quarters of production losses and nine consecutive quarters of volume declines.”
–Marina Walsh, CMB, MBA Vice President of Industry Analysis.
Category: News and Trends
FHA Finalizes HECM Claims Processing Policies
The Federal Housing Administration on Wednesday announced new policies that will allow for faster payment of funds to mortgagees when they assign a Home Equity Conversion Mortgage (HECM), also known as a reverse mortgage, to HUD.
A Tale of Two Reports on Household Debt
WalletHub, Miami, reported this week that total household debt fell to $17.12 trillion in the first quarter as consumers paid down nearly $140 billion in debt during that period. Separately, the Federal Reserve of New York took a slightly different tack, reporting an increase in total household debt in the first quarter by $148 billion (0.9%) to $17.05 trillion.
In Amici Brief to SCOTUS, MBA, Trade Groups Stress Importance of Mortgage Market Stability
While the brief takes no position on whether the Bureau is constitutionally funded, it urges the Court to avoid ruling in a manner that would disrupt the housing and mortgage markets, harming both consumers and the economy.
MBA Recognizes 17 New Commercial Certified Mortgage Servicer Graduates
CHICAGO–MBA Education, the award-winning education division of the Mortgage Bankers Association, recognized 17 individuals who earned the Commercial Certified Mortgage Servicer (CCMS®) designation at a ceremony held at its 2023 Commercial/Multifamily Finance Servicing and Technology Conference.
MBA: Share of Mortgage Loans in Forbearance Falls in April to 0.51%
The Mortgage Bankers Association’s monthly Loan Monitoring Survey reported loans in forbearance decreased by 4 basis points to 0.51% of servicers’ portfolio volume as of April 30 from 0.55% in March.
#MBACMST23: How Servicers Stay Ahead of Challenges
CHICAGO–Commercial mortgage servicers must be able to adapt and pivot to face their daily challenges, servicing veterans noted at the MBA Commercial/Multifamily Finance Servicing and Technology Conference.
Industry Briefs: FHFA Requests Input on GSEs’ Single-Family Pricing Framework
The Federal Housing Finance Agency issued a Request for Input on Fannie Mae and Freddie Mac’s single-family pricing framework. The RFI solicits public feedback on goals and policy priorities that FHFA should pursue in its oversight of the pricing framework.
#MBACMST23: Learning from Downturns
CHICAGO–Real estate has always been a cyclical industry, so we can learn a lot from past downturns, panelists noted here at the MBA Commercial/Multifamily Finance Servicing and Technology Conference.
MBA Chart of the Week May 12, 2023: Mortgage Delinquency Rate, Unemployment Rate
This week’s chart shows that mortgage delinquencies and the unemployment rate continue to track each other closely.