Redfin, Seattle, reported that the drop in home purchases by investors outpaced the second-quarter drop in overall home sales. Investor home purchases fell 45% from last year, compared with an overall market drop of 31%.
Category: News and Trends
CoreLogic: No U.S. State Posts Annual Mortgage Delinquency Increases in June
U.S. mortgage performance remained exceptionally strong in June, with both overall delinquency and foreclosure rates at or near historic lows, reported CoreLogic, Irvine, Calif.
Fitch: Serious RMBS Delinquencies Trending Positively; Early Delinquencies Remain Flat
Fitch Ratings, New York, said servicers continue to work with struggling homeowners to avoid loan default, as early delinquencies remain flat and late stage delinquencies show positive movement.
MISMO Publishes Servicing Transfer Catalog
MISMO®, the real estate finance industry’s standards organization, announced the MISMO Servicing Transfer Catalog has reached “Candidate Recommendation” status, which means it has been thoroughly reviewed by a wide range of organizations and industry participants and is available for use across the industry.
Quote Tuesday, Sept. 5, 2023
“The national mortgage delinquency rate remained at a historic low in June.”
–Molly Boesel, Principal Economist for CoreLogic
MBA Chart of the Week Aug. 28: Mortgage Forbearance Rate and Reasons for Forbearance
According to the July results from MBA’s Monthly Loan Monitoring Survey, the total number of loans now in forbearance decreased by 5 basis points from 0.44% of servicers’ portfolio volume in the prior month to 0.39% as of July 31, 2023.
S&P Global Ratings: Large Banks Likely to See Stable Financial Performance Amid Headwinds
Earnings at most of the eight U.S. global systemically important banks improved from the same quarter last year, largely because of higher net interest income, reported S&P Global Ratings, New York.
Auction.com: Default Servicers Expect Slight Increase in Foreclosure Volume
More than nine in 10 default servicing industry leaders expect completed foreclosure auction volume to increase this year compared to 2022, reported Auction.com, Irvine, Calif.
Black Knight: Foreclosure Inventory Very Low, Serious Delinquencies Down in July
Black Knight, Jacksonville, Fla., reported its “first look” at July 2023 mortgage performance statistics, finding that serious delinquencies continue to improve.
MISMO Releases Consumer Home Equity SMART Doc Standardized Mapping and Updated Implementation Guide
MISMO, the real estate finance industry’s standards organization, announced that it is publishing Version 2.1 of the SMART Doc 1.02 Standard Mapping and Implementation Guide as final.