The Mortgage Bankers Association’s Secondary & Capital Markets Conference returns to the New York Marriott Marquis May 21-24.
Category: News and Trends
CMBS Delinquency Rate Dips; Special Servicing Rate Increases
Fitch Ratings, New York, reported the commercial mortgage-backed securities delinquency rate decreased two basis points in February to 1.83%.
RIHA Releases Second Collection of Essays on Climate Change’s Impact on Real Estate Finance
The Mortgage Bankers Association’s Research Institute for Housing America published a second collection of essays that addresses affects of climate change on the real estate finance industry.
CoreLogic: 4Q Home Equity Gains Slow Further
CoreLogic, Irvine, Calif., said homeowners with mortgages (which account for roughly 63% of all properties) saw equity slow to a 7.3% increase year over year, representing a collective gain of $1 trillion, for an average of $14,300 per borrower, from one year ago.
Government Roundup: FHA Publishes 40-Year Loan Mod Final Rule; CFPB Targets ‘Junk Fees’
In this week’s Government Roundup, FHA published a final rule that would permit 40-year terms for loan modifications; and the Consumer Financial Protection Bureau released a special edition of its Supervisory Highlights targeting allegedly unlawful junk fees uncovered in deposit accounts and in multiple loan servicing markets, including in mortgage, student and payday lending.
Foreclosure Activity Posts Monthly Decrease, Rises Annually
ATTOM, Irvine, Calif, said properties with foreclosure filings fell by 3 percent in February from January but rose by 18 percent from a year ago.
MISMO Seeks Public Comment on Private-Label RMBS Specification and Implementation Guide
MISMO®, the real estate finance industry standards organization, seeks public comment on the Private-Label Residential Mortgage-Backed Securities (PL RMBS) Specification and Implementation Guide, which will facilitate electronic exchange of mortgage asset data to credit rating agencies.
MBA Secondary and Capital Markets Conference in NYC May 21-24
The Mortgage Bankers Association’s Secondary & Capital Markets Conference returns to the New York Marriott Marquis May 21-24.
Quote: Tuesday Mar. 14, 2023
“This additional tool will allow mortgage servicers to help struggling FHA borrowers stay in their homes through a more affordable and sustainable mortgage payment. Adding the 40-year loan modification to FHA’s loss mitigation toolkit creates better alignment across the government and with Fannie Mae and Freddie Mac, a long-standing MBA priority that we most recently recommended in our new white paper on the future of loss mitigation. Better alignment will improve consumer experience and lead to consistency and simplicity when addressing adverse market conditions, national emergencies and natural disasters.”
–MBA President & CEO Robert Broeksmit, CMB, on an FHA final rule authorizing 40-year loan modifications.
MBA White Paper Addresses Future of Loss Mitigation
The Mortgage Bankers Association released a white paper, The Future of Loss Mitigation, which takes into consideration how lessons applied and learned during the COVID-19 pandemic should shape permanent loss mitigation policy.