This is a difficult time for the housing industry, and those challenges extend to all corners—not only mortgage lenders but also the warehouse lenders, vendors, title companies, and real estate agents that support the housing and mortgage finance ecosystem.
Category: News and Trends
U.S. Foreclosure Activity Spikes in May
Foreclosure filings–default notices, scheduled auctions or bank repossessions–increased 7% in May from April and 14% from a year ago, reported ATTOM, Irvine, Calif.
Deadline July 3: Apply for MBA Education’s Residential Educator of the Year
Applications have opened for MBA Education’s Residential Educator of the Year Award. The deadline is July 3.
U.S. Foreclosure Activity Spikes in May
Foreclosure filings–default notices, scheduled auctions or bank repossessions–increased 7% in May from April and 14% from a year ago, reported ATTOM, Irvine, Calif.
School of Multifamily Property Inspections in Dallas July 19-20
MBA Education’s School of Multifamily Property Inspections is designed to help originators, asset managers, underwriters, servicers and those inspecting multifamily properties better understand the nuances of physical property conditions, as well as the appropriate way to perform efficient physical inspections.
MBA: Share of Mortgage Loans in Forbearance Drops to 0.49% in May
The total number of loans now in forbearance decreased to 0.49% for May from 0.51% of servicers’ portfolio volume in April, the Mortgage Bankers Association’s monthly Loan Monitoring Survey reported.
Fitch: RMBS Servicers Focus on Struggling Borrowers; Delinquencies Remain Flat
Servicers continued to work with struggling homeowners to avoid loan default as delinquent loans remained flat in late 2022, according to Fitch Ratings’ fourth-quarter U.S. RMBS Servicer Metric Report.
Critical Defect Rate Drops in Q4 2022, ACES Finds
ACES Quality Management, Denver, found the overall critical defect rate declined to 1.84% in Q4 2022.
Fed Keeps Rates Steady But Options Open
The Federal Open Market Committee held rates steady at its June meeting but kept its options open for July and later this year.
Deadline July 3: Apply for MBA Education’s Residential Educator of the Year
The Mortgage Bankers Association announced that applications have opened for MBA Education’s Residential Educator of the Year Award.