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.
Category: News and Trends
Industry Briefs Mar. 7, 2023: Fitch Ratings Says FHA Premium Cuts ‘Credit Neutral’ for Private Mortgage Insurers
Fitch Ratings, New York, said recently announced reductions in the Federal Housing Authority mortgage insurance premium rates are not expected to have a meaningful credit impact on private U.S. mortgage insurance carriers.
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.
Typical Home Changes Hands Every 12 Years, Down from 2020 Peak
Redfin, Seattle, reported the typical U.S. homeowner has spent 12.3 years in their home, down from the peak of 13.4 years hit in 2020 and 12.9 years in 2021.
Trepp: 2022 Life Insurance Mortgage Returns Worse Than 2008
Trepp LLC, New York, said its life LifeComps index of insurance company commercial mortgage investments saw a -10.1% return in 2022, largely due to a -14.3% appreciation return.
MBA, Business Coalition Letter Opposes FTC Non-Compete Ban Proposed Rule
The Mortgage Bankers Association, the U.S. Chamber of Commerce and more than 300 industry trade and business groups sent a letter to the Federal Trade Commission to “unequivocally oppose” a proposed rule that would impose a nationwide ban on nearly all non-compete clauses.
Quote: Tuesday Mar. 7, 2023
“Policymakers must provide the certainty necessary for the industry to transition beyond the pandemic by addressing two issues: 1) the necessary extension of the successful ‘temporary flexibilities’ into permanent solutions and 2) loss mitigation in a high-interest rate environment. It will be essential for Congress, the administration and policymakers at all levels to take the coordinated actions necessary to ensure that servicers can continue to support struggling borrowers.”
–From an MBA White Paper on loss mitigation strategies.
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.
Zillow: Homes Owned by Black Families Appreciated Fastest During Pandemic
Homes owned by Black families appreciated more than any others since the start of the pandemic, with the typical Black homeowner gaining nearly $84,000 in equity, reported Zillow, Seattle.
(#MBAServicing23): Leading Through Change and Uncertainty
ORLANDO–Mortgage servicing executives here at the MBA Servicing Solutions Conference & Expo stressed flexibility and adaptability in a rapidly changing business environment.