The Mortgage Bankers Associations Servicing Solutions Conference & Expo, Roadmap to Servicing Success, takes place Feb. 21-24 at the Hyatt Regency Orlando.
Category: News and Trends
MBA Letter Voices Concerns Over FHFA DTI-Based LLPA
The Mortgage Bankers Association on Friday sent a letter to the Federal Housing Finance Agency expressing concerns regarding recently announced changes to loan-level price adjustments by Fannie Mae and Freddie Mac, particularly addition of an LLPA based on debt-to-income ratio.
CFPB Loses Key IMB Redlining Case
On Friday, a District Court in Chicago ruled in CFPB v. Townstone Financial Inc. and Barry Sturner that the Equal Credit Opportunity Act does not extend to prospective applicants under a plain language reading of the statute.
Black Knight: More than Half of Borrowers Using Rate Buydowns
Black Knight, Jacksonville, Fla., said 57 percent of recent borrowers used rate buydowns to purchase a home, with nearly 25 percent paying two or more points upfront.
Homebuyers See Relief from Prices, Monthly Payments
Redfin, Seattle, said homebuyers in many markets are starting to see relief from home prices and monthly payments.
Fitch: RMBS Servicers Focus on Post-Pandemic Performance
Fitch Ratings, New York, said mortgage servicers are anticipating increased regulatory scrutiny in 2023 as borrowers continue to exit forbearance assistance plans and seek help with their mortgage payments.
Home Equity Flattens in 4Q
ATTOM, Irvine, Calif., said 48 percent of mortgaged residential properties in the United States were considered equity-rich in the fourth quarter, down slightly from the previous quarter but up from a year ago.
Inflation Spurs Consumers to Credit Cards, Home Equity
TransUnion, Chicago, said amid rising interest rates and high inflation, the fourth quarter saw consumers continuing to look to credit as a means to help stave off financial pressures.
Quote (Feb. 7)
“We’re beginning to see an increase in the level of activity. And that’s in our data in terms of mortgage applications. It’s in pending home sales from the realtors. And it’s in builder sentiment from the homebuilders. So everything pointing in the same direction– January a little bit better than that extraordinarily slow fourth quarter from last year.”
–MBA Chief Economist Mike Fratantoni, appearing on Yahoo! Finance Feb. 2.
MBA Servicing Solutions Conference and Expo in Orlando Feb. 21-24
The Mortgage Bankers Associations Servicing Solutions Conference & Expo, Roadmap to Servicing Success, takes place Feb. 21-24 at the Hyatt Regency Orlando.