The Federal Housing Administration on Monday announced expansion of its loss mitigation options used to help borrowers struggling to make mortgage payments on their FHA-insured mortgages.
Category: News and Trends
(IMB23) The Mortgage Market: IMB Leaders’ Perspectives
CORONADO, Calif.—With a volatile economic outlook, how are the practitioners—the independent mortgage bankers—approaching 2023 and beyond?
CBRE: Real Estate Investors Targeting Secondary Markets, Opportunistic Strategies
U.S. commercial real estate investors favor opportunistic strategies and show a preference for secondary markets amid concerns about higher interest rates and tighter financial market conditions, reported CBRE, Dallas.
ATTOM: Home Seller Profits Top 50% in 2022 Despite Market Slowdown
ATTOM, Irvine, Calif., said U.S. home sellers nationwide realized a $112,000 profit on the typical sale last year, up 21 percent from $92,500 in 2021 and up 78 percent from two years ago.
MBA Chart of the Week, Jan. 27, 2023: Monthly Principal, Interest Payments
In the most recent MBA Purchase Applications Payment Index (PAPI) release, MBA Research introduced a new measure—The Builders’ Purchase Applications Payment Index (BPAPI). While PAPI uses MBA’s Weekly Applications Survey purchase data to calculate mortgage payments, BPAPI uses analogous MBA Builder Applications Survey data to create an index that measures how new mortgage payments vary across time relative to income, with a focus exclusively on newly built single-family homes.
Mortgage Performance Remains ‘Exceptionally Healthy’
Reports from CoreLogic, Irvine, Calif., and Black Knight, Jacksonville, Fla., as well as last Monday’s Loan Monitoring Report from the Mortgage Bankers Association, show mortgage performance in the post-pandemic era remains strong and healthy.
Quote (Jan. 31)
“By the end of 2024-2025, half of the mortgages will be part of the ‘new normal,’ and what I expect to see is a huge run-up in property values in the future. We have to be able to see around the corner so that we can manage change and not be managed by change.”
–Stanley Middleman, CEO of Freedom Mortgage Corp., Mount Laurel, N.J.
Call for Speakers: MBA Secondary & Capital Markets Conference & Expo; Deadline Feb. 2
Speaking opportunities for breakout sessions are now being accepted for MBA’s Secondary & Capital Markets Conference & Expo 2023, taking place May 21–24 at the Marriott Marquis in Times Square.
Share of Mortgage Loans in Forbearance Remains Flat at 0.70% in December
The Mortgage Bankers Association’s monthly Loan Monitoring Survey revealed the total number of loans now in forbearance remained flat relative to the prior month at 0.70% as of December 31, 2022.
FHFA Increases Fannie Mae, Freddie Mac Multifamily Radon Standards
The Federal Housing Finance Agency announced enhancements to Fannie Mae and Freddie Mac’s multifamily radon standards. The Mortgage Bankers Association commended the announcement.