Servicing retention generates servicing fee income and helps servicers improve the customer experience. Modern loan servicing software automates investor reporting and compliance and creates a more efficient workflow, allowing servicers to effectively service loans in-house.
Category: News and Trends
Quote (Jan. 17)
“Commercial and multifamily mortgages continued to perform well through the fourth quarter of 2022, albeit with a slight increase in the share of loans that are delinquent. Delinquency rates increased by small amounts for most property types even while the overall rate of delinquency remains low.”
–Jamie Woodwell, MBA Head of Commercial Real Estate Research.
Record Share of Home Sellers Offer Concessions to Buyers
The housing market’s about-face from a sellers’ market to a buyers’ market played out in stark fashion in the fourth quarter, with a record share of home buyers asking for—and receiving concessions in home sales, said Redfin, Seattle.
2 Million U.S. Homes Eligible Under New GSE Conforming Loan Limits
Zillow Home Loans, Seattle, said recently announced new conforming limits for loans eligible to be sold to Fannie Mae and Freddie Mac mean nearly two million U.S. homes no longer require jumbo loans.
FHFA Releases 2023 Scorecard for Fannie Mae, Freddie Mac, CSS
The Federal Housing Finance Agency on Wednesday released the 2023 Scorecard for Fannie Mae and Freddie Mac and their joint venture, Common Securitization Solutions LLC.
CMBS Delinquency, Special Servicing Rates Increase
The commercial mortgage-backed securities delinquency and special servicing rates both increased in November, according to Trepp LLC and DBRS Morningstar.
CFPB: Annual Report on Credit Reporting Companies Cites ‘Ongoing Challenges’
The Consumer Financial Protection Bureau on Tuesday issued its annual report on the industry’s three largest credit reporting companies, based on nearly a half-million complaints it received about TransUnion, Equifax and Experian.
Downsizing Tech Sector Challenges Office Recovery
CommercialEdge, Santa Barbara, Calif., reported tech companies have been laying off workers and downsizing their office footprints to cut costs, which could make the office sector’s recovery even harder.
Quote (Jan. 10, 2023)
“The addition of 2 million homes that now qualify for conforming loan options across the county is welcome news for home buyers entering a shopping season with fewer homes on the market. Home price appreciation has slowed significantly, and this means that homes nearing jumbo loan territory will stay eligible for conforming loans longer than we have seen in the last few years.”
–Zillow Economist Nicole Bachaud.
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.