The Federal Housing Finance Agency announced enhancements to Fannie Mae and Freddie Mac’s multifamily radon standards. The Mortgage Bankers Association commended the announcement.
Category: News and Trends
Higher Rates Make Renting More Affordable that Homeownership
ATTOM, Irvine, Calif., said higher mortgage interest rates tipped the needle toward renting over homeownership.
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.
Quote (Jan. 24)
“For three consecutive months, the forbearance rate has remained flat–an indicator that we may have reached a floor on further improvements.”
–Marina Walsh, CMB, MBA Vice President of Industry Analysis.
MBA: 4Q Commercial, Multifamily Mortgage Delinquency Rates Increase
Delinquency rates for mortgages backed by commercial and multifamily properties increased slightly through the fourth quarter, the Mortgage Bankers Association’s latest CREF Loan Performance Survey reported.
Bank Commercial Real Estate Loan Delinquency Dips
Trepp, New York, said delinquency rates for commercial real estate loans held by banks declined in third-quarter 2022 after increasing modestly earlier in the year.
CFPB Proposes Rule to Establish Public Registry on Contracts Limiting Consumer Protections
The Consumer Financial Protection Bureau on Wednesday issued a proposed rule to establish a public registry of supervised nonbanks’ terms and conditions in “take it or leave it” form contracts that claim to waive or limit consumer rights and protections, such as bankruptcy rights, liability amounts or complaint rights.
2022 Foreclosures Double; Remain Below Pre-Pandemic Levels
ATTOM, Irvine, Calif., said 2022 foreclosure filings more than doubled from 2021 but remained well below pre-pandemic rates.
Susan Graham of FICS: Retaining Servicing Provides Competitive Advantage to Lenders in Challenging Mortgage Market
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.
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.