“The good news is that people who already own homes have locked in relatively low mortgage payments. The bad news is that homeownership is moving further out of reach for other folks as rising rates, elevated home prices and the persisting housing shortage make buying a house more expensive.”
–Redfin Deputy Chief Economist Taylor Marr.
The Mortgage Bankers Association’s monthly Loan Monitoring Survey reported loans now in forbearance decreased by 2 basis points from 0.74% of servicers’ portfolio volume in the prior month to 0.72% as of August 31. MBA estimates 360,000 homeowners are in forbearance plans.
The Mortgage Bankers Association’s monthly Loan Monitoring Survey reported loans now in forbearance decreased by 2 basis points from 0.74% of servicers’ portfolio volume in the prior month to 0.72% as of August 31. MBA estimates 360,000 homeowners are in forbearance plans.
Commercial/multifamily mortgage debt outstanding increased by $99.5 billion (2.3 percent) in the second quarter, the Mortgage Bankers Association said in its quarterly Commercial/Multifamily Mortgage Debt Outstanding report.
Redfin, Seattle, reported nearly one-third (31.4%) of U.S. home purchases were paid for with all cash in July, near the eight-year high reached in February and up from 27.5% a year earlier. In a separate report, Redfin said higher interest rates have given home buyers the upper hand after several years of a “sellers’ market.”
Mortgage executives here at the MBA Risk Management, QA and Fraud Prevention Forum offered insights on leading their organizations through today’s lending environment, maintaining quality operations, managing credit risk and governing organizations in unpredictable times.
NASHVILLE, TENN.—Kip Mendrygal, Partner with Locke Lord LLP, Dallas, says he’s seen a lot of weird stuff in his 20-plus years of investigating mortgage fraud.
The Mortgage Bankers Association and other industry trade groups urged the National Economic Council to support a reduction of the annual mortgage insurance premium for borrowers with FHA-insured loans.
NASHVILLE, TENN.—The current mortgage fraud environment is evolving, with new risks emerging in a post-pandemic environment, analysts said here at the MBA Risk Management QA and Fraud Prevention Forum.
NASHVILLE, TENN.—The housing market today is nothing like 2008, said Christa Lynn Greco, IA with the Criminal Investigative Division of the Federal Bureau of Investigation, Washington, D.C. But she said changing market conditions make the potential for mortgage fraud ever-present.
