The Mortgage Bankers Association’s monthly Loan Monitoring Survey reported loans in forbearance remained flat at 0.70% as of November 30. MBA estimates 350,000 homeowners are in forbearance plans.
Category: News and Trends
MBA, Trade Groups Urge FTC to Crack Down on Banking Scams
The Mortgage Bankers Association, the American Bankers Association and other banking trade associations urged the Federal Trade Commission to crack down on those who impersonate banks or government officials in scams.
ACES: Critical Defect Rates Up 6%
ACES Quality Management, Denver, issued its quarterly Mortgage QC Industry Trends Report, showing the overall critical defect rate increased by 6% in the second quarter to 2.05%, crossing the 2% threshold for only the third time in this report’s history.
Some Homeowners Ready to Move, but Feel ‘Stuck’
High mortgage rates and persistently high home prices have a majority of homeowners who want to move feeling stuck in their current homes, according to the Point Homeowner Sentiment and Moving Survey.
MBA Releases Updated Affordable Housing Policy Agenda
The Mortgage Bankers Association released the second iteration of its Affordable Housing Policy Agenda.
FHFA Issues 2023-2024 GSE Multifamily Housing Goals
The Federal Housing Finance Agency on Wednesday issued its final rule for Fannie Mae and Freddie Mac that establishes the benchmark levels for their 2023 and 2024 multifamily housing goals.
Fitch: Potential Recession, Scarce Capital to Slow REITs Pandemic Recovery
Fitch Ratings, New York, said challenging economic and financial trends for U.S. real estate investment trusts will continue into 2023 after emerging in 2022.
Quote
“There were pockets of weakness in the November data, despite the forbearance rate remaining unchanged and the overall loan performance of serviced loans staying mostly flat.”
–Marina Walsh, CMB, MBA Vice President of Industry Analysis.
MBA: 3Q Commercial, Multifamily Mortgage Debt Outstanding Up $70B
Commercial and multifamily mortgage debt outstanding increased by $70.0 billion (1.6 percent) in the third quarter, the Mortgage Bankers Association reported Tuesday in its quarterly Commercial/Multifamily Mortgage Debt Outstanding Report.
MBA Servicing Solutions Conference & 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.