U.S. title insurance companies’ statutory capital should remain very strong even as macroeconomic pressures mount in the coming months, Fitch Ratings said in a new report
Category: News and Trends
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“Saving for a down payment is one of the biggest hurdles first-time buyers face. Special Purpose Credit Programs can provide lenders with an effective way to serve minority groups who do not have access to generational wealth to use as part of their down payment.”
–Mortgage Bankers Association President and CEO Robert Broeksmit, CMB.
Broeksmit Weighs in on How to Narrow Minority Homeownership Gap
Mortgage Bankers Association President and CEO Robert Broeksmit, CMB, said Special Purpose Credit Programs can provide lenders with an effective way to serve minority groups who do not have access to generational wealth.
Single-Family Rent Growth Sees 13th Consecutive Record-Breaking Month
CoreLogic, Irvine, Calif., said U.S. single-family rent growth continued its hot streak in April, with prices up by 14 percent year-over-year for the thirteenth consecutive month of record-breaking annual gains.
Homebuyers on $2,500 Monthly Budget Lose $118,000 in Spending Power in 2022
Redfin, Seattle, said a homebuyer on a $2,500 monthly budget has lost nearly $120,000 in spending power since the end of last year as mortgage rates have nearly doubled.
Home Flipping Spikes; Profits Don’t
ATTOM, Irvine, Calif., reported a sharp increase in home flipping in the first quarter—but profits did not necessarily follow suit.
CoreLogic: 7.8 Million U.S. Properties at Risk of Hurricane-Force Wind, Storm Surge Damage
CoreLogic, Irvine, Calif., said its risk modeling shows nearly 7.8 million homes with more than $2.3 trillion in combined reconstruction cost value are at risk of hurricane-related damages.
CMBS Delinquency Rate Falls Sharply
Trepp LLC, New York, said the commercial mortgage-backed securities delinquency rate posted another large decline in May.
FHFA Re-Assures MBA, Trades’ Concerns over New GSE Credit Score Requirements
Following concerns expressed in a May 13 letter, the Federal Housing Finance Agency assured the Mortgage Bankers Association and other industry trade groups that industry stakeholders such as themselves would have sufficient time to implement necessary system and process changes that any updates to Fannie Mae and Freddie Mac’s credit score requirements would entail.
Share of Mortgage Loans in Forbearance Falls to 0.85%
Mortgage loans in forbearance fell to new post-pandemic lows in May, the Mortgage Bankers Association reported.