“CONVERGENCE Philadelphia will bring together a local network of housing leaders, non-profits, and other stakeholders to collaborate on sustainable housing opportunities for underserved people and communities. We are grateful for the strong support from Finance of America, Radian and Wells Fargo Home Mortgage as we develop strong affordable housing partnerships to increase homeownership opportunities in Philadelphia.”
–MBA President and CEO Bob Broeksmit, CMB.
The Mortgage Bankers Association and Winnow Solutions LLC, Anaheim, Calif., announced a partnership that will provide MBA member subscribers – at a 10% discount rate – a comprehensive database of state and federal regulations to help control costs and better manage the growing complexity of mortgage regulations.
Fitch Ratings, New York, reported the U.S. commercial mortgage-backed securities delinquency rate fell by 22 basis points to 2.10% in May, amid strong retail resolution volume and robust new issuance.
CoreLogic, Irvine, Calif., reported U.S. homeowners with mortgages saw their equity increase by 32.2% year over year, representing a collective equity gain of $3.8 trillion and an average gain of $63,600 per borrower.
MISMO®, the real estate finance industry standards organization, launched a new guide and sample credit response to help industry professionals using MISMO Reference Models v3.4 and v3.5 better report on loans that have been in or are in forbearance.
Down Payment Resource, Atlanta, said its analysis of mortgage loan applications found nearly one-third of declined mortgage loan applications are both declined for reasons that can be addressed with homebuyer assistance and eligible for homebuyer assistance programs.
As remote work prompted many Americans to relocate during the pandemic, housing costs soared in second-home hotspots even more than the rest of the country, according to Redfin, Seattle.
The Federal Housing Finance Agency on Wednesday offered details of the government-sponsored enterprises’ Equitable Housing Finance Plans for 2022-2024.
“The GSEs’ plans – focused on a typical consumer’s housing lifecycle – should allow for increased opportunities for minority households to secure affordable rental housing, prepare for homeownership and obtain access to safe and affordable mortgage credit. While the plans are targeted to Black and Hispanic borrowers, all low- and moderate-income borrowers and communities should benefit.”
–MBA President & CEO Robert Broeksmit, CMB.
The Federal Housing Finance Agency released its annual Mission Report that describes Fannie Mae, Freddie Mac and Federal Home Loan Bank activities to increase access to financing for economic development and affordable, equitable and sustainable housing.
