It took nearly a year, and by the slimmest of margins, the Senate late Wednesday finally confirmed Julia Gordon, as FHA Commissioner.
Category: News and Trends
Millennials’ Late Homeownership, Increased Migration Impact Insurance Carriers
Seemingly little things can have big consequences. For the insurance industry, said TransUnion, Chicago, the delay in Millennial homeownership has had ripple effects that insurance providers are feeling now.
Nearly Half of U.S. Homeowners Equity-Rich
ATTOM, Irvine, Calif., reported 44.9 percent of mortgaged residential properties in the United States were considered equity-rich in the first quarter, up by more than 15 percent from just a year ago.
ATTOM: April Foreclosures Down 8% Monthly, Up from Year Ago
ATTOM, Irvine, Calif., reported properties with foreclosure filings in April fell by 8 percent from March but jumped by 160 percent from a year ago. Completed foreclosures, meanwhile, fell by 36 percent from March.
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“A stunning five million families are still in their homes, thanks in large to your grace and good work. It’s tough to overstate the difference you made. We’ve heard a lot of talk about ‘stimulus’ and ‘relief,’ but you did more than anyone else to make those words a reality. When interest rates fell, you helped borrowers turn them into refis. And when checks went out, you helped families turn them into the down payment on a new home.”
–MBA President & CEO Bob Broeksmit, CMB.
CFPB: ECOA Protects Borrowers After Applying for, Receiving Credit
The Consumer Financial Protection Bureau on Monday published an advisory opinion affirming the Equal Credit Opportunity Act—a federal civil rights law protecting individuals and businesses against discrimination in accessing and using credit—bars lenders from discriminating against customers after they have received a loan, not just during the application process.
To the Point with Bob: How Policymakers Can Empower Mortgage Lenders To Deliver More Relief To Borrowers
It is important to recognize how well U.S. mortgage markets have performed for borrowers, delivering record-low rates to millions of homeowners who refinanced, meeting mortgage demand in a booming housing market and keeping millions of Americans in their homes during the pandemic through the wide-scale implementation of forbearance plans.
Q/A: Marcy Thomas, CCMS, of Grandbridge Real Estate Capital
MBA NewsLink interviewed Marcy Thomas, CCMS, Vice President and Portfolio Loan Manager with Grandbridge Real Estate Capital LLC, about CMBS servicing, Diversity, Equity and Inclusion, the upcoming MBA Commercial/Multifamily Finance Servicing and Technology Conference and what the CCMS designation means to her.
MBA: 1st Quarter Mortgage Delinquencies Decrease
The delinquency rate for mortgage loans on one-to-four-unit residential properties decreased to a seasonally adjusted rate of 4.11 percent of all loans outstanding in the first quarter, the Mortgage Bankers Association’s National Delinquency Survey reported.
Rising Inflation Impacting Non-Prime Borrowers Most
As rapidly rising gasoline, energy and utility prices drive inflation, non-prime borrowers with the riskiest credit profiles have generally experienced the greatest impact to their wallets, reported TransUnion, Chicago.