“Foreclosure inventory levels and foreclosure starts remain well below historical averages for the survey – a strong indication that servicers are able to help delinquent borrowers find alternatives to foreclosure. Such alternatives include curing, loan workouts, home sales – with possible equity to spare, or cash-for-keys and deed-in-lieu options.”
–Marina Walsh, CMB, MBA Vice President of Industry Analytics
The Mortgage Bankers Association’s annual Risk Management, QA and Fraud Prevention Forum takes place Sept. 11-13 at the Grand Hyatt Nashville.
The Mortgage Bankers Association last week sent a letter to federal regulatory agencies, discussing several topline issues it says are crucial to improving the current Community Reinvestment Act framework.
This MBA Chart of the Week examines the relationship between mortgage payments and asking rents since the second half of 2009. MBA’s national mortgage payment to rent ratio compares the national median and 25th percentile mortgage payments to the national median asking rent.
After hours of procedural debate on Saturday afternoon, followed by a marathon overnight “vote-a-rama” (a series of amendment votes – none of which pertained directly to real estate finance), the Senate on Sunday passed an amendment in the nature of a substitute to H.R. 5376, now known as the Inflation Reduction Act, by a 51-50 vote (Vice President Kamala Harris breaking the tie).
Fitch Ratings, New York, said U.S. life insurers’ commercial mortgage fundamentals have largely recovered since the pandemic, with stable property outlooks for hotel, office retail and multifamily sectors.
Auction.com, Irvine, Calif., said its annual Seller Insights Report found nine in 10 mortgage servicers disposing of distressed properties on the Auction.com platform expect their foreclosure auction volume to increase in the next 12 months.
Wildfires? Floods? Other natural disasters? “Bring it on,” homeowners seem to be saying.
Reports from ATTOM, Irvine, Calif., and Black Knight, Jacksonville, Fla., confirm the importance of home equity in a tightening mortgage market.
“MBA supports a regulatory framework that will provide greater clarity and consistency in the CRA’s application, address changes in the banking industry (including the expanded role of mobile and online banking) and create a consistent regulatory approach that applies to banks regulated by all three Agencies.”
–From an MBA letter to federal regulatory agencies on proposed changes to the Community Reinvestment Act.
