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.
Category: News and Trends
1Q Homeowner Equity Gains Top $60,000 Amid Rapid Home Price Growth
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 Issues Reporting Guide on Forbearance Data Exchange
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.
Analysis: 1/3 of Declined Mortgage Applications Addressable with Homebuyer Assistance
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.
2nd Home Hotspots See Outsized Growth in Rental, Home Prices
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.
FHFA, GSEs Detail Equitable Housing Finance Plans
The Federal Housing Finance Agency on Wednesday offered details of the government-sponsored enterprises’ Equitable Housing Finance Plans for 2022-2024.
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“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.
FHFA Releases GSE 2021 Mission Report
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.
Redfin: Homes with High Fire Risk Sell for More as Americans Flock to Fire-Prone Areas
Redfin, Seattle, said its analysis of homes for sale in high fire-risk areas found the median sale price of U.S. homes with high fire risk was $550,500 in April, compared with $431,300 for homes with low fire risk—a difference of nearly $120,000.
Mortgage Holders Gain $1.2 Trillion in 1Q Tappable Equity
The least-affordable housing market in nearly two decades provides at least one windfall—the average home has gained nearly 9 percent in value since just the start of 2022, with homeowners gaining more than $1.2 trillion in equity in the first quarter, said Black Knight, Jacksonville, Fla.