“The fourth quarter saw continued improvement in the performance of commercial and multifamily mortgages, particularly among property types that were the most impacted by the downturn.”
–Jamie Woodwell, MBA Vice President of Commercial Real Estate Research.
Fitch Ratings, New York, said the commercial mortgage-backed securities delinquency rate dipped nine basis points in December to 2.67 percent, driven by robust new issuance, continued loan resolutions and fewer new delinquencies.
A new Consumer Financial Protection Bureau analysis sharply criticized the three major nationwide consumer reporting companies, alleging changes in complaint responses provided by Equifax, Experian and TransUnion resulted in fewer meaningful responses and less consumer relief.
Millennials and Gen Z—the most underrepresented cohorts in homeownership—continue to lag behind after nearly two years into the coronavirus pandemic, according to a survey by PropertyShark, New York.
The Federal Housing Finance Agency on Wednesday announced targeted increases to Fannie Mae and Freddie Mac’s upfront fees for certain high-balance loans and second-home loans, effective Apr. 1.
“Higher fees for high-balance conforming loans and second-home loans should provide an opportunity for the GSEs to lower fees on the mission-centric portions of their businesses that primarily serve first-time and low- to moderate-income borrowers. The use of pricing as a tool to manage loan deliveries is more reasonable than previous efforts that featured percent-of-delivery thresholds, and the extended implementation period will protect consumers and lenders from cost increases on loans already in process.”
–MBA President & CEO Robert Broeksmit, CMB.
The Mortgage Bankers Association’s Servicing Solutions Conference & Expo 2022 takes place Feb. 22-25 at the Hyatt Regency Orlando. Early registration deadline is this Tuesday, Jan. 11–save more than $200 by registering now.
United Van Lines, St. Louis, released its 45th Annual National Movers Study, showing Americans were on the move to lower-density areas and to be closer to their families throughout last year.
Reports from First American Financial Corp., Santa Ana, Calif., and ATTOM, Irvine, Calif., show rising home prices and inflation are taking a bigger bite out of housing affordability entering the new year.
According to the MBA Monthly Loan Monitoring Survey, the share of loans in forbearance dropped to 1.67 percent of servicers’ portfolio volume as of November 30, after climbing to a monthly peak of 8.53 percent as of May 31, 2020. As many borrowers have moved out of forbearance and into permanent loan workout solutions since 2020, the question becomes: How are they faring?
