Fitch Ratings, New York, said it sees limited risks to real estate investment trust credit fundamentals from a transitory inflation-rate increase, but noted prolonged elevated inflation could pressure REITs.
Category: News and Trends
Reports Show Drop in Delinquencies, Rise in Foreclosures
CoreLogic, Irvine, Calif., reported steady drops in mortgage delinquencies in August, while ATTOM, Irvine, Calif., said the end of foreclosure moratoria earlier this summer is pushing mortgage foreclosure actions higher.
Quote
“The continued strengthening of the FHA Mutual Mortgage Insurance Fund is a welcome development that highlights the strong financial stewardship of the Fund by HUD and other stakeholders, including lenders. A healthy FHA program is necessary to ensure the broad availability of sustainable mortgage credit to low- and moderate-income households, minority borrowers, first-time homebuyers and other historically underserved communities.”
–MBA President & CEO Robert Broeksmit, CMB.
MBA Servicing Solutions Conference & Expo in Orlando Feb. 22-25
The Mortgage Bankers Association’s Servicing Solutions Conference & Expo 2022 takes place Feb. 22-25 at the Hyatt Regency Orlando.
Final MBA Forbearance & Call Volume Survey: Mortgage Loans in Forbearance Drops to 2.06%
The Mortgage Bankers Association issued its final Forbearance and Call Volume Survey on Monday; 77 weeks after its first survey, MBA reported one million homeowners in forbearance plans, down from more than six million in mid-2020.
CMBS Delinquency Rate Tumbles
Trepp LLC, New York, reported the commercial mortgage-backed securities delinquency rate declined sharply again in October.
Auction.com: Completed 3Q Foreclosure Auctions Up 16%
Auction.com, Irvine, Calif., said completed foreclosure auctions in the third quarter increased by 16 percent from the previous quarter and by 89 percent from a year ago to a new pandemic high.
CFPB: Credit Report Disputes More Common in Minority Neighborhoods
The Consumer Financial Protection Bureau released research reporting consumers in majority Black and Hispanic neighborhoods, as well as younger consumers and those with low credit scores, are far more likely to have disputes appear on their credit reports.
Gen Z Drives Strong Q3 Credit Activity
The credit card industry is rebounding strongly from the early impacts of the COVID-19 pandemic, said TransUnion, Chicago, with Gen Z leading the way in terms of originations and bankcard balance growth and other credit categories, including mortgage.
MBA, Trade Groups Urge Senate Banking Committee to Approve LIBOR ‘Tough Legacy’ Legislation
The Mortgage Bankers Association and nearly two dozen industry trade groups urged members of the Senate Banking Committee to support federal legislation to address “tough legacy” contracts that currently reference LIBOR.