The Mortgage Bankers Association and more than a dozen industry trade groups on Monday urged Senate leadership to support legislation that would address “tough legacy” contracts that currently reference the soon-to-expire London InterBank Offered Rate.
Category: News and Trends
Homeownership Rate Holds Steady; Vacancy Rates Hit 38-Year Low
The nation’s homeownership rate held relatively steady at 65.5 percent in the fourth quarter, the Census Bureau reported last week. But analysts said the rate could be somewhat higher, given the current shortage of homes available for sale.
TransUnion: Recent Vintage Loans Perform Well Even as More Non-Prime Consumers Gain Credit
TransUnion, Chicago, said consumer credit performance maintained healthy levels across auto, credit card, personal loans and mortgages in the fourth quarter even as lenders continued to ramp up new account origination growth in the non-prime segment of the market.
Strong Housing Market Boosts Sharp Rise in Homeowner Equity
ATTOM, Irvine, Calif., said mortgage residential properties considered “equity-rich” jumped to nearly 42 percent in the fourth quarter as rising home prices boosted homeowner equity.
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“Income growth has helped to reduce past-due rates and home equity build-up has reduced the likelihood of a distressed sale for families that experience financial challenges.”
–Frank Nothaft, Chief Economist with CoreLogic, Irvine, Calif.
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.
Orest Tomaselli of CondoTek on Condo/Co-op Compliance
Orest Tomaselli is President of the Condominium and Cooperative Review Division of CondoTec, Philadelphia, and owner of Strategic Inspections, a national reserve study provider.
Fitch: Some REITs Struggle with Coronavirus Effects
Fitch Ratings, New York, reported 17 percent of U.S. equity real estate investment trusts had negative outlooks in December, down significantly from a year ago.
Index Cites Gains in Home Buyer Assistance Programs
Down Payment Resource, Atlanta, said results of its latest Homeownership Program Index showed measurable quarter-over-quarter gains in program funding levels and an increased prevalence of programs aimed at assisting community heroes.
A More Challenging Economic Environment for IMBs
NASHVILLE, Tenn.—The nation’s economy—and just as importantly, the housing market—are as challenging and as opportunistic in any time in history, according to Mortgage Bankers Association economists.