FHA on Thursday issued temporary partial waivers to its Home Equity Conversion Mortgage (HECM) policies. These waivers provide mortgagees with expanded flexibility to help senior homeowners with HECMs who are struggling financially due to COVID-19.
Category: News and Trends
CoreLogic: Hurricane Ida Leaves $27-40 Billion in Losses
CoreLogic, Irvine, Calif., estimated residential and commercial wind, storm surge and inland flooding loss estimates for Hurricane Ida in Louisiana, Mississippi and Alabama at $27-$40 billion.
CFPB Proposed Rule Focuses on Small Business Access to Credit
The Consumer Financial Protection Bureau on Wednesday proposed a new rule aimed at increasing transparency in the small business lending marketplace.
Administration Announces Steps to Increase Affordable Housing Supply
The Biden Administration on Wednesday announced a number of steps aimed at creating, preserving and selling to homeowners and non-profits nearly 100,000 additional affordable homes for homeowners and renters over the next three years, with an emphasis on the lower and middle segments of the market.
Fitch Ratings: Small U.S. Banks Most Exposed to Commercial Real Estate Losses
Fitch Ratings, Chicago, said the U.S. commercial real estate market will likely see deteriorating credit metrics once stimulus measures wind down and forbearance programs expire, with smaller CRE-concentrated banks more susceptible to elevated losses, which are expected to peak below levels seen in the past.
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“MBA strongly supports the administration’s efforts to increase the housing supply by encouraging the construction and rehabilitation of affordable apartments and homes for renters and first-time buyers. The lack of supply is a huge problem, and HUD and FHFA should do what they can administratively while Congress considers more significant initiatives. MBA looks forward to continuing to work with the administration, Congress, and all other stakeholders on ways to address supply constraints and ensure government programs appropriately complement private capital to help both renters and homeowners.”
–MBA President and CEO Bob Broeksmit, CMB.
Call for Speakers: MBA Servicing Solutions Conference & Expo 2022—Deadline Sept. 13
Speaking proposals are now being accepted for the Mortgage Bankers Association’s Servicing Solutions Conference & Expo 2022, taking place February 22-25 in Orlando, Fla. This event is the largest gathering of mortgage servicers each year.
MBA Education School of Mortgage Servicing Oct. 5-15
MBA Education presents its popular School of Mortgage Servicing instructor-guided online course this Oct. 5-15.
MBA Education School of Mortgage Servicing Oct. 5-15
MBA Education presents its popular School of Mortgage Servicing instructor-guided online course this Oct. 5-15.
Share of Mortgage Loans in Forbearance Unchanged at 3.25%
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans in forbearance remained unchanged at 3.25% as of August 22. MBA estimates 1.6 million homeowners are in forbearance plans.