“MBA’s new policy initiative serves as a perfect foundation to level the playing field. The mortgage industry has a responsibility to promote minority homeownership by partnering with key stakeholders to remove barriers and support financial education and counseling, with a goal to close the racial homeownership gap and increase generational wealth among minority households.”
–Susan Stewart, 2021 MBA Chair and CEO of SWBC Mortgage Corp. San Antonio, Texas.
The Biden Administration on Monday nominated Alanna McCargo as President of Ginnie Mae. The Mortgage Bankers Association issued a statement in support.
Delinquency rates of mortgages backed by commercial and multifamily properties have broadly improved in recent months, according to two new Mortgage Bankers Association reports.
Forbearance exits saw their fastest pace since March, the Mortgage Bankers Association reported Monday afternoon in its weekly Forbearance and Call Volume Survey.
WASHINGTON—Mortgage Bankers Association President & CEO Robert Broeksmit, CMB, told attendees here at the MBA Regulatory Compliance Conference as Congress and the Biden Administration put plans into shape, the Association will continue to seek balance and advocate for the real estate finance industry.
Foreclosure activity increased significantly in August after the federal foreclosure moratorium ended July 31, reported ATTOM, Irvine, Calif.
The commercial mortgage-backed securities delinquency rate declined sharply in August, posting the largest drop in six months, reported Trepp LLC, New York.
CoreLogic, Irvine, Calif., released additional loss estimates for Hurricane Ida, following its initial release estimating between $27 billion and $40 billion in insured and uninsured losses from wind, storm surge and inland flooding in Louisiana and Mississippi.
Experian, Costa Mesa, Calif., said despite a challenging year and a half, consumers are managing credit well with average credit scores climbing seven points since 2020 to 695 – the highest point in more than 13 years.
Fitch Ratings, New York, said potential stress on U.S. life insurers’ commercial mortgage portfolios will not drive rating downgrades, given the industry’s strong capitalization, current loan quality and historical loss experience.
