ACES Quality Management, Denver, said overall critical defect rates improved in the fourth quarter but remained high for calendar year 2020.
Category: News and Trends
Most Senior CMBS Found ‘Resilient’ Under Stress Test
Most high investment-grade rated commercial mortgage-backed securities multi-borrower bonds can withstand downgrades under a new hypothetical stress test, Fitch Ratings reported last week.
MBA, Lenders Seeks Clarity on Juneteenth Holiday Designation
With unusual speed and rare bipartisan agreement, Congress last week passed, and President Biden signed, legislation designating June 19—colloquially known as “Juneteenth”—a federal holiday, a move welcomed by Americans and supported by the Mortgage Bankers Association and thousands of businesses nationwide. But the speed of the designation—with Friday, June 18 designated a federal holiday—resulted in unintended consequences and disruption for the mortgage lending industry.
MBA Endorses Plan to Significantly Increase Black Homeownership by 2030
The Mortgage Bankers Association endorsed an announcement by the Black Homeownership Collaborative to close the Black homeownership gap through its 7-point plan – a solutions-based initiative to increase Black homeownership by 3 million net new households by 2030.
MBA Statement on Changes to FHA’s Calculation of Student Debt
Statement by MBA President and CEO Bob Broeksmit, CMB, regarding the announced changes to FHA’s calculation of student debt:
The State of the Nation’s Housing: Millions Face Risk of Eviction or Foreclosure
Households that weathered the pandemic without financial distress are “snapping up” the limited supply of homes for sale, pushing up prices and excluding less-affluent buyers from homeownership, the Joint Center for Housing Studies at Harvard University reported Wednesday.
1st Quarter Home Flipping Rate at 21-Year Low; Profits Decline
ATTOM, Irvine, Calif., said home flipping activity fell in the first quarter to the lowest level since 2000.
ATTOM: May Foreclosure Starts Up 36% YOY
ATTOM, Irvine, Calif., reported 10,821 U.S. properties with foreclosure filings in May, down 8 percent from a month ago but up 23 percent from a year ago. Foreclosure starts, which represent the initial notice of default, grew by 36 percent year-over-year.
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“Promoting safe and sustainable homeownership and closing the homeownership gap that exists within minority communities is my top priority as MBA’s 2021 Chair. The mortgage industry has an opportunity and a responsibility to open the door for those ready and able to buy a home.”
–Susan Stewart, 2021 MBA Chair and CEO of SWBC Mortgage Corp., on MBA’s participation in the Black Homeownership Collaborative, which aims to increase Black homeownership by 3 million households by 2030.
MBA: 1st Quarter Commercial/Multifamily Mortgage Debt Up 1.1%
Commercial and multifamily mortgage debt outstanding rose by $44.6 billion (1.1 percent) in the first quarter, the Mortgage Bankers Association’s latest Commercial/Multifamily Mortgage Debt Outstanding report said.