The share of loans in forbearance haven’t moved much lately–but for the past 14 weeks, they’ve been moving down, the Mortgage Bankers said Monday.
Category: News and Trends
CMBS Delinquency Rate Improvement Reaches 11-Month Mark
Trepp LLC, New York, reported the commercial mortgage-backed securities delinquency rate declined again in May, posting its biggest drop in three months.
FHFA, GSEs Extend COVID-19 Multifamily Forbearance through Sept. 30
The Federal Housing Finance Agency on Thursday said Fannie Mae and Freddie Mac will continue to offer COVID-19 forbearance to qualifying multifamily property owners through September 30
Despite Quarterly Decline, IMB Production Profits Post Record 1st Quarter
Independent mortgage banks and mortgage subsidiaries of chartered banks reported a net gain of $3,361 on each loan they originated in the first quarter, down from $3,738 per loan in the fourth quarter but still the highest first-quarter net gain in the history of the Mortgage Bankers Association’s Quarterly Mortgage Bankers Performance Report.
MBA, Trade Groups File Amicus Brief in Fair Debt Collections Court Case
The Mortgage Bankers Association and six other industry trade groups filed an amicus brief last week in a court case that could have profound consequences on mortgage debt collection processes.
MBA: CMF Mortgage Delinquencies Decline to Lowest Level Since Pandemic
Delinquency rates for mortgages backed by commercial and multifamily properties continue to decline, according to two reports released Thursday by the Mortgage Bankers Association.
As Hurricane Season Starts, 31 Million Homes ID’d as ‘High-Risk’
June 1 marked the start of the 2021 hurricane season. The National Oceanic and Atmospheric Administration projected another “above-normal” season, with as many as 20 named storms, 6-10 hurricanes and 3-5 major hurricanes (Category 3 or higher).
Quote
“Such restrictions on debt collection practices harm creditors and consumers—particularly consumers who have the greatest need for credit. In short, consumers will suffer under the panel’s decision. While the impacts to the loan servicing industry could be devastating to thousands of Americans employed in it, it will be just as devastating for consumers and their communities.”
–From an MBA/trade group amicus brief in a U.S. Appeals Court case that challenges collections practices under the Fair Debt Collection Practices Act.
Tom Lamalfa: May 2021 MBA Spring Conference Survey
In early May I surveyed 33 senior executives from 33 separate mortgage companies about a myriad of issues and topics both germane and important to the mortgage banking industry. It was the 25th time such a survey was conducted by me since 2008.
Omar Jordan of LenderClose on the Evolving Home Equity Loan Market
Omar Jordan is Founder and CEO of LenderClose, West Des Moines, Iowa, a fintech that equips loan originators with the workflows needed to boost efficiencies and shorten the lending cycle through streamlined and meaningful integrations.