Low-to-moderate income consumers have traditionally been overlooked in the mortgage market and trail non-LMI consumers in terms of homeownership. A new study from TransUnion, Chicago, suggests closing this gap could yield mortgage lenders as much as ~$300 billion in refinance and purchase originations.
Category: News and Trends
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“More than 25% of loans in forbearance are now made up of new forbearance requests and re-entries, while many other homeowners who have reached the end of 18-month terms are successfully exiting into deferrals or modifications.”
–MBA Chief Economist Mike Fratantoni.
‘Together Again’—and Not a Moment Too Soon
SAN DIEGO—For the first time in two years, the Mortgage Bankers Association is holding a live Annual Convention & Expo. And MBA President & CEO Bob Broeksmit, CMB, had a message for the nearly 3,500 in attendance.
MBA Launches Member Action Pledge to Promote Minority Homeownership, Affordable Rental Housing, DEI
SAN DIEGO—Mortgage Bankers Association Chairman Kristy Fercho on Monday announced the Home for All Pledge, an MBA member company action pledge to promote minority homeownership, affordable rental housing and company diversity, equity and inclusion.
Share of Mortgage Loans in Forbearance Decreases to 2.28%
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans in forbearance decreased by 34 basis points to 2.28% as of October 10.
HUD, FHFA Heads Zero in On Housing Affordability, Appraisals
SAN DIEGO—Few people have had the kind of impact off the bat than HUD Secretary Marcia Fudge and Federal Housing Finance Agency Acting Director Sandra Thompson.
MBA Forecast: 2022 Purchase Originations to Increase 9% to Record $1.7 Trillion
SAN DIEGO–The Mortgage Bankers Association said purchase mortgage originations are expected to grow 9% to a record $1.725 trillion in 2022.
Freddie Mac: Single Women Have Low Confidence in Homeownership Prospects
Freddie Mac, McLean, Va., reported nearly 60 percent of single female head-of-household renters feel homeownership is out of reach indefinitely.
ATTOM: Foreclosure Activity Sees Uptick as Moratoria Lift
ATTOM, Irvine, Calif., said third-quarter foreclosure filings rose by 34 percent from the second quarter and by 68 percent from a year ago.
FHFA Increases Fannie Mae, Freddie Mac Multifamily Loan Purchase Caps
The Federal Housing Finance Agency on Wednesday increased the 2022 multifamily loan purchase caps for Fannie Mae and Freddie Mac to $78 billion each.