Loans in forbearance continued their downward trend, the Mortgage Bankers Association reported Monday, and the number of homeowners in forbearance plans fell below 1.5 million.
Category: News and Trends
RMQA21 Fraud Update: ‘Be Alert For Red Flags’
WASHINGTON, D.C.–The mortgage industry needs to be prepared for increased fraud activity as the pandemic and the recession fade, law enforcement, legal and mortgage servicing analysts said at the recent Mortgage Bankers Association’s Risk Management, QA and Fraud Prevention Forum 2021.
RMQA21: Pandemic Saw Changes in Consumer Behavior—Most of it Good
WASHINGTON, D.C.—The economy continued to improve in 2021, fueled by record consumer savings and strong gains in employment, despite the coronavirus pandemic that could have otherwise ground it to a halt, said Emre Sahingur, Senior Vice President of Predictive Analytics with VantageScore Solutions LLC, Stamford, Conn.
Jeff Williams of FICS: Support Strategic Planning with Audit of Mortgage Software, API Capabilities
Leaders need to include software audits in their strategic planning process. A good software audit sets the stage for effective budgeting and decision making this fall. Leaders should analyze the company’s current Application Programming Interface integrations to existing mortgage software.
CMBS Delinquency Rate Shrinks, Cumulative Default Rate Increases
The commercial mortgage-backed securities delinquency rate continues to shrink, but the cumulative loan default rate increased slightly in first-half 2021, according to two new reports from S&P Global Ratings and Fitch Ratings.
CoreLogic Report Finds Idaho, Wyoming at Disproportionate Economic Risk for Wildfire
You’d think that when analyzing wildfire risk, California would be at the top. But a CoreLogic analysis of additional factors, such as reconstruction resources and economic recovery potential, found that Idaho and Wyoming are the states at most risk.
Broeksmit: MBA ‘Working Hard for You’
Mortgage Bankers Association President & CEO Robert Broeksmit, CMB, kicked off the MBA Risk Management, QA and Fraud Prevention Forum with a tacit acknowledgement that the past year has been the busiest for the real estate finance industry in years.
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“The mortgage industry will not be spared by the growing impact climate change is having on the environment, governments and individuals…Climate mitigation efforts are necessary to slow the adverse effects of global warming, and better and more standardized predictors of environmental risks are needed to make housing and housing finance more resilient.”
–Sean Becketti, author of a RIHA report on the effects on climate change on the real estate finance industry.
FHA Adds COVID-19 Forbearance Relief Options
The Federal Housing Administration on Sept. 27 announced new and extended COVID-19 relief options for borrowers recently or newly struggling to make their mortgage payments because of the pandemic and for senior homeowners with Home Equity Conversion Mortgages who need assistance to remain in their homes.
MBA: 2Q Commercial/Multifamily Mortgage Debt Outstanding Up 1.5%
Commercial/multifamily mortgage debt outstanding increased by $60.7 billion (1.5 percent) in the second quarter, according to the Mortgage Bankers Association’s latest Commercial/Multifamily Mortgage Debt Outstanding report.