Black Knight, Jacksonville, Fla., said the national delinquency rate rose to 4.73% from 4.66% in April, although the increase was driven largely by the three-day Memorial Day weekend foreshortening available payment windows.
Category: News and Trends
Despite Record Low Rates, Most Homeowners Pass on Refinancing
A Zillow survey of more than 1,300 homeowners found despite record low interest rates, more than three-fourths of respondents passed up the opportunity to refinance their mortgage.
Supreme Court Rules FHFA Director ‘Removable at Will;’ Calabria Out
The Supreme Court on Wednesday ruled that the structure of the Federal Housing Finance Agency is unconstitutional, allowing the President to remove its director at will. Shortly after the ruling, The Biden Administration removed Mark Calabria as FHFA Director.
CDC Extends National Residential Eviction Moratorium for Final Time to July 31
The Centers for Disease Control and Prevention on Thursday extended its nationwide residential eviction moratorium by another month, to July 31.
Biden Administration Nominates Julia Gordon as FHA Commissioner; Dave Uejio as HUD Assistant Secretary
The Biden Administration on Friday nominated Julia Gordon as FHA Commissioner and announced Dave Uejio, who has been serving as Acting Director of the Consumer Financial Protection Bureau, has been nominated as HUD Assistant Secretary for Fair Housing and Equal Opportunity.
White House Names Sandra L. Thompson Acting FHFA Director
The White House appointed Sandra L. Thompson as Acting Director of the Federal Housing Finance Agency effective immediately.
TransUnion: Majority of Consumers in Accommodation Programs Continue to Make Payments
Enrollment in financial hardship programs grew significantly as a result of the COVID-19 pandemic – to 7% of all accounts for credit products such as auto loans and mortgages. However, a new TransUnion study reported the majority of consumers continued to make payments on their accounts, even when in an accommodation program.
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“MBA recognizes and appreciates the impact of the Supreme Court’s decision in Collins v. Yellen as FHFA plays a critical role regulating entities that ensure liquid markets for single-family and multifamily mortgages…we look forward to working collaboratively with the administration, FHFA and other stakeholders to ensure those markets function well for lenders and the American consumers they serve.”
–MBA President & CEO Robert Broeksmit, CMB.
ACES: Q4 Critical Defect Rate Moderates, But Remains High
ACES Quality Management, Denver, said overall critical defect rates improved in the fourth quarter but remained high for calendar year 2020.
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.