CoreLogic, Irvine, Calif., said on a national level, 6.1% of mortgages were in some stage of delinquency (30 days or more past due, including those in foreclosure) in October, a 2.4-percentage point increase from a year ago, when it was 3.7%.
Category: News and Trends
Pandemic Year Brings Huge Surge in ‘Million-Dollar Cities’
Move over, San Francisco Bay Area and New York City; you’ve got company—lots of it.
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“[Thursday’s] announcement preserves and extends a level playing field for lenders of all sizes and business models while avoiding near-term measures that could have threatened market stability. MBA has cautioned that a premature release of the GSEs from conservatorship could roil the mortgage market, hurting borrowers, savers and investors and harming a fragile economy still recovering from the ravages of the pandemic.”
–MBA President & CEO Robert Broeksmit, CMB
Michael Steer: A New Year, A New Regulatory Attitude?
Lenders can adapt the current pandemic regulatory attitude into one that pays equal mind to both the pandemic and the importance of compliance.
David Olson and Kimberly Browne of Chrysalis Holdings LLC on Mortgage Capital Markets
MBA NewsLink posed questions to David Olson, Chairman of Chrysalis Holdings LLC, Washington, D.C., and Kimberly Browne, the company’s President.
MBA: Share of Loans in Forbearance Drops to 5.46%
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans now in forbearance decreased to 5.46% of servicers’ portfolio volume as of Jan. 3 compared to 5.46% the prior week. MBA estimates 2.7 million homeowners are in forbearance plans.
MBA: December Commercial/Multifamily Mortgage Delinquencies Rise
Delinquency rates for mortgages backed by commercial and multifamily properties Increased for the second month in a row in December, according to the Mortgage Bankers Association’s latest monthly MBA CREF Loan Performance Survey.
FHFA Announces GSE ‘Duty to Serve’ 2021 Market Plans
The Federal Housing Finance Agency on Jan. 6 published the 2021 Underserved Markets Plans for Fannie Mae and Freddie Mac under the Duty to Serve program. The Plans became effective Jan. 1.
Zillow: Racial Home Value Disparities Shrinking, But Persist
Zillow, Seattle, said typical values for Black- and Latino-owned homes still lag behind overall U.S. home values, but the gap is narrowing.
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“For several months, delinquency rates declined as the economy stabilized. But more recently, the added stress from a winter wave of the virus has weakened the economy and challenged some owners, as property income has been disrupted. The roll-out of multiple COVID-19 vaccines is good news for the long-term, but last month’s rise in commercial mortgage delinquencies reinforces that many challenges remain between now and when the economy can fully reopen.” –Jamie Woodwell, MBA Vice President of Commercial Real Estate Research
