Black Knight, Jacksonville, Fla., said after rising from 3.2% in January to 7.8% in May, the national delinquency rate improved for the first time in five months, falling to 7.6% in June as the overall number of past-due mortgages declined by 98,000.
Category: News and Trends
Second-Quarter Home Seller Profits Rise to 36%
ATTOM Data Solutions, Irvine, Calif., said its second-quarter 2020 U.S. Home Sales Report showed home sellers nationwide realized a gain of $75,971 on the typical sale, up from the $66,500 in the first quarter and from $65,250 a year ago.
Keeping Current With Midland Loan Services’ Tim Steward
MBA NewsLink interviewed Timothy E. Steward, Senior Vice President and co-head of Midland Loan Services, a PNC Real Estate business. Steward leads a team of more than 500 professionals responsible for delivering loan servicing, asset management and technology solutions to the commercial real estate finance industry.
Maurice Jourdain-Earl of ComplianceTech on CARES Act Relief and Racial Disparities in Mortgage Forbearance
MBA NewsLink talked with Maurice Jourdain-Earl, Managing Director of ComplianceTech, McLean, Va., a provider of software and services to enable fair and responsible lending compliance. He is a noted speaker and writer on HMDA and fair lending practices and has appeared frequently at MBA events and sits on MBA’s member-led Diversity & Inclusion Advisory Committee.
FHFA Leaves 2021 GSE Housing Goals Unchanged
With current housing goals set to expire in December, and amid economic uncertainty stemming from the lingering coronavirus pandemic, the Federal Housing Finance Agency yesterday left 2021 housing goals for Fannie Mae and Freddie Mac unchanged from the previous three years.
Share of Mortgage Loans in Forbearance Falls for Fifth Straight Week
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans in forbearance decreased by 38 basis points to 7.80% of mortgage servicers’ portfolio volume as of July 12, from 8.18% the prior week. MBA estimates 3.9 million homeowners are in forbearance plans.
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“Now is the time to scrutinize existing programs to expand those that work and fix or discard those that do not. Now is the time to work together to develop new approaches that leverage technology and creativity to close the minority homeownership and wealth gaps.”
–MBA President and CEO Robert Broeksmit, CMB, in a letter to HUD Secretary Ben Carson asking HUD to delay proposed changes to its disparate impact rule.
MBA Asks HUD to Withhold Publication of Final Disparate Impact Rule
The Mortgage Bankers Association asked HUD to withhold publication of its final disparate rule, citing “legitimate concerns” that the rule erodes protections needed to combat housing discrimination and systemic inequality.
MISMO Launches Initiative to Facilitate Servicing Transfers
MISMO®, the mortgage industry’s standards organization, is seeking industry participants to collaborate on a new initiative to facilitate servicing transfers.
FHA Proposes Streamlined Single-Family Servicing Policies; CFPB Touts Benefits of Credit Builder Loans
The Federal Housing Administration last week published proposed revisions to its Single-Family servicing policies, designed to remove “unnecessary barriers” for homeowners seeking mortgage payment relief, achieve operational consistency with industry standard best practices and reduce burdens incurred by the industry when servicing an FHA-insured mortgage portfolio.