CoreLogic, Irvine, Calif., reported an increase in overall mortgage delinquency rates in July—and in particular, a spike in serious delinquencies to their highest level in more than six years.
Category: News and Trends
National Association of Insurance Commissioners Adopts MBA/ACLI Proposals
A National Association of Insurance Commissioners working group adopted risk-based capital guidance and reporting instructions to implement the Mortgage Bankers Association/American Council of Life Insurers-proposed Risk-Based Capital reporting of 2020 Net Operating Income.
MBA Urges FHFA to Extend Current GSE Affordable Housing Goals
The Mortgage Bankers Association, in a letter this morning to the Federal Housing Finance Agency, said FHFA should extend current affordable housing goals for Fannie Mae and Freddie Mac, given current economic uncertainty.
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“Nearly two-thirds of borrowers who exited forbearance remained current on their payments, repaid their forborne payments or moved into a payment deferral plan. All of these borrowers have been able to resume – or continue – their pre-pandemic monthly payments.”
–MBA Chief Economist Mike Fratantoni.
MBA: Share of Mortgage Loans in Forbearance Drops to 6.32%
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans now in forbearance decreased by 49 basis points to 6.32% of servicers’ portfolio volume in the prior week as of October 4 from 6.81% the previous week. MBA estimates 3.2 million homeowners are in forbearance plans.
Join the Radian Everyday Heroes Challenge, Benefiting the MBA Opens Doors Foundation
This year, as part of the MBA Annual Convention & Expo and ConcertMBA, Radian has launched the Radian Everyday Heroes Challenge, which celebrates the heroes among us who are making a positive impact, while also supporting the MBA Opens Doors Foundation.
What to Expect When Expecting Distress: A Servicer Roundtable
As COVID-19 and government responses continue to drive uncertainty around outcomes and outlooks, MBA Newslink interviewed senior professionals from a credit rating agency and several highly rated servicers to get their perspective on forbearance, loan workouts and portfolio management challenges for agency and non-agency CMBS.
The World is Changing: is Real Estate Ready?
It’s safe to say 2020 has been one “hold my beer” moment after another. And the real estate finance industry, says States Title, San Francisco, had better be prepared for more changes—or risk obsolescence.
Reports Cite ‘Disproportionate’ Housing Impacts for Women, Minorities
Women and minorities still face “disproportionate” housing impacts, two new reports said.
CFPB Rescinds RESPA Section 8 Compliance Bulletin
In another victory for Mortgage Bankers Association member advocacy, the Consumer Financial Protection Bureau on Oct. 7 rescinded a controversial Compliance Bulletin on prohibition of kickbacks and referral fees under the Real Estate Settlement Procedures Act.