Seventy-seven percent of U.S. mortgage holders say the size of their mortgage has a negative impact on their ability to save money for the future, according to a survey by Bankrate.com, New York.
Category: News and Trends
Nearly 100,000 Homeowners Regained Positive Equity in Fourth Quarter
CoreLogic, Irvine, Calif., said the number of Americans with negative equity in their homes fell to the lowest level since before the Great Recession, with 96,000 homeowners regaining equity in the fourth quarter.
Portfolio Risk Management: Repurchase Risk for Non-QM Mortgages
In the wake of the 2008 global financial crisis, many risk managers in the mortgage issuance industry were caught flat-footed with representations and warranties exposure, also commonly known as repurchase exposure. R&W agreements often require the issuer of mortgages to repurchase the loans and make whole the investors if the loans are found to breach the seller guidelines.
CoreLogic: December U.S. Delinquency Rate Lowest in 20 Years
CoreLogic, Irvine, Calif., reported just 3.7% of mortgages in some stage of delinquency in December, the lowest for a December in more than 20 years.
MBA, Trade Groups Urge Congress to Ban GSE G-Fee Offsets
The Mortgage Bankers Association and nearly three dozen other industry trade groups, in a Mar. 6 letter to House and Senate leadership, urged Congress to continue to prevent use of Fannie Mae and Freddie Mac guarantee fees as a source of funding offsets.
CFPB Implements Advisory Opinion Program, Amends ‘Responsible Business Conduct’ Bulletin
The Consumer Financial Protection Bureau on Friday announced several Mortgage Bankers Association-recommended steps to offer clear guidance to lenders and servicers.
MBA, Trade Groups Renew Pressure for Senate Action on Montgomery, Woll Nominations
Last October, the Trump Administration nominated FHA Commissioner Brian Montgomery to serve as HUD Deputy Secretary. Despite a favorable vote by the Senate Banking Committee and strong support from trade groups such as the Mortgage Bankers Association, a Senate confirmation vote has yet to take place.
2019 Home-Flipping Reaches 8-Year High; Returns at 8-Year Low
ATTOM Data Solutions, Irvine, Calif., released its year-end 2019 U.S. Home Flipping Report, which showed 245,864 single family homes and condos in the United States flipped in 2019, up 2 percent from 2018 to the highest point since 2006.
Mortgage Fraud Risk Falls to New Low
First American Financial Corp., Santa Ana, Calif., said frequency of defects, fraudulence and misrepresentation in the information submitted in mortgage loan applications decreased by 3.0 percent from December to the lowest level since the company began tracking such data in 2011.
Auction.com: Most Default Servicers Expect 2020 Foreclosures to Increase
Auction.com, Irvine, Calif., said its 2020 Default Servicing Insights report found while most respondents said they do not expect an economic recession in 2020, two-thirds expect their foreclosure and REO inflow to increase and 89 percent expect an increase in foreclosure and REO inflow from government-insured loans.