Category: News and Trends

CoreLogic, Irvine, Calif., released its quarterly Mortgage Fraud Report, showing an 11.4% year-over-year decrease in fraud risk at the end of the second quarter.

The commercial mortgage-backed securities delinquency rate fell again in August, setting another post-crisis low in the process, reported Trepp LLC, New York.

Black Knight, Jacksonville, Fla., said falling interest rates and easy access to refinance candidates pushed retention rates up in second quarter, with servicers retaining 24% of refinancing borrowers, the highest such retention rate since late 2017.

The Mortgage Bankers Association released its mid-year rankings of commercial and multifamily mortgage servicers’ volumes as of June 30, showing Wells Fargo Bank NA, PNC Real Estate/Midland Loan Services, KeyBank NA, Berkadia Commercial Mortgage LLC and CBRE Loan Services with highest volumes.

Slow-moving, powerful Hurricane Dorian has dominated the news for nearly two weeks; now, as it moves off the East Coast and into history, analysts have begun to assess its impact.

Ellie Mae, Pleasanton, Calif., said falling interest rates in July led to an increase in Millennial refinance activity.

Auction.com, Irvine, Calif., said 56 percent of properties sold to third parties at foreclosure auction were owner-occupied one year after the foreclosure auction date, compared to 43 percent of properties that reverted to the lender.

Home equity loan debt outstanding and borrower utilization rates declined in 2018, and mortgage lenders anticipate mixed activity this year and only modest increases in originations in 2020, the Mortgage Bankers Association reported yesterday.

Multifamily fundamentals remain healthy, demonstrated by record second quarter absorption. But the sector faces some threats, analysts said.

The refinance mini-boom has been good news for lenders; it’s also been good news in deterring mortgage defects and fraud, according to First American Financial Corp., Santa Ana, Calif.