Category: News and Trends

First American Financial Corp., Santa Ana, Calif., said its monthly Loan Application Defect Index declined nationally from a year ago, but cautioned that properties damaged by California’s devastating wildfires this summer will likely increase loan defect risk in the near future.

The Federal Housing Finance Agency reported Fannie Mae and Freddie Mac sold 1,740 non-performing loans in the first half of 2018.

Delinquency rates for commercial and multifamily mortgage loans remained low in the third quarter, according to the Mortgage Bankers Association’s latest Commercial/Multifamily Delinquency Report.

After a brief uptick in October the commercial mortgage-backed delinquency rate resumed its long-term downward trajectory in November, reported Trepp LLC, New York.

Several factors could trigger the next recession, but it’s unlikely a sharp downturn in commercial real estate will be the cause, said Wells Fargo Securities, Charlotte, N.C.

The Mortgage Bankers Association weighed in yesterday on proposed changes to the High Volatility Commercial Real Estate risk-based capital rule, offering recommendations on implementation issues and expressing concerns about certain rule interpretations.

The Federal Housing Finance Agency yesterday announced a nearly 7 percent increase in conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac in 2019.

Black Knight, Jacksonville, Fla., said seriously past-due loans fell to pre-recession levels as October mortgage delinquencies fell by nearly 18 percent from a year ago, while foreclosure starts saw an uptick.

The Mortgage Bankers Association and 30 industry trade groups sent a letter to Senate leaders urging approval of Michael Bright as Ginnie Mae President.

The Mortgage Bankers Association and 30 industry trade groups sent a letter to Senate leaders urging approval of Michael Bright as Ginnie Mae President.