Category: News and Trends

A federal mediator on Friday said HUD and Quicken Loans Inc., Detroit, settled an acrimonious lawsuit accusing Quicken of violating the False Claims Act.

Despite a broad economic expansion following the Great Recession, lack of savings paints a disconcerting picture about financial preparedness in America, said Northwestern Mutual, Milwaukee, with nearly a third of U.S. adults within three paychecks of needing to either borrow money or skip paying one or more bills.

Institutional investors lowered their expectation for commercial real estate returns, the Pension Real Estate Association’s Consensus Forecast Survey reported yesterday.

The Mortgage Bankers Association and a half-dozen other industry trade groups urged the Consumer Financial Protection Bureau to increase the threshold for reporting Home Mortgage Disclosure Act data on closed-end mortgage loans.

CoreLogic, Irvine, Calif., said 4% of mortgages were in some stage of delinquency (30 days or more past due, including those in foreclosure) in March, an 0.3 percentage point decline from a year ago to the lowest March rate in 13 years.

Ginnie Mae, Washington, D.C. yesterday released a progress update to its Ginnie Mae 2020 white paper, detailing strides the agency has made toward modernizing its mortgage-backed securities platform, enhancing counterparty risk management and fostering improvements to its program.

Commercial/multifamily mortgage debt outstanding rose by 1.3 percent ($45.4 billion) in the first quarter, the Mortgage Bankers Association reported this morning.

CoreLogic, Irvine, Calif., said 17,000 residential properties regained equity in the first quarter, bringing the total number of mortgaged homes in negative equity to 2.2 million, or 4.1 percent of all mortgage properties.

Commercial and multifamily mortgage delinquencies fell to near-record lows in the first quarter, the Mortgage Bankers Association reported.

With discontinuation of the London Interbank Offered Rate likely ahead, the Mortgage Bankers Association yesterday released a disclosure template for residential mortgage lenders to share with consumers interested in applying for an adjustable-rate mortgage.