Category: News and Trends

Genworth Mortgage Insurance, Richmond, Va., said despite slowing home sales, first-time homebuyer purchase grew in the second quarter, with conventional mortgages using private mortgage insurance becoming the largest source of credit to first-timers.

S&P Dow Jones Indices and Experian, New York, reported credit default rates for first mortgages and other forms of consumer credit were relatively unchanged in July.

Black Knight, Jacksonville, Fla., said continued hurricane-related cure activity pushed delinquencies to their lowest level in more than 12 years, although foreclosures rose to a three-month high.

The Mortgage Bankers Association offered recommendations to the Rural Housing Service as it mulls changes to its Single-Family Housing Guaranteed Loan Program/Single Close Combination Construction to Permanent Loans program.

The persistent lack of adequate housing inventory in the U.S. has its roots in the 2007-2008 financial crisis, said Zillow Inc., Seattle.

Economists have found many ways to quantify the economic effects of the 2007-2008 financial crisis, but one number in particular stands out: $70,000.

Ahead of Thursday’s release of the Mortgage Bankers Association’s National Delinquency Survey, CoreLogic, Irvine, Calif., said overall foreclosure and delinquency rates fell to 12-year lows. But it also noted 2018 wildfires in California and other western states are “outpacing” the devastating fires of 2017, putting potentially thousands of mortgages at risk.

The Bureau of Consumer Financial Protection (Consumer Financial Protection Bureau) on Friday finalized amendments to implement legislation that allows financial institutions that meet certain requirements to be exempt from sending annual privacy notices to their customers.

ATTOM Data Solutions, Irvine, Calif., reported 5.5 million U.S. properties as “seriously underwater” in the second quarter, representing 10.1 percent of all properties with a mortgage.

Commercial property market supply and demand fundamentals remained relatively stable in the first quarter, said Moody’s Investors Service, New York.