Category: News and Trends

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.

The Federal Housing Finance Agency extended the public comment period for the Agency’s proposed rule on Enterprise Capital Requirements by an additional 60 days, citing “high level of interest in the proposed rule and requests from multiple stakeholders for more time to evaluate it.”

The commercial mortgage-backed securities delinquency rate is likely to fall further to finish 2018 between 2.25 percent and 2.75 percent, said Fitch Ratings, New York.

Despite substantial investments in technology aimed at improving the mortgage servicing experience, overall mortgage servicer satisfaction has been flat so far in 2018, said J.D. Power, Costa Mesa, Calif.

U.S. non-bank residential mortgage-backed securities servicers are moving away from servicing delinquent borrowers and setting their sights increasingly on Fannie Mae, Freddie Mac and Ginnie Mae loans, said Fitch Ratings, New York.

Homeowners are expected to increase spending on improvements and repairs at a solid clip over the coming year, according to the Joint Center for Housing Studies of Harvard University, Cambridge, Mass., and the National Association of Home Builders.

With a July 31 expiration date for the National Flood Insurance Program looming, the House yesterday passed a bill that would give the program a bit more breathing room.