Category: News and Trends

With the spring home buying season showing some signs of promise–but with construction still at depressed levels–several reports suggest many would-be move-up homeowners are turning to remodeling in the short term.

Black Knight, Jacksonville, Fla., said mortgage delinquencies rose in February, the first increase in that month in 12 years.

ACES Risk Management, Pompano Beach, Fla., said its Critical Defect Rate rose in the third quarter of last year to its second-highest level since the TILA/RESPA Integrated Disclosure rule went into effect.

A quarterly survey of 100 economists by Zillow Inc., Seattle, and Pulsenomics LLC found with climate change and natural disasters posing a growing threat to communities across the United States, funding for preventative measures and construction regulations makes better sense than the government providing or requiring insurance.

National Mortgage News, Mar. 12, 2019–Brad Finkelstein (subscription)The Securities Industry and Financial Markets Association approved changes to its good delivery guidelines that ease the path to the government-sponsored enterprises issuing uniform mortgage-backed securities starting on June 3.

Commercial and multifamily mortgage delinquencies remained at a low rate in the final three months of 2018, according to the Mortgage Bankers Association’s 4th Quarter Commercial/Multifamily Delinquency Report.

Fannie Mae and Freddie Mac yesterday announced they will begin accepting forward Uniform Mortgage-Backed Security trades with a trade date on or after March 12 and settlement dates on or after June 3.

CoreLogic, Irvine, Calif., said despite elevated delinquency rates in areas affected by hurricanes and wildfires, overall delinquency and foreclosure rates fell to levels not see since 2000.

The commercial mortgage-backed securities delinquency rate crossed another threshold in February, falling below 3 percent for the first time since May 2009, reported Trepp, New York.

CoreLogic, Irvine, Calif., said while U.S. homeowners with mortgages saw their equity increase in the fourth quarter, the number of homeowners with negative equity increased for the first time in three years.