Commercial/multifamily mortgage debt outstanding increased by $44.3 billion in the first quarter as all four major investor groups increased their holdings, the Mortgage Bankers Association reported this morning.
Category: News and Trends
CMBS Loss Severities Drop, Resolutions Shorten
U.S. commercial mortgage-backed securities loan loss severities dropped last year despite a backlog of maturing loans from the 2007 vintage, reported Fitch Ratings, New York.
MBA Voices Support for False Claims Act Reform Bill
The Mortgage Bankers Association threw its support behind legislation that would clarify how FHA-insured loans are treated under the False Claims Act.
Black Knight: May Foreclosure Starts Lowest in 17 Years
Black Knight, Jacksonville, Fla., reported 44,900 foreclosure starts in May, the second-lowest such measure in more than 17 years.
MBA Urges Clarity to CFPB LO Comp Rule, QM Requirements
The Mortgage Bankers Association, in a letter to the Consumer Financial Protection Bureau, urged the Bureau to make changes to its Loan Officer Compensation Rule for clarity and simplicity and to make adjustments so that more creditworthy borrowers can be eligible for Qualified Mortgage loans.
Harvard Joint Center: Improvement in Housing Market, But Much Has Worsened
In its 30th annual edition, the Harvard Joint Center for Housing Studies State of the Nation’s Housing Report said while the U.S. housing market appears to be on “sound footing,” opportunities for low-income and medium-income households have worsened, with the gap between white and black homeownership widening further.
MBA, Trade Groups Ask CFPB for Multifamily Exemption to HMDA Reporting
The Mortgage Bankers Association and other industry trade groups urged the Consumer Financial Protection Bureau to narrow its definition of financial institutions subject to the Home Mortgage Disclosure Act reporting by exempting transactions secured by multifamily properties.
‘Tappable’ Equity Up 16% in 1Q
Black Knight, Jacksonville, Fla., said “tappable equity”–the share of home equity available for homeowners with mortgages to borrow against–grew by more than 16 percent from a year ago.
Report Says 2.5 Million Homes, Businesses Totaling $1 Trillion Threatened by High Tide Flooding
The Union of Concerned Scientists said climate change is putting coastal communities at huge risk–to the tune of more than $1 trillion.
MBA Urges CFPB to Develop ‘Rule on Rules’
The Mortgage Bankers Association, in a letter last week to the Consumer Financial Protection Bureau, urged the Bureau to develop, propose, and adopt standards and requirements to govern its own provision of rules and guidance–in essence, a “rule on rules.”