Category: News and Trends

Mortgage Bankers Association Chairman-Elect Chris George, in testimony yesterday before a House subcommittee, offered the association’s support for two bills he said offer “practical solutions to improve the efficiency of mortgage market regulations.”

Home flipping is still a lucrative business–just not quite as lucrative as it was a year ago.

The Senate Banking Committee yesterday approved a Mortgage Bankers Association-supported bill that would offer substantial regulatory relief on a number of fronts.

The Federal Housing Finance Agency last week raised maximum conforming loan limits for mortgages to be acquired by Fannie Mae and Freddie Mac for the second year in a row.

Just more than 150 commercial mortgage-backed securities loans liquidated with a 42.8 percent weighted-average loss severity during the third quarter–up slightly from 42.5 percent in the quarter before–reported Moody’s, New York.

Independent mortgage banks and mortgage subsidiaries of chartered banks reported a net gain of $929 on each loan they originated in the third quarter, down from $1,122 per loan in the second quarter, the Mortgage Bankers Association reported Thursday.

Delinquency rates for commercial and multifamily mortgage loans held steady in the third quarter, with delinquency rates for loans held in bank portfolios reaching a 24-year low, the Mortgage Bankers Association reported this morning.

S&P Dow Jones Indices and Experian, New York, said their Consumer Credit Default Indices rose for the fourth consecutive month in October.

The Mortgage Bankers Association called on the Senate to fix a controversial provision in the Senate tax bill that would require any item of income that an accrual taxpayer recognizes for accounting purposes, including mortgage servicing rights, also be recognized for tax purposes.

Fannie Mae and Freddie Mac multifamily lending caps will shrink slightly in 2018, the Federal Housing Finance Agency announced yesterday.