MBA NewsLink recently interviewed Toby Wells, president of Cornerstone Servicing, Englewood, Colo. a residential loan subservicer and division of Cornerstone Capital Bank, SSB. Wells has nearly 30 years of experience spanning mortgage servicing, originations, capital markets and asset management.
Category: News and Trends
Harvard JCHS Projects Continued Gains for Remodeling Amid Economic Uncertainty
Annual expenditures for improvements and maintenance to owner-occupied homes should grow modestly through 2026, according to the Joint Center for Housing Studies of Harvard University.
ValuePenguin: Two-Thirds of Home Insurance Policyholders Say Rates Rose Last Year
ValuePenguin, a division of LendingTree, Charlotte, N.C., released a new survey finding that two in three home insurance policyholders say their rates rose in 2024.
Auction.com: Foreclosure Auction Volume Hits Six-Quarter High in Q1
Auction.com, Irvine, Calif., found foreclosure auction volume was up 4% annually in the first quarter, to notch a six-quarter high.
Chart of the Week: Monthly Payroll Growth, Unemployment Rate and Average Hourly Earnings
The April Employment Situation report showed that the job market continues to hold up.
VantageScore: Credit Scores Recover Overall, but Mortgage Delinquencies Grow
VantageScore, San Francisco, released its CreditGauge for March, finding that the average VantageScore 4.0 credit score returned to 702 after dipping slightly in February.
Recruiting Underway: President of MISMO, the Mortgage Industry’s Standards Development Organization
Are you a visionary leader passionate about driving transformative change? Do you thrive on shaping industries through innovation and collaboration?
U.S. Adds 177,000 Jobs in April; Industry Economists Weigh In
The U.S. Bureau of Labor Statistics reported that 177,000 jobs were added to total nonfarm payroll employment last month, with the unemployment rate flat at 4.2%.
Servicing Quote of the Week
“While rising home values can influence property taxes, they don’t automatically lead to higher bills for homeowners. In many areas, we’ve seen taxes increase not just due to property appreciation, but also because of growing costs to operate local governments and schools or shifts in how tax burdens are distributed.”
–Rob Barber, CEO at ATTOM
Milliman: Fourth-Quarter Mortgage Default Risk Decreases
Milliman, Seattle, found a slight decrease in the lifetime serious delinquency rate (for homes 180 days or more delinquent) for U.S.-backed mortgages.