Category: News and Trends

Ellie Mae, Pleasanton, Calif., said the percentage of refinances rose in December, the result of low interest rates and a lack of purchase inventory.

The Mortgage Bankers Association sent a letter of support for a House bill that would provide exemptions for key mortgage products and lenders who originate them.

ATTOM Data Solutions, Irvine, Calif., released its Year-End 2017 U.S. Foreclosure Market Report, which shows foreclosure filings fell by 27 percent from 2016 and down by 76 percent from its peak to the lowest level since 2005.

S&P Dow Jones Indices and Experian, New York, said its Consumer Credit Default Indices jumped in December to its highest level since March, with the bank card default rate rising by 16 basis points.

Equifax, New York, said total first mortgages through the third quarter rose to 4.85 million, a year-over-year increase of 9.9 percent.

The commercial mortgage-backed securities delinquency rate continues to decline–largely due to strong new issuance, continued resolution activity and the slowing pace of new delinquencies–reported Fitch Ratings, New York.

Zillow Inc., Seattle, said buyers paid more than the asking price in 24 percent of U.S. home sales in 2017, netting sellers an additional $7,000 each on average.

Six months after devastating hurricanes hit Texas, Florida and Puerto Rico, homeowners, mortgage lenders and servicers continue to feel residual effects.

Basel III and ongoing regulatory scrutiny led big U.S. banks further away from servicing residential mortgage loans as non-banks swooped in and beefed up their portfolios, said Fitch Ratings, New York, in its latest U.S. residential mortgage-backed securities servicer handbook.

Morningstar Credit Ratings, New York, said lease expirations across single-borrower, single-family rental securitizations declined to 5.2% in November while the average retention rate of expiring leases improved to 79.3%.