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.
Category: News and Trends
MBA: 3Q Independent Mortgage Bank Production Profits Down
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.
MBA: 3Q CMF Delinquencies Remain Low; Bank Delinquencies Match Lowest on Record
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/Experian: Composite Default Rates Higher for 4th Straight Month
S&P Dow Jones Indices and Experian, New York, said their Consumer Credit Default Indices rose for the fourth consecutive month in October.
MBA Calls on Senate to Fix Tax Bill Treatment of MSRs
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.
FHFA Shrinks Fannie Mae, Freddie Mac Multifamily Lending Caps
Fannie Mae and Freddie Mac multifamily lending caps will shrink slightly in 2018, the Federal Housing Finance Agency announced yesterday.
Survey: Default Servicers Investing in REO Improvements
The vast majority of servicing professionals said their organization is currently investing to improve the condition of REO properties under management and most said their organization is currently making a significant investment, said Altisource Portfolio Solutions S.A., Luxembourg.
House Passes Bill Overhauling Flood Insurance Program
The House on Tuesday approved legislation overhauling the National Flood Insurance Program, a key plank in the Mortgage Bankers Association’s legislative agenda this year.
CoreLogic: Delinquency Rates Lowest in More Than a Decade
CoreLogic, Irvine, Calif., said mortgage delinquency rates fell to their lowest levels since 2007 in the third quarter and foreclosure inventory rate fell to its lowest level since 2006.
MBA Provides Tax Reform Legislation Summary Guide
The Mortgage Bankers Association has created a summary that compares Senate and House versions of tax reform legislation currently wending through Congress.