Facing a July 31 expiration date for the National Flood Insurance Program, the Mortgage Bankers Association’s grassroots advocacy arm, the Mortgage Action Alliance, issued a Call to Action, urging its members to call their elected officials to vote on a long-term reauthorization.
Category: News and Trends
MBA Urges Overhaul of CFPB Complaint Database
The Mortgage Bankers Association said the Consumer Financial Protection Bureau’s consumer complaint and inquiry processes have resulted in “unwarranted regulatory burdens” for many financial services providers and asked the Bureau to develop new processes that properly define “complaints” and encourage consumers to resolve issues with providers before filing complaints.
ARMCO Notes ‘Significant Shift’ in Critical Defects Distribution
ACES Risk Management, Pompano Beach, Fla., released its quarterly Mortgage QC Trends Report, noting distribution of critical defects has “shifted significantly” from 2016 to 2017 as the housing market moves from refinances to purchases.
Foreclosure Filings Fall in 1H 2018; Down 15% From Year Ago
ATTOM Data Solutions, Irvine, Calif., released its Midyear 2018 U.S. Foreclosure Market Report, which shows 362,275 U.S. properties with foreclosure filings, including default notices, scheduled auctions or bank repossessions in the first six months of 2018, down 15 percent from the same period a year ago and down 78 percent from a peak of 1.654 million in the first six months of 2010.
Declining Mortgage Delinquency Rates as Hurricane-Impacted States Show Improvement
CoreLogic, Irvine, Calif., said mortgage delinquencies continued to decline in April, with only states affected by 2017 hurricanes lagging.
MBA, Trade Groups Urge Congress to Pass Long-Term Flood Insurance Extension
With yet another deadline looming for the National Flood Insurance Program, the Mortgage Bankers Association and nearly two dozen other industry trade groups urged Congress to take action and pass a long-term program extension.
MBA Letter Urges Improvements to Bureau Financial Education Programs
The Mortgage Bankers Association said the Consumer Financial Protection Bureau should improve its delivery channels for dissemination of its financial education programs and eliminate its flawed “rate-checker” tool for consumers.
Mulvaney Taps Brian Johnson as Bureau Acting Deputy Director
It’s been a busy few weeks at the Bureau of Consumer Financial Protection/Consumer Financial Protection Bureau, personnel-wise.
Despite Record Tappable Equity, Borrowing Hits 4-Year Low
Black Knight, Jacksonville, Fla., said despite record-setting levels of “tappable” equity growth in the first quarter, the share of total equity withdrawn by borrowers hit a four-year low.
CRE Transparency Improves Globally; U.S. ‘Most Transparent’
JLL, Chicago, said governments worldwide have been gradually forging greater transparency in real estate markets, addressing growing demands from investors and the public to deliver significant change.