Category: News and Trends

For once, the question ahead of the Federal Open Market Committee’s regular policy meeting wasn’t about raising the federal funds rate. Instead, it focused on when it would formally begin winding down its purchases of mortgage-backed assets (the answer: October).

S&P Dow Jones Indices and Experian, New York, said major credit default indices rose for the second consecutive month in August, while three of the five major cities surveyed saw default rates rise.

Black Knight, Jacksonville, Fla., said while August mortgage delinquencies remained flat nationally, they spiked by nearly 16 percent in Hurricane Harvey-related FEMA-designated disaster areas.

CoreLogic, Irvine, Calif., said while U.S. homeowners continue to see their equity rise–by nearly $1 trillion since second-quarter 2016–nearly three million residential properties remain “underwater,” in negative equity.

More than $5 billion in commercial mortgage-backed securities loans have exposure to Toys R Us–which filed for bankruptcy Monday–as a tenant, CMBS analysts say.

The Mortgage Bankers Association and other industry trade groups urged the Trump Administration to maintain momentum on reforming Fannie Mae and Freddie Mac, expressing concerns that reform efforts appear to be stalling on Capitol Hill.

Florida’s commercial real estate market benefited from long-term preparation when Hurricane Irma hit, reported CBRE, Los Angeles.

Certain changes to the Volcker Rule would better accomplish the rule’s public policy purposes–and protect a foundational element of commercial mortgage-backed securities liquidity–the Mortgage Bankers Association said in a letter to the Office of the Comptroller of the Currency.

CoreLogic, Irvine, Calif., reported 4.5 percent of all mortgages in some stage of delinquency in June, down by 0.8 percentage point from a year ago.

The Trump Administration’s nominee for Federal Housing Commissioner is a familiar face to the housing industry and members of the Mortgage Bankers Association.