Category: News and Trends

Zillow, Seattle, said the number of homeowners underwater on their mortgage continued to fall in the fourth quarter, but more than half of those who remain underwater owe at least 20 percent more than their homes are worth.

The company’s 2016 Year-End U.S. Home Flipping Report said 193,009 single family homes and condos flipped in 2016, up by 3.1 percent from 2015 to the highest level since 2006.

The Mortgage Bankers Association, in a letter to leaders in the Senate and House, urged support for two bills that would make key adjustments to the National Flood Insurance Program.

CoreLogic, Irvine, Calif., said U.S. homeowners with mortgages (63 percent of all homeowners) saw their collective equity increase by $783 billion in 2016, an increase of 11.7 percent.

MetaSource, Salt Lake City, said a review of its post-close quality control audits in 2016 showed the Consumer Financial Protection Bureau’s TILA/RESPA Integrated Disclosure rule–also known as “Know Before You Owe”–accounted for 12 of the top 15 quality control issues for mortgage lenders.

Homeowner spending on remodeling is expected to see healthy growth through 2025, a new report from the Joint Center for Housing Studies at Harvard University said.

Reports from ACES Risk Management, Pompano Beach Fla., and First American Financial Corp., Santa Ana, Calif., offer mixed results on the state of mortgage loan defects.

The final year of the three-year commercial mortgage-backed securities ‘maturity wave’ of loans disbursed between 2005 and 2007 started out strongly, reported Morningstar Credit Ratings LLC, Chicago.

This year marks the end of the so-called “wall” of commercial and multifamily mortgage maturities stemming from 10-year loans made in 2006 and 2007.

This year marks the end of the so-called “wall” of commercial and multifamily mortgage maturities stemming from 10-year loans made in 2006 and 2007.