Category: News and Trends

The Mortgage Bankers Association reported independent mortgage banks and mortgage subsidiaries of chartered banks made an average profit of $1,346 on each loan they originated in 2016, up from $1,189 per loan in 2015.

Whether it’s because of a growing family or need for more space, upgrading to a larger home comes with a price-in some cases, as much as a 50 percent increase in monthly mortgage payments, said Zillow, Seattle.

If housing is the driver of the economy, then property taxes are apparently the driver of government.

Commercial mortgage-backed securities delinquency rates increased again in March as another wave of loans turned newly delinquent, reported Trepp, New York.

Black Knight Financial Services, Jacksonville, Fla., said homeowners’ tappable equity hit $.4.7 trillion in 2016, the highest level since 2006.

The commercial mortgage-backed securities delinquency rate rose for the third consecutive month in February, edging up three basis points to 3.04 percent, reported Morningstar Credit Ratings, Chicago.

The Mortgage Bankers Association and nearly a dozen other industry trade groups sent a letter yesterday in support of proposed House legislation that would clarify High Volatility Commercial Real Estate provisions under the Basel III rule.

The Mortgage Bankers Association last week submitted a comment letter to the Maryland Department of Labor, Licensing and Regulation, expressing concerns over a proposed rule that would impact several areas of mortgage industry supervision.

CoreLogic, Irvine, Calif., said mortgage loans originated in the fourth quarter are among the highest-quality home loans originated since 2001.

Composite consumer default rates rose in February, the S&P/Experian Consumer Credit Default Indices reported yesterday.