Category: News and Trends

Two years after introduction of the Consumer Financial Protection Bureau’s Ability-to-Pay rule, major residential mortgage servicers have yet to see any borrower claims, said Fitch Ratings, New York.

MBA NewsLink recently posed questions to Alok Datta, president of ATPR Inc., Dallas. 

Commercial mortgage-backed securities’ credit quality as measured by loan-to-value ratios improved during the first three months of this year, reported Moody’s Investors Service, New York.

Fannie Mae yesterday said it plans to begin securitizing reperforming loans held on the company’s balance sheet later this year.

CoreLogic, Irvine, Calif., said completed foreclosures continued to trend downward, with the nation’s foreclosure inventory falling to its lowest rate in nine years.

The MISMO Origination Workgroup has been instrumental in defining new terms and definitions in version 3.4 for the mortgage industry.

The Federal Housing Finance Agency yesterday announced that Fannie Mae and Freddie Mac will offer principal reduction to certain seriously delinquent, underwater borrowers who are still struggling in the aftermath of the financial crisis to help them avoid foreclosure and stay in their homes.

HOPE NOW reported 97,000 mortgage actions for homeowners in February, while foreclosure actions ticked up slightly.

Fitch Ratings, New York, said the Federal Housing Finance Agency’s recently announced Principal Reduction Modification program could moderately raise expenses for servicers handling delinquent Fannie Mae or Freddie Mac loans, but should not affect rated residential mortgage-backed securities transactions.

The commercial mortgage-backed securities delinquency rate increased seven basis points in March after sharp drops in January and February, reported Trepp, New York.