The rest of 2016 will likely be as “bumpy” as the first half was for commercial mortgage-backed securities, said Brian Olasov, Executive Director with Carlton Fields, New York.
Category: News and Trends
HOPE NOW: 117,000 Mortgage Assistance Actions in April
HOPE NOW reported its members provided homeowners with 117,000 mortgage assistance actions to homeowners in April, including loan modifications, short sales, deeds in lieu and workout plans.
Fitch: New U.S. CMBS Multifamily Supply Increasing Risks
Risk of Class A multifamily overbuilding is rising in some submarkets, reported Fitch Ratings, New York.
Black Knight: Foreclosure Inventory Improvement Picking Up Speed
Black Knight Financial Services, Jacksonville, Fla., said improvement in the nation’s foreclosure inventory, which has been consistent for some time now, appears to be picking up speed.
S&P: Mortgage Default Rates Improve
Experian, New York, said first mortgage default rates fell to 0.63 percent in May, down by six basis points from April.
GSE Foreclosure Prevention Actions at 3.7 Million through First Quarter
The Federal Housing Finance Agency yesterday reported Fannie Mae and Freddie Mac completed 49,573 foreclosure prevention actions in the first quarter, bringing the total number of foreclosure prevention actions to nearly 3.7 million since the start of the conservatorships in September 2008.
RHS Administrator Hernandez: Changes to Program Make Refinancing RHS Loans Easier
Rural Housing Service Administrator Tony Hernandez said recent changes to the agency’s refinancing provisions will make it easier for borrowers to finance RHS loans and stay in their homes.
CoreLogic: April Foreclosures Up; Inventory Down
CoreLogic, Irvine, Calif., said foreclosure activity increased slightly in April, but continued to drop from a year ago. It also reported the nation’s foreclosure inventory fell to the lowest level since September 2007.
TRID: Forcing Lenders to Rethink Process and Deploy Sophisticated Technology
The TILA/RESPA Integrated Disclosure rules have forced lenders to rethink their processes and rely more on technology to originate loans more efficiently. To do this, smart lenders have implemented dynamic, sophisticated technology to help process, track and monitor loans during the origination and approval process in support of TRID compliance.
CoreLogic: 268,000 Homeowners Regained Equity in First Quarter
CoreLogic, Irvine, Calif., said 268,000 homeowners regained equity in the first quarter, bringing the total mortgaged residential properties with to 46.7 million, or 92 percent of all mortgaged properties.