ATTOM, Irvine, Calif., released its Q4 2024 U.S. Home Equity and Underwater Report, showing that 47.7% of mortgaged residential properties could be deemed equity-rich in the quarter.
Category: News and Trends
Fitch Says Mortgage Insurers Will See ‘Limited’ Earnings Pressure from Catastrophes
Fitch Ratings, New York, said recent natural catastrophe activity from wildfires and hurricanes will likely incrementally increase mortgage delinquencies, but will have a relatively immaterial effect on ultimate paid claims experience and ratings for mortgage insurers.
Delinquency Rates for Commercial Properties Increased in Fourth-Quarter 2024, MBA Finds
Delinquency rates for mortgages backed by commercial properties increased during the fourth quarter of 2024, according to the Mortgage Bankers Association’s latest commercial real estate finance (CREF) Loan Performance Survey.
Servicing Quote of the Week
“The overall mortgage forbearance rate decreased slightly in December as some borrowers got back on track following last fall’s severe weather in the Southeast.”
–Marina Walsh, CMB, MBA’s Vice President of Industry Analysis.
Learn About the CMB Designation From Industry Leaders
MBANow recently sat down with some mortgage industry leaders to hear about their experience with the Certified Mortgage Banker designation.
Sara Stogsdill from Deephaven Mortgage: Operations Is at the Center of Disaster Recovery
Deephaven Mortgage’s Sara Stogsdill has been busy since Hurricanes Helene and Milton struck the Southeastern U.S. MBA NewsLink interviewed her about the pivotal role of operations teams in minimizing the financial consequences of these major events.
Share of Mortgage Loans in Forbearance Decreases Slightly to 0.47% in December
The Mortgage Bankers Association’s monthly Loan Monitoring Survey revealed the total number of loans now in forbearance decreased by 3 basis points from 0.50% of servicers’ portfolio volume in the prior month to 0.47% as of Dec. 31, 2024. According to MBA’s estimate, 235,000 homeowners are in forbearance plans.
ATTOM Reports Foreclosure Activity Declined in 2024
ATTOM, Irvine, Calif., reported foreclosure filings–default notices, scheduled auctions and bank repossessions–were reported on 322,103 U.S. properties in 2024, down 10% from 2023 and down 35% from 2019, before the pandemic shook up the market.
MBA Opens Doors Launches Disaster Relief Program for Children’s Hospital Los Angeles
The MBA Opens Doors Foundation launched the MBA Opens Doors Disaster Relief Program, which will provide an additional $100,000 to Children’s Hospital Los Angeles to support the children and families impacted by the Southern California wildfires.
Chart of the Week: Completed Loan Workouts from 2020 Onward
According to the latest results from MBA’s Monthly Loan Monitoring Survey, approximately 235,000 homeowners are in forbearance plans as of December 31, 2024. This level is substantially lower than the peak of almost 4.3 million homeowners in June 2020 and the 8.5 million borrowers who have been provided forbearance since March 2020.