Category: News and Trends

Consumer credit default rates rose by five basis points in October, the Standard & Poor’s/Experian Credit Default Indices reported yesterday. 

CoreLogic, Irvine, Calif., said despite a fiscal year-end surge in foreclosures, the national foreclosure inventory of single-family homes continued to fall from historically high levels.

The Mortgage Bankers Association, an a letter to House and Senate appropriators, urged continued funding for HUD staffing and systems upgrades, full funding for Ginnie Mae and support for FHA multifamily and healthcare programs. 

For the first time since 2008, the Federal Housing Administration’s Mutual Mortgage Insurance Fund capital ratio exceeds its congressionally mandated threshold of 2 percent, HUD said yesterday.  

The Mortgage Bankers Association continued its pressure on Congress to leave out a provision in a highway reauthorization bill that would allow an increase in Fannie Mae/Freddie Mac credit guaranty fees to fund highway projects.  

The outlook improved slightly for properties that support most commercial mortgage-backed securities, reported Moody’s Investors Service, New York.

The Mortgage Bankers Association’s grassroots advocacy arm, the Mortgage Action Alliance, issued a Call to Action yesterday, urging its members to contact their representatives in Congress in support of a bill that would require the Federal Housing Finance Agency to withdraw a controversial proposed rule on Federal Home Loan Bank System membership. 

Offices of the Mortgage Bankers Association will be closed this Wednesday, Nov. 11, in observance of the Veterans Day holiday. 

RealtyTrac, Irvine, Calif., reported homeowners who sold during the third quarter saw and average price gain of $40,658, or 17 percent, from their purchase price, the highest gain since 2007.  

While we’ve upgraded to Google Maps to get us to where we’re going; we’re more than comfortable with Netflix’s recommendation engine to suggest a movie or TV show; and Uber has now become a widely accepted form of transportation, we continue to rely on green-screen technology and “one size fits all” subservicers to manage billions of servicing portfolios that vary dramatically from one organization to the next. Why the complacency to not seek out a better solution?