Category: News and Trends

Black Knight Financial Services, Jacksonville, Fla., said mortgage delinquencies fell 13 percent month-over-month in February, reversing January’s spike, bringing the national delinquency rate to its lowest point since April 2007. …

Since late 2014, we’ve seen a stronger relationship between the average loan amount on refinance applications and the refinance index, MBA’s gauge of refinance application activity.

STRATMOR Group, Greenwood City, Colo., said a survey of lenders found that the Consumer Financial Protection Bureau’s TILA/RESPA Integrated Disclosure rule, while significantly boosting borrower satisfaction, comes with a price. Literally.

Falling oil prices represent a moderate credit negative for commercial mortgage-backed securities collateral and will cause performance to deteriorate in some metros, said Moody’s Investors Service, New York.

Consumer credit default rates held steady in February, reported Experian, New York.

The Federal Housing Administration last week announced long-anticipated changes to its loan-level certification form.

The Mortgage Bankers Association, in a letter yesterday to FHA, expressed concerns about a $500 fee cap for processing assumptions for low-rate FHA mortgages and asked that the cap be adjusted to reflect actual costs lenders incur when processing an assumption.

Market volatility in the broader capital markets has increased the spreads investors demand for commercial mortgage-backed securities in recent months, leading many Wall Street analysts to reduce their expectations for 2016 CMBS issuance by 25 percent and more.

The House, by unanimous consent, approved yesterday a Mortgage Bankers Association-supported bill that would extend the Servicemembers Civil Relief Act through 2017.

CoreLogic, Irvine, Calif., reported 38,000 completed foreclosures in January, a 16 percent increase from December, but said the nation’s foreclosure inventory continued its steady drop.