Category: News and Trends

ORLANDO–In the aftermath of the biggest housing crisis in this country’s history, preserving and improving once-vibrant neighborhoods has become a major priority for both housing officials and mortgage servicers.

According to the Mortgage Bankers Association’s National Delinquency Survey, there were increases in the foreclosure starts rate during fourth quarter 2015 in a handful of states that have economies closely tied to the oil industry.

After 18 months of falling oil prices, the downturn’s ripple effect spilled over into energy-related commercial mortgage-backed securities loans, said Kroll Bond Rating Agency, New York.

RealtyTrac, Irvine, Calif., reported a 9.3 percent drop in vacant residential properties since the third quarter, which could cause upward pressure on home prices and rents.

Recent developments with the Telephone Consumer Protection Act could expose mortgage servicers to significant liability, the Mortgage Bankers Association told several government agencies this week.

MISMO updated its residential standards in support of multiple regulatory and industry reporting requirements. 

HOPE NOW reported nearly 100,000 mortgage assistance actions for homeowners in November, saying foreclosure alternatives outnumbered completed foreclosure sales by a four-to-one margin.

FHA yesterday announced it will cut insurance rates for multifamily mortgages, designed to stimulate production and rehabilitation of affordable rental housing.

RealtyTrac, Irvine, Calif., reported 6.4 million U.S. properties in negative equity at the end of 2015, representing 11.5 percent of all properties with a mortgage, a drop of 616,000 from a year ago.

Falling delinquencies and slowing special servicing loan transfers year-over-year contributed to improved performance metrics for commercial mortgage-backed securities, but leverage now approaches the pre-crisis peak, analysts said.