ACES Quality Management, Denver, found the overall critical defect rate increased to 1.81% during the second quarter, moving closer to the precarious 2% threshold.
Category: News and Trends
S&P’s Property/Casualty Insurance Sector View Improves On Stronger Earnings, Capitalization
S&P Global Ratings, Princeton, N.J., said its sector view for U.S. property and casualty insurance has improved from negative to stable.
ICE First Look: Delinquencies Edge Up, but Foreclosure Activity Still Low
Intercontinental Exchange Inc., Atlanta, provided its first look at October mortgage performance, finding that the delinquency rate hit 3.45% in October, up 6% from October 2023.
MISMO Announces Standards Governance Committee Election Results
MISMO, the real estate finance industry’s standards organization, congratulates those elected to join/continue the 2025/2026 term on the Residential Standards Governance Committee and on the Commercial Standards Governance Committee.
MBA’s Statement on the Nomination of Scott Turner as HUD Secretary
MBA’s President and CEO Bob Broeksmit, CMB, released a statement on Scott Turner being nominated by President-elect Donald Trump to be Secretary of the Department of Housing and Urban Development (HUD).
Redfin: Investor Purchases Plateau
Investor home purchases are now around pre-pandemic levels, reported Redfin, Seattle.
Servicing Quote of the Week
“Approximately 65,000 more borrowers are in forbearance compared to one month ago. While forbearances are still low compared to the height of the pandemic, the monthly increase in forbearances is the largest since May 2020 and likely driven by the effects of Hurricanes Helene and Milton.”
–Marina Walsh, CMB, MBA’s Vice President of Industry Analysis
Share of Mortgage Loans in Forbearance Increases to 0.47% in October, MBA Reports
The Mortgage Bankers Association’s (MBA) monthly Loan Monitoring Survey revealed that the total number of loans now in forbearance increased to 0.47% as of Oct. 31, 2024.
Chrissi Rhea, Co-Founder of Mortgage Investors Group, Passes Away
Chrissi Callaghan Rhea, Co-Founder and former President and CEO of Mortgage Investors Group, passed away Nov. 8.
October Foreclosure Filings Up on Monthly Basis, Down Annually, ATTOM Finds
ATTOM, Irvine, Calif., released its October Foreclosure Market Report, finding that foreclosures were up 4% from September but down 11% from last October.