This year’s storm season is testing everyone’s capacity to be responsive in the face of the unexpected. I know firsthand, as most of our team lives in Pinellas County, Fla., which was recently hit by multiple deadly storms.
Category: News and Trends
Auction.com: Demand for Auction Properties Continues to Fall in Q3
Auction.com, Irvine, Calif., released its Auction Market Dispatch for the third quarter, finding that demand continues to weaken.
MBA White Paper: Reforms Needed to RESPA Section 8 to Better Serve Consumers, Mortgage Market
Comprehensive reforms are necessary to modernize Section 8 of the Real Estate Settlement Procedures Act (RESPA) to better serve consumers and the real estate finance industry in today’s highly-regulated mortgage market. That is according to a new white paper from the Mortgage Bankers Association.
Commercial, Multifamily Mortgage Delinquency Rates Increase in Third Quarter
Delinquency rates for mortgages backed by commercial properties increased slightly during the third quarter of 2024.
Servicing Quote of the Week
“The percentage of loans in forbearance increased for the fourth consecutive month.”
–Marina Walsh, CMB, MBA’s Vice President of Industry Analysis
Share of Mortgage Loans in Forbearance Increases to 0.34% in September
The Mortgage Bankers Association’s monthly Loan Monitoring Survey revealed that the total number of loans now in forbearance increased to 0.34% as of Sept. 30, 2024.
MBA Chart of the Week: New Home Purchase Applications by Loan Type
Mortgage applications to buy newly built homes have been seeing year-over-year growth since 2023, and in the MBA Builder Applications Survey results for September 2024, purchase applications were up 11% on an annual basis.
DPR: 29 Homebuyer Assistance Programs Added in Q3
Down Payment Resource, Atlanta, released its Q3 Homeownership Program Index Report, highlighting the homebuyer assistance programs added and available in the quarter. The number offered reached 2,444 in Q3.
ValuePenguin: Winter Weather Property Damage Already at $61.8M in 2024
As we head into the winter months in much of the United States, ValuePenguin, a division of LendingTree, Charlotte, N.C., put out a report on winter weather damage. So far, winter weather has caused an estimated $61.8 million in property damage in 2024.
Vaultedge’s Murali Tirupati–Fed’s Rate Cuts Signal Growth: Positive Outlook for Mortgage Lending in 2025
The Federal Reserve’s recent decision to reduce rates by 50 basis points, with further cuts expected through 2025, offers a key turning point for the mortgage industry.