ATTOM, Irvine, Calif., released its second-quarter 2024 U.S. Home Flipping Report, finding that 79,540 single-family homes and condos were flipped in the quarter.
Category: News and Trends
Servicing Quote Tuesday, Sept. 17, 2024
“However, after careful review, we are concerned that the proposed changes to the borrower engagement process would increase complexity and level of difficulty to execute, and they would increase the associated risk and cost for participants.”
–The Mortgage Bankers Association and affiliated associations in a letter to Federal Housing Commissioner Julia Gordon regarding the Modernization of Engagement of Borrowers in Default
MBA, Industry Groups Send Joint Letter on Engagement of Borrowers in Default
The Mortgage Bankers Association, American Bankers Association, Housing Policy Council and the National Mortgage Servicing Association sent a joint letter on Sept. 13 to Assistant Secretary for Housing and Federal Housing Commissioner Julia Gordon, to serve as comments on the Draft Mortgagee Letter (ML), Modernization of Engagement of Borrowers in Default.
MBA Agrees with Fed Vice Chair Barr on Re-Proposing Basel III Endgame
MBA’s President and CEO, Bob Broeksmit, CMB, issued a statement following Federal Reserve Vice Chair Michael Barr’s speech outlining recommendations to re-propose the Basel III Endgame proposal.
Mortgage Cadence’s Melissa Kozicki–How Compliance Enables Innovation and Optimization
In today’s fiercely competitive mortgage environment, dynamic risk management through an opportunistic compliance lens is a competitive advantage.
CMBS Special Servicing Rate Leaps in August, Trepp Finds
Trepp, New York, reported the commercial mortgage-backed securities special servicing rate jumped in August, climbing 16 basis points to 8.46%.
Mphasis: Prospective Home Buyers Worry About Costs, Insurance
Mphasis Digital Risk, Maitland Fla., conducted a study finding that prospective home buyers say home insurance affordability is a major factor in where they decide to move.
ATTOM: Foreclosure Activity Down in August
ATTOM, Irvine, Calif., released its August 2024 U.S. Foreclosure Market Report, revealing a total of 30,227 U.S. properties with foreclosure filings–down 5.3% from July and down 11% year-over-year.
Redfin: Demand for Second-Home Mortgages Lowest Since 2016
Redfin, Seattle, reported mortgage rate locks for second homes fell 13.1% year-over-year in August, to hit the lowest level since March 2016 on a seasonally adjusted basis.
Commercial Mortgage Delinquency Rates Increased in the Second Quarter of 2024
Commercial mortgage delinquencies increased in the second quarter of 2024, according to the Mortgage Bankers Association’s (MBA) latest Commercial Delinquency Report.