“The percentage of loans in forbearance increased for the fourth consecutive month.”
–Marina Walsh, CMB, MBA’s Vice President of Industry Analysis
Category: News and Trends
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.
New Federal Guidelines for AVMs Elevate Bias Testing, Give Consumers a Stronger Voice–ICE’s Damien Weldon and John Holbrook
Decades after the first fair lending laws started to address discrimination in residential lending, regulators are now laser-focused on eliminating bias in the real estate valuation process.
FundingShield: Fraud Risk Report Shows Slight Drop
FundingShield, Newport Beach, Calif., found that during the third quarter, 46.43% of transactions on an $82 billion portfolio of residential, commercial and business purpose loans had issues leading to a risk of wire and title fraud.
Meet Geno Paluso–Sagent’s Chief Executive Officer
MBA NewsLink recently interviewed Geno Paluso, who joined Sagent in February as Chief Executive Officer. Paluso spent 25 years as a Naval Special Warfare (SEAL) Officer, Commandant of Cadets at The Citadel and a Vice President at BAE Systems Inc. before joining the FinTech firm.
Servicing Quote of the Week
“While we are seeing a decrease in foreclosure starts and repossessions, it’s crucial to remain vigilant, as any economic disruptions or changes in interest rates could shift the current trend.”
–ATTOM CEO Rob Barber