CoreLogic, Irvine, Calif., released its latest fraud report, finding that its Mortgage Application Fraud Risk Index increased 8.3% year-over-year in the second quarter and 1.1% from the first quarter.
Category: News and Trends
Trepp: CMBS Special Servicing Rate Jumps in September
Trepp, New York, reported its CMBS Special Servicing Rate rose in September, up 33 basis points to 8.79%.
Foreclosure Activity Drops, ATTOM Finds
ATTOM, Irvine, Calif., said U.S. properties with foreclosure filings are falling, down 2% from the previous quarter and down 13% from a year ago.
MISMO Publishes Mortgage Compliance Dataset
MISMO, the real estate finance industry’s standards organization, announced that the Mortgage Compliance Dataset (MCD) specification has reached “Candidate Recommendation” status, which means that it has been thoroughly reviewed by a wide range of organizations and industry participants and is available for industry use.
Clever Real Estate: Homeowners Spending Significantly on Renovations
Clever Real Estate, St. Louis, recently conducted a survey on home renovation trends, finding 63% of homeowners would prefer to remodel their existing home than move to one that has already been renovated.
LendingTree: 5.6 Million Homes Vacant in Largest U.S. Metro Areas
LendingTree, Charlotte, N.C., reported that 5.6 million housing units are vacant in the largest 50 metro areas in the U.S.–and ranked which ones top that list.
Hurricane Season Is Here. Servicers Should be Prepared–Anthony Scotese from ServiceLink
The destruction and devastation from Hurricane Helene continue to be felt across the southeastern United States, where more than 200 people died from the storm as of Oct. 5.
Servicing Quote Tuesday, Oct. 8, 2024
“Given that coverage amounts are based not on a property’s market value, but its replacement cost, the average policy has also gone from covering over 100% of the average home’s value back in 2013-2015 to just 88% today.”
–Andy Walden, ICE Vice President of Research and Analysis
Calque’s Jeremy Foster–New Tools For Changing Markets: An Innovative Approach To Bridge Loans
As good as traditional bridge loans have historically been for some borrowers, markets evolve and there is a reason history lives in the past.
Hurricane Helene Is Making Young Americans Rethink Future Residence, Redfin Finds
Hurricane Helene has now become one of the deadliest hurricanes in the U.S. in modern times–and its destructive path may be affecting residential decisions moving forward.