In today’s rapidly evolving landscape, technology plays a pivotal role in reshaping industries, and the mortgage sector is no exception.
Category: News and Trends
Servicing Quote Tuesday, June 11, 2024
“Home equity is key to mortgage holders who have seen other homeownership costs soar, including insurance, taxes and HOA fees, as a source of financial buffer.”
–Selma Hepp, CoreLogic Chief Economist
Buyers Willing to Give Up Land in Exchange for Homeownership
High mortgage rates and double-digit growth in home prices since COVID-19 are forcing home buyers to compromise on lot size and square footage to afford a house, the National Association of Home Builders reported.
ICE Mortgage Technology’s Vicki Vidal and Haris Jusic: What You Need to Know About the FHA’s Payment Supplement
During the COVID-19 pandemic, when rates remained low, the FHA streamlined its home retention loss mitigation options and provided relief for nearly 1.9 million borrowers. Despite these efforts, the current climate of high mortgage interest rates poses challenges for initiating loan modifications.
Fitch: Solid Demand, Home Price Growth Will Continue to Boost U.S. Housing Economy
The U.S. residential housing economy, which represents about 17% of GDP, will likely continue growing in second-half 2024 despite unaffordability due to high home prices and mortgage rates, according to Fitch Ratings, Chicago/New York.
Trepp Reports CMBS Delinquency Rate Dips
Trepp, New York, reported the commercial mortgage-backed securities delinquency rate dipped back below 5% in May.
Jobs Report: 272,000 Added in May
The U.S. Bureau of Labor Statistics announced nonfarm payroll increased by 272,000 and the unemployment rate was at 4% in May.
Servicing Quote Tuesday, June 4, 2024
“Predictions of a huge spike in foreclosures after the moratorium, with the potential for a surge in zombie properties, never came true. Indeed, the opposite has happened, as abandoned homes in foreclosure continue to get harder and harder to find around the country.”
–Rob Barber, CEO for ATTOM
MBA: Commercial Mortgage Delinquency Rates Increased in First Quarter
Commercial mortgage delinquencies increased in the first quarter of 2024, according to the Mortgage Bankers Association’s latest Commercial Delinquency Report.
Christine Beckwith Takes Stage at mPower Event to Talk Safety
NEW ORLEANS–Christine Beckwith, CEO of 20/20 Vision for Success Coaching & Consulting, Laconia, N.H., spoke about setting boundaries and safety tips for business women during a presentation May 21.