“Achieving these goals and setting up an effective VASP program will require all stakeholders to execute a complex loss mitigation and servicing transfer process. We are concerned with the lack of information and guidance on how to do so.”
–Mortgage Bankers Association and Housing Policy Council in a letter to the Department of Veterans Affairs regarding VASP implementation
The Mortgage Bankers Association and Housing Policy Council recently sent a letter to the Department of Veterans Affairs (VA) regarding more information and guidance about implementation of the Veterans Affairs Servicing Purchase (VASP) program.
Intercontinental Exchange Inc., Atlanta, released its ICE Mortgage Monitor report for May, finding that homeowners with mortgages closed out the first quarter with a record $16.9 trillion in equity–$11 trillion of which was tappable.
FirstClose, Austin, Texas, released a recent survey of homeowners, finding many lack awareness of the advantages of leveraging home equity and other related topics.
MBA NewsLink recently spoke to SingleSource Property Solutions’ CEO and co-founder Brian Cullen about moving vacant properties to active housing inventory.
MISMO, the real estate finance industry’s standards organization, is seeking public comment on a revision to the previously published Mortgage Insurance (MI) Estimated Rate Quote API Implementation Guide (iGuide) & sample files. The 30-day public comment period runs through May 31, 2024.
Delinquency rates for some loans are rising, including mortgages. In fact, the Mortgage Bankers Association (MBA) recently reported that the delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted rate of 3.88% of all loans outstanding at the end of the fourth quarter of 2023.
Total nonfarm payroll employment increased by 175,000 in April, per the Bureau of Labor Statistics.
“The U.S. delinquency rate fell from a year earlier for the first time in six months in February, indicating that mortgage performance remains strong.”
–Molly Boesel, Principal Economist for CoreLogic
The delinquency rate among KBRA-rated U.S. commercial mortgage-backed securities increased moderately in April to 4.67%, according to KBRA, New York.
