Trepp, New York, reported the commercial mortgage-backed securities delinquency rate dipped back below 5% in May.
Category: News and Trends
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.
ATTOM: Zombie Foreclosures Shrink Further; Empty Properties Flat
ATTOM, Irvine, Calif., released its second-quarter 2024 Vacant Property and Zombie Foreclosure Report, finding that 1.3 million residential properties currently sit vacant in the U.S.
MISMO Seeks Public Comment on Property and Valuation Services v3.6.0 Implementation Guide
MISMO, the real estate finance industry’s standards organization, seeks public comment on the Property and Valuation Services (PaVS) v3.6.0 Reference Model Implementation Guide (I-Guide).
CFPB Releases RFI on Mortgage Closing Costs; MBA Shares Concerns Regarding Credit Reporting Price Increases
The American Bankers Association, Housing Policy Council and Mortgage Bankers Association issued a statement in response to the Consumer Financial Protection Bureau’s Request for Information on mortgage closing costs.
MBA Chart of the Week: 30-Year Fixed Mortgage Rate and 10-Year Treasury Yield
This week’s Chart of the Week examines the spread between the 30-year fixed mortgage rate and 10-year Treasury yield.
Servicing Quote Tuesday, May 28, 2024
“Servicing profitability also improved, given low prepayment activity and preservation of servicing values. Including both the production and servicing business lines, close to 60% of mortgage companies were profitable in the first quarter of this year–the highest level in eight quarters.”
–Marina Walsh, CMB, MBA’s Vice President of Industry Analysis