WASHINGTON–The industry has plentiful challenges, but is in a very different spot than during the Great Recession, said Michael Fratantoni, Mortgage Bankers Association Chief Economist and Senior Vice President of Research and Industry Technology, here at the National Advocacy Conference.
Category: News and Trends
Statement of MBA’s Michael Fratantoni Before the House Financial Services Subcommittee on Housing and Insurance
Mike Fratantoni, MBA’s Chief Economist and SVP of Research and Industry Technology, testified last week at a hearing titled, “The Characteristics and Challenges of Today’s Homebuyers” before the Committee on Financial Services Subcommittee on Housing and Insurance.
Cenlar’s Tom Donatacci: The Golden Rule of Client Service
I have had a diverse, nearly 35-year career, with each chapter delivering experiences and tools that have helped me manage anything that comes my–or my client’s–way. The most significant accomplishments in my career have been when I’ve been able to surround myself with a strong team with diversified skills.
ICE First Look: Delinquencies Improve in February
Intercontinental Exchange Inc., Atlanta, released its first look at February mortgage performance, noting that the national delinquency rate was at 3.34%, down 4 basis points from the month before and 11 basis points lower than February 2023.
‘Home Flipping’ Plummets as Profits Slump
Home flipping fell nearly 30% in 2023 compared to the year before, according to ATTOM, Irvine, Calif.
MBA Chart of the Week: CRE Mortgage Debt Across Capital Sources, Property Types
This week’s Chart of the Week shows MBA’s estimates of the distribution of CRE mortgage debt across capital sources and property types and is derived from a variety of public and private sources.
Servicing Quote Tuesday, March 26, 2024
“We’re just not seeing that,”
–Michael Fratantoni, MBA Chief Economist and Senior Vice President of Research and Industry Technology, speaking about a spike in foreclosures and delinquencies similar to the Great Recession
Servicing Quote Tuesday, March 19, 2024
“The performance of servicing portfolios and loan workouts improved in February, as borrowers benefitted from tax refunds, the extra day in the month to submit their payments, and continued resilience in the job market,”
–Marina Walsh, CMB, MBA’s Vice President of Industry Analysis.
MBA Reports Share of Mortgage Loans in Forbearance Holds Steady at 0.22% in February
The Mortgage Bankers Association’s monthly Loan Monitoring Survey revealed the total number of loans now in forbearance remained unchanged at 0.22% as of Feb. 29, 2024.
Guaranteed Rate: Home Insurance Prices Up 19% in 2023
Guaranteed Rate Insurance, Chicago, released a proprietary homeowners insurance study, finding home insurance prices increased 19% from first-half 2022 to first-half 2023 and 55% since 2019.