MBA NewsLink recently spoke to SingleSource Property Solutions’ CEO and co-founder Brian Cullen about moving vacant properties to active housing inventory.
Category: News and Trends
MISMO Seeks Comment on Mortgage Insurance Estimated Rate Quote API Implementation Guide & Sample File Revision
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.
EarnUp’s Brian Gunn: As Delinquencies Rise, Lenders, Servicers Must Consider Innovative Repayment Tools
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.
Jobs Report: U.S. Economy Adds 175,000 in April
Total nonfarm payroll employment increased by 175,000 in April, per the Bureau of Labor Statistics.
Servicing Quote Tuesday, April 30, 2024
“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
CMBS Delinquency Rate Increases Moderately
The delinquency rate among KBRA-rated U.S. commercial mortgage-backed securities increased moderately in April to 4.67%, according to KBRA, New York.
GDP Grew at 1.6% in Q1; Industry Economists Weigh In
Real gross domestic product increased at an annual rate of 1.6% in the first quarter, per the advance estimate released by the Bureau of Economic Analysis.
MBA: IMB Production Losses Reach Series High in 2023
Independent mortgage banks and mortgage subsidiaries of chartered banks lost an average of $1,056 on each loan they originated in 2023, down from an average loss of $301 per loan in 2023. This represents a series high in the 15-year history of the Mortgage Bankers Association’s (MBA) Annual Mortgage Bankers Performance Report.
CoreLogic: Delinquency, Foreclosure Rates Low in February
CoreLogic, Irvine, Calif., reported the overall mortgage delinquency rate was at 2.8% in February, down from 3% in February 2023.
MBA Chart of the Week: Climate, Sustainability and Real Estate Finance
With Earth Day happening this month, it seems an opportune time to discuss the intersection of climate/sustainability issues and real estate finance. MBA has been leading on these issues for more than half a decade, helping members through our work related to research, policy and practice.