Commercial mortgage delinquencies increased in the fourth quarter of 2023, according to the Mortgage Bankers Association’s latest Commercial Delinquency Report.
Category: News and Trends
Point Survey: 70% of Homeowners With Adjustable-Rate Mortgages Regret It
More than two-thirds of homeowners who have taken out an adjustable-rate mortgage in the past 10 years regret it, according to a new study from home equity investment platform Point, Palo Alto, Calif.
MBA: Commercial and Multifamily Mortgage Debt Outstanding Increased in Fourth Quarter
The level of commercial and multifamily mortgage debt outstanding at the end of 2023 was $130 billion (2.8%) higher than at the end of 2022, according to the Mortgage Bankers Association’s (MBA) latest Commercial/Multifamily Mortgage Debt Outstanding quarterly report.
February Foreclosure Activity Up From Last Year, ATTOM Finds
ATTOM, Irvine, Calif. reported U.S. foreclosure activity increased 8% year-over-year in February, but fell 1% from the previous month.
MBA: IMBs Report Net Production Losses in the Fourth Quarter of 2023
Independent mortgage banks and mortgage subsidiaries of chartered banks reported a pre-tax net loss of $2,109 on each loan they originated in the fourth quarter of 2023, an increase from the reported loss of $1,015 per loan in the third quarter of 2023, according to the Mortgage Bankers Association’s newly released Quarterly Mortgage Bankers Performance Report.
Fitch Ratings: Mortgage Insurer Ratings Reflect Strong Borrower Credit Performance
Fitch Ratings, New York, said underwriting results for U.S. mortgage insurers remained very strong through 2023.
Servicing Quote Tuesday, March 12, 2024
“For the last three years, I have fully embraced HUD’s mission to create strong, sustainable, inclusive communities and quality affordable homes for all,”
–Marcia L. Fudge, Secretary of the U.S. Department of Housing and Urban Development, on her resignation
Servicing Quote Tuesday, March 12, 2024
“For the last three years, I have fully embraced HUD’s mission to create strong, sustainable, inclusive communities and quality affordable homes for all,”
–Marcia L. Fudge, Secretary of the U.S. Department of Housing and Urban Development, on her resignation
HUD Secretary Marcia L. Fudge to Resign March 22
Marcia L. Fudge, the 18th Secretary of the U.S. Department of Housing and Urban Development, announced she will resign effective March 22, 2024.
CRED iQ: Multifamily Distress Rate Up 80 Basis Points in February
CRED iQ, Wayne, Pa., reported the Distress Rate for all property types trimmed 4 basis points in February to 7.35%. However, the multifamily distress rate was up 80 basis points–the largest monthly increase in that sector in more than a year and a half.