Prices of condos in some major Florida metros are dropping year-over-year and sales are declining as insurance costs and homeowners association fees climb, according to Redfin, Seattle.
Category: News and Trends
MBA Chart of the Week: 2024 Commercial Mortgage Maturities Pushed Up by 2023 Extensions
Commercial mortgages tend to be relatively long-lived, spreading maturities out over several years.
ICE First Look: Delinquencies Down in January
Intercontinental Exchange Inc., Atlanta, released its “first look” at mortgage performance, reporting the national delinquency rate dropped to 3.38% in January. That’s the lowest level since October.
Laura Escobar on Unsung Heroes– #MBAServicing24
ORLANDO–Mortgage servicers are the backbone of the industry, according to Laura Escobar, 2024 MBA Chair-Elect and President of Lennar Mortgage, Miami.
FHA Establishes New Payment Supplement Loss Mitigation Home Retention Solution
The Federal Housing Administration on Wednesday published a Mortgagee Letter establishing a new Payment Supplement loss mitigation home retention solution.
MBA Statement on FHA’s New Loss Mitigation Option
MBA’s President and CEO Bob Broeksmit, CMB, released the following statement on the Federal Housing Administration’s (FHA) Payment Supplement, a new loss mitigation alternative to a traditional loan modification:
Executives Discuss Their Challenges, Goals: #MBAServicing24
ORLANDO–Top executives from PennyMac Financial Services, Merchants Bank of Indiana, M&T Bank Corp., Mr. Cooper and Freedom Mortgage Corp. discussed the biggest challenges the mortgage servicing industry faces here at MBA’s Servicing Solutions Conference & Expo 2024.
LERETA Survey Reveals Lack of Understanding of Escrow Accounts
LERETA, Pomona, Calif., released a new survey showing that among respondents who have an escrow account with their mortgage, only 52% “completely” understand how that account works.
Servicing Quote Tuesday, Feb. 27, 2024
“Prioritizing payment relief and reducing operational complexities were imperative, and we believe the improvements made following multiple rounds of feedback will ensure mortgage servicers have a new effective and efficient way to help struggling borrowers stay in their homes.”
–MBA President and CEO Bob Broeksmit, CMB, on FHA’s recently announced new loss mitigation option
Servicing Quote Tuesday, Feb. 20, 2024
“The VA Home Loan Program is one of the most significant benefits our nation’s heroes earn through their sacrifice and service. MBA recognizes the need to make this important program more accessible and as competitive as other mortgage loan options.”
–MBA 2024 Chairman Mark A. Jones, President of Union Home Mortgage