“The overall performance of servicing portfolios–particularly government loans–declined in December. Factors such as seasonality, a changing labor market, resumption of student loan payments, and the rise in balances on other forms of consumer debt are likely at play.”
–Marina Walsh, CMB, MBA’s Vice President of Industry Analysis
MISMO, the real estate finance industry’s standards organization, released its 2023 Annual Report at its 2024 Winter Summit. The MISMO Annual Report outlines the organization’s progress toward creating essential standards designed to solve key business challenges.
The Federal Housing Finance Agency last summer held its “Velocity” TechSprint, bringing people together to ponder how data digitization could drive transparency and increase access, fairness, affordability and sustainability in mortgage lending. FHFA briefed MISMO Winter Summit attendees about the program Monday.
While 78% of millennials say purchasing a home is part of the American dream, 48% don’t think homeownership is affordable for the average member of their generational cohort.
While homeowners across the U.S. are celebrating the record-high appreciation in their home values and, as a result, their home equity, servicers are preparing for the other shoe to drop: an accompanying rise in real estate taxes, affecting escrow balances and creating issues for both borrowers and servicers.
The headline inflation rate increased modestly during December, the Bureau of Labor Statistics reported Thursday.
ATTOM, Irvine, Calif., released data on year-end 2023 foreclosures, finding that foreclosure filings were up 10% from 2022 and 136% from 2021. However, they were down 28% from pre-pandemic 2019.
“Reflecting on 2023, we see the recent rise in foreclosure activity as a market correction rather than a cause for alarm. It signals a return to more traditional patterns after years of volatility.”
–Rob Barber, CEO at ATTOM.
The job market held steady in December, with growth in payrolls of 216,000 and the unemployment rate unchanged at 3.7%, the U.S. Bureau of Labor Statistics reported Friday.
Trepp, New York, noted the overall commercial mortgage-backed securities delinquency rate fell by seven basis points to 4.51% in December.
