MISMO, the real estate finance industry’s standards organization, announced that it is seeking comment on the latest version of the MISMO Life of Loan Process Model. The 60-day public comment period runs through June 18, 2024.
Category: News and Trends
Servicing Quote Tuesday, April 23, 2024
“Homeowners living in areas where insurance premiums are surging are at risk of seeing their properties gain less value than homeowners in areas with stable premiums—and in some cases, they may even lose money,”
–Redfin Chief Economist Daryl Fairweather.
Clarifire’s Jane Mason: Imagination and Automation–Do You Have it?
As mortgage servicers gathered in Orlando in February for the annual MBA Servicing Solutions Conference & Expo, one session, “Executives Discuss Their Challenges and Goals,” revealed a consistent need and desire to reimagine mortgage servicing.
CMBS Special Servicing Rate Jumps: Trepp
Trepp, New York, reported the commercial mortgage-backed securities special servicing rate jumped 17 basis points in March to 7.31%.
High Resolution Volume Drives CMBS Delinquency Rate Lower, Fitch Reports
The U.S. commercial mortgage-backed securities delinquency rate decreased nine basis points to 2.19% in March, according to Fitch Ratings, New York.
ATTOM Finds Foreclosure Filings Rise in First Quarter
ATTOM, Irvine, Calif., found 95,349 U.S. properties with foreclosure filings during the first quarter, up 3% from the previous quarter but down less than 1% from a year ago.
MBA Statement on the Veterans Affairs Servicing Purchase Program
MBA’s President and CEO Bob Broeksmit, CMB, released a statement on the Department of Veterans Affairs (VA) release of its Veterans Affairs Servicing Purchase (VASP) program.
MBA Chart of the Week: Goods and Services Inflation
The week’s news has been around the Consumer Price Index (CPI) release showing that inflation was hotter than expected in March, which is likely to delay the Federal Reserve’s first rate cut in 2024 and contributed to a significant spike in the 10-year Treasury yield to over 4.5%.
Servicing Quote Tuesday, April 9, 2024
“One area of the mortgage lending market is strong–and that is defect performance. Despite rate and volume concerns, critical defect rates are down for the fourth straight quarter.”
–Nick Volpe, Executive Vice President of ACES Quality Management
CRED iQ: Commercial Loan Modifications Surged in 2023
CRED iQ, Wayne, Pa., reported the number of commercial loan modifications jumped significantly in 2023 from 2022. And, the firm anticipates that trend will persist in 2024.