Freddie Mac, McLean, Va., plans a pilot program that could replace the current approach to seeking repurchases for performing loans with origination defects. Freddie Mac previewed aspects of the pilot program in October at MBA’s Annual Convention.
Category: News and Trends
Servicing Quote Tuesday, Jan. 2, 2024
“While we’ve observed a modest decrease in U.S. foreclosure activity most likely due to seasonal factors, it’s essential to note that these fluctuations are a part of the cyclical nature of the market.”
–Rob Barber, CEO at ATTOM
MBA: Share of Mortgage Loans in Forbearance Decreases to 0.26% in November
The Mortgage Bankers Association’s monthly Loan Monitoring Survey revealed that the total number of loans now in forbearance decreased by 3 basis points from 0.29% of servicers’ portfolio volume in the prior month to 0.26% as of Nov. 30, 2023.
Fitch: Outlook for Equity REITs is Deteriorating
Fitch Ratings, New York, said the outlook for U.S. equity real estate investment trusts in 2024 is deteriorating.
MBA NewsLink Q&A With Shelley Leonard and Greg Holmes from Xactus
MBA NewsLink recently spoke with Shelley Leonard and Greg Holmes from Xactus, a provider of verification for the mortgage industry. They discussed 2024 and what lenders can expect in the new year.
CCMS Designee Society Rebranding Highlights Community, Charitable Efforts
Industry members who achieve the Mortgage Bankers Association’s Commercial Certified Mortgage Servicing designation will now have a newly rebranded home for networking and collaboration–the CCMS Designee Society.
MBA: Commercial and Multifamily Mortgage Debt Outstanding Increased by $37 Billion in Third Quarter
The level of commercial/multifamily mortgage debt outstanding increased by $37.1 billion (0.8%) in the third quarter of 2023, according to the Mortgage Bankers Association’s latest Commercial/Multifamily Mortgage Debt Outstanding quarterly report.
ACES: Critical Defect Rate Falls for Third Straight Quarter
ACES Quality Management, Denver, Colo., reported the critical defect rate for the second quarter of 2023 fell to 1.72%, a 3.37% decrease and the third consecutive quarter of declines.
Home Flipping Declines Again, ATTOM Finds
ATTOM, Irvine, Calif., found the rate of house flipping–while still historically high–has fallen to the lowest point in two years.
Servicing Quote Tuesday, Dec. 19, 2023
“Nearly 96% of all home mortgages are performing, which underscores how strong servicing portfolio performance is right now with the same resilience seen in the U.S. labor market.”
–Marina Walsh, CMB, MBA’s Vice President of Industry Analysis