Redfin: Demand for Vacation Homes Falls

Redfin, Seattle, found that the demand for vacation and second homes has dropped to the lowest level in at least six years.

ATTOM: Home Equity Dips Slightly in Q1

ATTOM, Irvine, Calif., released its Q1 Home Equity and Underwater Report, revealing that 46.2% of mortgaged residential properties were considered equity-rich in the first quarter.

Servicing Quote of the Week

“Despite the financial market volatility in April, and expectations of a sharp slowdown in economic activity in the coming months, these data will be enough to keep the Federal Reserve on the sidelines for now, as they assess whether the threat to economic growth or inflation is the bigger concern.”
–MBA SVP and Chief Economist Mike Fratantoni

Cornerstone Servicing’s Toby Wells: Proactive Risk Mitigation in Default Servicing

MBA NewsLink recently interviewed Toby Wells, president of Cornerstone Servicing, Englewood, Colo. a residential loan subservicer and division of Cornerstone Capital Bank, SSB. Wells has nearly 30 years of experience spanning mortgage servicing, originations, capital markets and asset management.