MBA NewsLink interviewed Cornerstone Servicing President Toby Wells about technology advances that improve default servicing operations and borrower communications.
Category: News and Trends
FHFA Announces Increase to Conforming Loan Limit Values for 2024
The Federal Housing Finance Agency raised the conforming loan limit values for mortgages to be acquired by Fannie Mae and Freddie Mac for one-unit properties to $766,550 in 2024, an increase of $40,350 from 2023.
MBA Awards More Than $156,000 in Path to Diversity Scholarships
The Mortgage Bankers Association awarded $156,463 in scholarships to 179 industry professionals–including women and those from traditionally and historically marginalized and under-represented groups–under its Path to Diversity (P2D) Scholarship Program during the 2023 fiscal year ending Sept. 30.
MBA Chart of the Week: CRE Delinquencies and Net YTD Charge-offs at FDIC-Insured Firms
Since March 2023, a recurring set of questions has revolved around a) how conditions in commercial real estate are affecting banks and b) how conditions with banks are affecting CRE.
MBA Statement on the Veterans Affairs Voluntary Foreclosure Moratorium
MBA’s President and CEO Bob Broeksmit, CMB, released a statement on the Department of Veterans Affairs’ (VA) voluntary foreclosure moratorium.
Servicing Quote Tuesday, Dec. 5, 2023
“Servicers provided relief to struggling borrowers during the pandemic by advancing the payments owed on their mortgages and are willing to do so again. However, the VA needs to provide a detailed plan on how servicers will be reimbursed for advancing payments on behalf of borrowers.”
–MBA’s President and CEO Bob Broeksmit, CMB
Join the MBA Opens Doors Foundation’s #GivingTuesday Campaign
Join the MBA Opens Doors Foundation for #GivingTuesday, a global movement of generosity and kindness. On November 28, come together with industry colleagues to help keep families with critically ill or injured children in their homes. All it takes is one act of kindness at a time.
Fitch Ratings: WeWork Bankruptcy Unlikely to Pressure Office REIT Occupancies
WeWork’s recent bankruptcy filing should have little or no direct credit effect for U.S. equity real estate investment trusts, given minimal, or no, exposure in rated issuers’ portfolios, according to Fitch Ratings, New York.
TD Bank Survey: Homeowners Plan to Tap Into Equity for Renovations
TD Bank, Cherry Hill, N.J., released its HELOC Trend Watch survey, finding that 38% of homeowners who are renovating their properties within the next two years intend to use a home equity line of credit or home equity loan for funds.
Redfin: 1 in 3 Homebuyers Paying All Cash, Highest Share in Nearly a Decade
Redfin, Seattle, reported the share of homes bought in all cash hit its highest level since 2014 in September as elevated mortgage rates made paying in cash more attractive.