“MBA has led the industry over the past two years in a constructive engagement with the Federal Housing Finance Agency and the GSEs to develop more effective alternatives to a repurchase request when dealing with loan defects on performing loans.”
–MBA President and CEO Bob Broeksmit, CMB
(One in a continuing series of profiles of participants in the MBA Education Path to Diversity (P2D) Scholarship Program, which enables employees from diverse backgrounds to advance their professional growth and career development.)
Intercontinental Exchange Inc., Atlanta, released its Mortgage Monitor report for March, featuring some full-year 2023 insights. Among those, the report recorded only 4.3 million mortgages as originated in 2023, the lowest since ICE began tracking the data 30 years ago.
CoreLogic, Irvine, Calif., reported the national overall mortgage delinquency rate was 3.1% in December, up by 0.1 percentage point year-over-year from December 2022 and 0.2 percentage point from November.
More than half of aspiring homeowners say the current cost of living is too high or their income is not high enough to afford a down payment and closing costs for a home (51% and 54% respectively), reported Bankrate, New York.
Traditionally, mortgage bankers that both originate and service loans have operated these two business in separate siloes, often using separate, poorly integrated platforms for each.
MBA Research recently analyzed repurchase and indemnification volume over a five-year period from the third quarter of 2018 through the third quarter of 2023.
MBA President and CEO Bob Broeksmit, CMB, issued a statement regarding recent moves by Fannie Mae and Freddie Mac to address loan repurchase requests.
ORLANDO–The U.S. economy was stronger in 2023 than most analysts expected, according to Joel Kan, Vice President and Deputy Chief Economist with the Mortgage Bankers Association.
Prices of condos in some major Florida metros are dropping year-over-year and sales are declining as insurance costs and homeowners association fees climb, according to Redfin, Seattle.
