“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 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.
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, 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, 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.
MISMO, the real estate finance industry’s standards organization, announced the publication of the new MISMO Engineering Guideline (MEG) for Extending a Standard MISMO XML Schema (MEG 0025).
Intercontinental Exchange Inc., Atlanta, released its “first look” at October 2023 month-end mortgage performance statistics, noting that serious delinquencies have fallen to their lowest level in 17 years.
“Home equity continues to be one of the more affordable ways that current homeowners can access funds to improve the condition of their home and increase its value.”
–Jon Giles, Head of Real Estate Secured Lending Strategy & Support at TD Bank
The Mortgage Bankers Association’s monthly Loan Monitoring Survey revealed that the total number of loans now in forbearance decreased by 2 basis points from 0.31% of servicers’ portfolio volume in the prior month to 0.29% as of Oct. 31, 2023.
MBA Research recently released the third quarter results of its Quarterly Mortgage Bankers Performance Report.
