The delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted rate of 3.62% of all loans outstanding at the end of the third quarter of 2023, according to the Mortgage Bankers Association’s National Delinquency Survey.
Upgrading borrower communications represents a golden opportunity for lenders to harness new business channels and technologies that can make their entire operations run more efficiently.
TransUnion, Chicago, Ill., released its Q3 2023 Quarterly Credit Industry Insights Report, finding higher interest rates and prices for goods have pushed credit balances up. Simultaneously, mortgage originations–and other new credit accounts such as automobile loans–are lagging last year.
MISMO, the real estate finance industry’s standards organization, announced that it is seeking public comment on the updated MISMO Engineering Guideline (MEG) 7. The 30-day public comment period runs through Dec. 8, 2023.
Planet Home Lending’s Chris Joles: Climate Risk and Impending Alterations in Hazard Insurance and the Subsequent Impact on Mortgage Banking
The evolving landscape of climate risk and hazard insurance is poised to usher in substantial changes that promise to affect all stakeholders in the mortgage industry.