MBA President and CEO Robert Broeksmit, CMB, testified before Congress last week. He told the House Financial Services Committee that MBA strongly opposes key elements of the Basel III proposal, which, absent significant revisions, could increase borrowing costs and reduce credit availability.

The Mortgage Bankers Association’s (MBA) monthly Loan Monitoring Survey revealed that the total number of loans now in forbearance decreased by 6 basis points from 0.39% of servicers’ portfolio volume in the prior month to 0.33% as of August 31, 2023. According to MBA’s estimate, 165,000 homeowners are in forbearance plans. Mortgage servicers have provided forbearance to approximately 7.92 million borrowers since March 2020.

WASHINGTON–Amid a cascading series of natural disasters, the homeowners’ insurance market has been seriously disrupted, and is likely to remain that way for the foreseeable future, panelists said at the Mortgage Bankers Association’s Compliance and Risk Management conference.

ATTOM, Irvine, Calif., reported in its August 2023 U.S. Foreclosure Market Report that there were 33,952 U.S. properties with foreclosure filings. That’s up 7% from July but down 2% year-over-year.

New Zillow research shows that more than 80% of prospective home buyers consider climate risks as they shop.