While the falling home loan rates mean a booming business for the mortgage industry and a sign the housing market may help the U.S. economy avoid a true recession, it could also pose a challenge for those trying to process the influx of applications and requests. The digital mortgage servicing journey must focus on streamlining the process through technology and data-enabled solutions.
Tag: Coronavirus
CMBS Report: More Than 2,600 U.S. CMBS Borrowers Seek Coronavirus Relief; Delinquency Reports Mixed
Fitch Ratings, New York, reported more than 2,600 commercial real estate borrowers, representing $49.1 billion of mortgage loans, have sought potential debt relief during the first two weeks of the U.S. coronavirus outbreak.
MBA Takes Issue with Calabria’s Downplay of Need for Servicer Liquidity Facility
The Mortgage Bankers Association called “troubling” comments by Federal Housing Finance Agency Director Mark Calabria in which he dismissed the immediate need for a federally backed liquidity facility to assist mortgage servicers with forbearance efforts resulting from the coronavirus pandemic.
MBA Mortgage Action Alliance ‘Call to Action’ Urges Governors to Prioritize Mortgage Relief Efforts
The Mortgage Action Alliance, the grassroots advocacy arm of the Mortgage Bankers Association, issued a “Call to Action” yesterday, asking its members to contact their state governors and urge them to prioritize mortgage and rental assistance for those in greatest need.
MBA April Economic Commentary: Economy Slows Sharply; Massive Job Loss; but V-Shaped Recovery in Forecast
The spread of the coronavirus has slowed global and U.S. economic activity to a halt. Public and private measures to stem the spread of the virus have led to indefinite interruptions in many sectors of the economy, as well as future uncertainty surrounding how long this pause in the global economy will last and what the potential economic losses could be.
Federal, State Agencies Issue Joint Statement Encouraging ‘Flexibility’ with COVID-Impacted Homeowners
Federal and state regulatory agencies on Friday issued a statement conceding the need for regulatory flexibility as mortgage servicers work with struggling homeowners affected by the coronavirus pandemic.
MBA, Trade Groups Release Statement Urging Regulators to Establish Liquidity Facility
The Mortgage Bankers Association and a broad coalition of organizations representing financial industry and affordable housing advocates on Saturday released a statement calling on government regulators to provide a source of liquidity to those mortgage servicers that may need additional capacity to support homeowners and renters impacted by COVID-19.
ATTOM: February Foreclosure Activity at Record Low
ATTOM Data Solutions, Irvine, Calif., reported 48,004 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — in February, the lowest number of total foreclosure filings recorded it began tracking in April 2005.
Mortgage Action Alliance ‘Call to Action’ Targets States’ ‘Essential Services’ Designation
The Mortgage Action Alliance, the grassroots advocacy arm of the Mortgage Bankers Association, issued a “Call to Action,” urging its 23,000-plus members to urge state governors and officials to include government agencies and offices that support housing and mortgage transactions as “essential services” during the coronavirus pandemic.
MBA, Trade Groups Petition FCC for ‘Emergency Purposes Exception’ on Mortgage Servicing Calls
The Mortgage Bankers Association joined other industry trade groups in a letter Monday to the Federal Communications Commission, arguing that mortgage servicing calls (and other financial institution notices) should be deemed emergency calls by the FCC and exempt from the Telephone Consumer Protection Act during the COVID19 emergency.