Servicing Quote Tuesday, June 25, 2024

“The performance of servicing portfolios in May was solid, with about 96% of borrowers making their mortgage payments on time.”
–Marina Walsh, CMB, MBA’s Vice President of Industry Analysis

Servicing Quote Tuesday, June 18, 2024

“Since the implementation of NSPIRE in October, servicers have experienced difficulties logging into the system, scheduling inspections, maintaining inspection schedules and reviewing reports.”
–MBA President and CEO Robert D. Broeksmit, CMB

Servicing Quote Tuesday, June 11, 2024

“Home equity is key to mortgage holders who have seen other homeownership costs soar, including insurance, taxes and HOA fees, as a source of financial buffer.”
–Selma Hepp, CoreLogic Chief Economist

Servicing Quote Tuesday, June 4, 2024

“Predictions of a huge spike in foreclosures after the moratorium, with the potential for a surge in zombie properties, never came true. Indeed, the opposite has happened, as abandoned homes in foreclosure continue to get harder and harder to find around the country.”
–Rob Barber, CEO for ATTOM

Servicing Quote Tuesday, May 28, 2024

“Servicing profitability also improved, given low prepayment activity and preservation of servicing values. Including both the production and servicing business lines, close to 60% of mortgage companies were profitable in the first quarter of this year–the highest level in eight quarters.” 
–Marina Walsh, CMB, MBA’s Vice President of Industry Analysis

Servicing Quote Tuesday, May 21, 2024

“The number of loans in forbearance has remained stagnant for the first four months of 2024.”
–Marina Walsh, CMB, MBA’s Vice President of Industry Analysis

Servicing Quote Tuesday, May 14, 2024

“We share FSOC’s goals of a safe, stable, and sustainable financial services marketplace, but some of the report’s recommendations are unnecessary.” –MBA President and CEO Bob Broeksmit, CMB

Servicing Quote Tuesday, May 7, 2024

“Achieving these goals and setting up an effective VASP program will require all stakeholders to execute a complex loss mitigation and servicing transfer process. We are concerned with the lack of information and guidance on how to do so.”

–Mortgage Bankers Association and Housing Policy Council in a letter to the Department of Veterans Affairs regarding VASP implementation

Servicing Quote Tuesday, April 30, 2024

“The U.S. delinquency rate fell from a year earlier for the first time in six months in February, indicating that mortgage performance remains strong.” 
–Molly Boesel, Principal Economist for CoreLogic

Servicing Quote Tuesday, April 23, 2024

“Homeowners living in areas where insurance premiums are surging are at risk of seeing their properties gain less value than homeowners in areas with stable premiums—and in some cases, they may even lose money,”
–Redfin Chief Economist Daryl Fairweather.