Mortgages

While using the 30-day SOFR as its index, Freddie Mac structured the deal so it could shift to a one-month term if and when that rate is approved.

The CEO of SWBC Mortgage discusses her top priorities for the Mortgage Bankers Association, the election, the CFPB's seasoned QM proposal and what to expect at this week's conference.

This year will top the total volume generated in the housing boom year of 2003. Meanwhile, next year's 30-year FRM is predicted to stay at 2.8%.

As financial distress mounted, 12.4% of mortgagors missed payments across the second and third quarters of 2020 — and it could get worse, according to a study from the Mortgage Bankers Association.

Just a week after commenting that the bottom on mortgage rates was possibly reached, Freddie Mac reported that they fell 6 basis points to another record low.

Mortgage applications decreased 0.7% from one week earlier, but lending activity should continue strong for the remainder of the year as rates stay low, according to the Mortgage Bankers Association.

While overall mortgage delinquency rates slowly descend, serious delinquencies — especially loans past 120 days due — jumped in July, according to CoreLogic.

Forbearance rates dropped below 7% for the first time in six months, but the decrease is largely due to the ending of the initial six-month term of forbearance granted by the legislation, according to the Mortgage Bankers Association.

The recent decrease in the rate at which current loans became impaired could further encourage the cautious return of the non-QM market currently underway.

The Consumer Financial Protection Bureau's overhaul of its Qualified Mortgage standard is alarming free-market advocates who say it will precipitate a return to easy credit and higher defaults and could disproportionately harm minorities.

Mortgage rates remained flat this week, a sign that the bottom has possibly been reached, but the housing market looks to remain strong for the near future, according to Freddie Mac.

The deal consists of 11,673 nonconforming first-lien mortgages, of which nearly all have been previously modified. Approximately 7% are in COVID-19-related forbearance.

Low mortgage rates and strained supply drove the housing market price growth to a 26-month high in August, according to CoreLogic.

Three nonprofits look to create or preserve 10,000 units, vowing to fight off firms like Blackstone and Colony Capital, which bought up foreclosed homes after Great Recession.

GSE mortgages in forbearance fell for the 17th straight week, spearheading the overall downtrend, according to the Mortgage Bankers Association.

Kathy Kraninger’s job status would be in question if Joe Biden wins the White House. If the president is reelected, she may continue balancing a deregulatory agenda with her unexpectedly tough stance on enforcement.

Over 3.6 million borrowers sit in coronavirus-related forbearance with portfolio and private-label securitized loans driving the week's increase, according to Black Knight.

Overall debt outstanding for delinquent commercial and multifamily mortgages cut down in September as more of the economy opens further with lodging and retail far behind, according to the Mortgage Bankers Association.

The bureau released a five-year review of the so-called TRID regulation that found consumers benefited from being able to compare mortgage terms and costs, but the price tag for the industry was roughly $146 per loan.

Customers suffered when they were placed in mortgage relief plans without their consent, the Massachusetts senator says. She urged the Federal Reserve to take the blunder into account as it weighs when to lift other sanctions against the bank.