Mortgages

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.

Mortgage rates fell back toward their all-time low this week, increasing purchasing power for homebuyers. But the lack of homes for sale drives up prices and reduces affordability, according to Freddie Mac.

Delinquencies will rise due to the severe effects of the pandemic on the commercial property sector, Fitch said.

Student housing and assisted/independent living centers were small portions of Freddie's multifamily securitizations prior to COVID, but Kroll noticed they've been missing in most rated deals since spring.

Mortgage applications decreased 4.8% from one week earlier, as refinance activity was down even as average rates fell to a new record low, according to the Mortgage Bankers Association.

Gov. Andrew M. Cuomo on Monday announced he will extend the eviction moratorium — set to expire Oct. 1 — to next year, continuing protections for tenants as well as homeowners who have been unable to pay rent and mortgage during the public health crisis.