Mortgages

The majority of borrowers impacted by Hurricane Harvey have a significant amount of equity, while many in Hurricane Irma disaster areas have limited or negative equity, according to Black Knight Financial Services.

The House passed a bill Thursday making it easier to obtain private flood insurance policies, but moments later the Senate took a pass on the legislation.

Trepp reports that further declines are possible as the wave of maturing pre-crisis mortgages appears to have been reduced to more of a ripple.

The amount of commercial and multifamily mortgage debt outstanding ticked up from April through June, yet the balance of loans in commercial mortgage-backed securities continued its decline.

Nearly half of the properties are in New York (30.3%), New Jersey (10.4%) or Florida (8.7%), states that require a court to sign off on a foreclosure, a lengthy process that could affect the timing of payments.

Mortgage delinquencies in areas affected by Hurricane Harvey last month were 16% higher than in July, according to Black Knight Financial Services.

Vandy Fartaj, the firm’s chief capital markets officer, says a novel deal structure allows the real estate investment trust to issue additional term notes its portfolio of mortgage servicing rights grows.

Hurricane Irma could potentially affect more private-label mortgage securities collateral than any other recent storm.

The portfolio of conforming loans is currently being subserviced by Nationstar Mortgage Holdings on behalf of Seneca Mortgage Investments.

Given the scale of damage to the region’s homes and cars, bankers are guarding against an expected spike in missed payments by extending loan terms, deferring payments and making other concessions.

As housing demand continues to challenge low levels of supply, home prices are overvalued in 34% of the largest U.S. metropolitan areas, according to CoreLogic.

The transaction would be the third under Freddie's Seasoned Loan Structured Transaction (SLST) program.

The average home value backing the loans is $117,000, well below the average $150,000 of other recent RPL securitizations, according to Fitch Ratings.

Fannie Mae and Freddie Mac will adjust their risk-sharing deals so that they can accommodate high loan-to-value loans refinanced under the programs replacing the Home Affordable Refinance Program.

The gulf between those at the upper ends of the wealth ladder and lower-income Americans has worsened markedly since the financial crisis, despite the trillions of subsidies that taxpayers provide for housing.

A Fed committee studying Libor’s replacement has dwelled heavily on the potential impact to the derivatives market. Loans may become a bigger part of the conversation later this year, but the panel plans to leave a lot of the specifics up to lenders.

Auto, personal and credit card originations have fallen as delinquencies have risen, but researchers called the slowdown a temporary rebalancing by lenders.

Balances 90 days past due are noticeably higher in 2017, new N.Y. Fed data shows. Though the trend has a lot to do with positives like economic expansion and easier access to credit, officials say it deserves careful attention.

Dividend payments by Fannie Mae and Freddie Mac are due to come one day after the U.S. is estimated to hit the debt ceiling, raising the stakes in the debate over whether those payments should continue.

So-called transitional lending has traditionally been kept on balance sheet; but it’s become attractive to bundle the loans for transactions called (take a deep breath) commercial real estate collateralized loan obligations. Can investors stomach the features these deals sported before the crisis?