Bankruptcy filings nationwide totaled 67,712 over 21 filing days for the month of August, the third-lowest monthly total in 2015 and a decline of more than 7,000 from August 2014, according to August 2015 AACER bankruptcy data reported by Epiq Systems. Filings were lower in August 2015 by 7,522 from the previous August. The total of 67,712 for the month was third-lowest this year behind January (59,087) and February (65,054).
Read More »Foreign Central Banks Cutting Back on U.S. Mortgage-Backed Securities
Last week, data from the Federal Reserve indicated that foreign central banks had reduced holdings of agency debt and MBS at the Fed to their lowest level since early May ($285.21 billion),
Read More »HUD Secretary Castro Praises Nation’s Progress Made Toward Fair Housing
"This is an exciting time for all Americans who care about fair housing," Casro said. "Our nation has made significant strides in shaping a society that’s open to all."
Read More »OCC Is Concerned That Banks ‘Continue to Fail’ With SCRA Compliance
The Office of the Comptroller of the Currency (OCC) has expressed concern that some banks and nonbank financial institutions are failing in the area of compliance with the Servicmember Civil Relief Act (SCRA) of 2003 and not providing members of the military with all the protections the law affords them.
Read More »Existing-Home Sales Gains May Be Slowing Down
While existing-home sales have seen solid gains in 2015, reaching levels not seen since before the crisis seven years ago, the rate of increase may be slowing down, according to data released by Auction.com on Tuesday.
Read More »Delinquency Rates Remain Low Across SFR Securitizations
According to Morningstar, the retention rate for month-to-month leases improved for most of the transactions in July after dropping in 15 out of 17 transactions in June. The retention rates of scheduled lease expirations remained within Morningstar's expectations for July, in the mid-70s.
Read More »Fannie Mae’s Mortgage Portfolio and Serious Delinquency Rates Drop Yet Again
The serious delinquency rate on single-family mortgage loans backed by Fannie Mae dropped another three basis points down to 1.63 percent in July and is now well below its pre-crisis level.
Read More »Reliable Housing Market Forecasts Need Both Statistics and Human Judgment
Freddie Mac's monthly Insight & Outlook report for August 2015 released Monday found that a substantial amount of human judgment is required in addition to statistics when determining if a housing market is overvalued or when home prices are likely to drop.
Read More »Agency Purchase Loans Become Riskier
Also according to AEI's July report, 71 percent of Agency purchase loans had down payments of 5 percent or less, and 25 percent of them had DTI ratios greater than the QM limit of 43 percent. The median FICO score for first-time buyers was 709, a bit below the median for all individuals in the United States.
Read More »Congress Urged to Pass Bill to Protect Taxpayers from Another Fannie Mae and Freddie Mac Bailout
The Competitive Enterprise Institute (CEI) and 14 other organizations have written an open letter to the U.S. House of Representatives and the U.S. Senate urging them to pass legislation that would provide a cushion to prevent another taxpayer bailout of Fannie Mae and Freddie Mac.
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