The Loan Application Defect Index (LADI) remained steady in October compared with the prior month but remains 10% lower than October 2019; purchase-loan fraud risk increased 1.2% month-over-month, and less risky refinance fraud risk did not change, according to First American Mortgage Solutions' ...
Read More »GSEs Release Mortgage Portfolio Updates
Fannie Mae and Freddie Mac released monthly summary reports covering October. The reports contain information about the GSEs' monthly and year-to-date activities related to gross mortgage portfolios; mortgage-backed securities; and other guarantees, interest rate risk measures, serious delinquency rates, and ...
Read More »Initiative Targets ‘Disproportionate’ Challenges of Black Homeownership
Black homeowners face more foreclosures, more tax liens, and higher unemployment rates than their non-Black counterparts—a New York City-based project powered by data and artificial intelligence revealed these racial disparities in homeownership. The collaboration between SAS Advanced Analytics and Center ...
Read More »What is Driving the Increase in Forbearance Activity?
The data analysts at Black Knight on Friday published weekly forbearance numbers. Due to the Thanksgiving holiday, the data covered activity through Monday (November 23) as opposed to the usual one-week period. According to a Black Knight representative, in summary, ...
Read More »Credit Scores and Down Payments Reach All-Time Highs
Faced with elevated home prices and stricter credit requirements, borrowers in Q3 placed, on average, higher down payments on their mortgage loans than ever before, according to Bloomberg. Citing a report from ATTOM Data Solutions, Bloomberg reports the median down ...
Read More »Biden Says His Economics Team ‘Will Deliver Immediate Relief’
President-elect Joe Biden on Monday officially nominated former Federal Reserve Chair Janet Yellen as his Treasury Secretary. This is a confirmation of news reported here last week. Biden-Harris' economics-team announcements, like other transition notifications (which the New York Times is tracking ...
Read More »The Week Ahead: CARES, Home Sales, Construction, and Jobs
The Committee on Banking, Housing, and Urban Affairs will meet Tuesday, December 1 in open-session, hybrid format, to conduct a hearing entitled "The Quarterly CARES Act Report to Congress." Content from the last such quarterly report is documented in this ...
Read More »The Benefits of Homeownership Often Elude Black Americans
Owning a home is a tool for building wealth and stability, but a report from researchers at the Urban Institute indicates that is less applicable to people of color. Not only do Black Americans face more barriers to homeownership, but ...
Read More »Janet Yellen Is Biden’s Treasury Secretary Pick
President-Elect Joe Biden has chosen former Federal Reserve Chair Janet Yellen as his Treasury Secretary, several news outlets report, and the Associated Press has confirmed, through an unnamed source. Yellen would be the first woman to head the U.S. Treasury—and ...
Read More »Loan Performance Report Reveals ‘Good News’
According to a representative from Black Knight, their data analysts' monthly loan-performance report contains "pretty much good news all around, though most of it is the slow-and-steady-wins-the-race variety." In summary, mortgage delinquencies continued to improve in October, falling another 3.3% ...
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