This week, on Monday, November 23, Black Knight will release its First Look at July mortgage performance data. Monday's delinquency numbers, which will cover October 2020, count all homeowners who have missed payments, whether they are in forbearance plans or ...
Read More »Forbearance Volumes Change Course
After falling by 273,000 or 9% over the past two weeks, forbearance volumes edged upward this week. Data collected by Black Knight through November 17 showed that about 5.2% of all active mortgage loans nationwide are in forbearance programs—that's about ...
Read More »The Industry Pulse: Leadership, Acquisitions, and Partnerships
Minneapolis-based Bell Bank has hired Jesse Schwab as EVP/Chief Risk Officer, with oversight of all non-credit related risk management for Bell Bank and its divisions. “We’re excited to have Jesse join our growing Bell team,” said Michael Solberg, Bell’s president and CEO. “His experience in this arena will help us implement additional risk management processes and policies. ...
Read More »Housing-Starts Increase ‘May Soon Pause’
The U.S. Census Bureau released its construction statistics for October—which shows permits, starts, and completions—recorded a 4.9% increase in housing starts in October compared to September. Fannie Mae's Chief Economist Doug Duncan points out that the increase was driven by single-family housing ...
Read More »Smaller-Scale Property Investors Feel Mounting Fiscal Pressure
Smaller-scale landlords report feeling increasing pressure due to the COVID-19 pandemic and related forbearance plans and eviction moratoria. A co-study by Urban Institute and Avail, a platform that periodically surveys its landlords and tenants, showed 35.2% of the surveyed property ...
Read More »Two Industry Veterans Lead Law Firm’s Expansion
Philadelphia, PA-based Brock & Scott, PLLC announced the expansion of its default law practice into Pennsylvania and New Jersey. Rosemarie Diamond and Jay Jones, two recognized industry veterans with a combined 45-plus years protecting creditors' rights in the states of ...
Read More »Extensions Account for Most Forbearance Activity
The Mortgage Bankers Association's (MBA) reported this week that the number of loans in forbearance dropped last week, marking the 11th week in a row of decreases. MBA estimates that as of November 8 2.7 million homeowners are in active ...
Read More »Bell Bank Hires Schwab as Chief Risk Officer
Minneapolis-based Bell Bank has hired Jesse Schwab as EVP/Chief Risk Officer, with oversight of all non-credit related risk management for Bell Bank and its divisions. Schwab has joined Bell’s executive leadership team and has offices at Bell’s Minneapolis–Colonnade and Bloomington–Bell Plaza locations. “We’re excited to have Jesse join our growing Bell team,” ...
Read More »A Week of ‘Strong Forbearance Improvement’
After declining by 5% last week, the number of mortgage loans actively in forbearance dropped again this past week, according to Black Knight, which calls the week of November 3-10 one of "strong forbearance improvement." "The decline was seen across ...
Read More »Mortgage Professionals Gather to Discuss Diversity and Inclusion
Five Star Global’s American Mortgage Diversity Council (AMCD) this week hosted its Fall Virtual Member Meeting, “Connecting Across Distances,” during which industry professionals gathered to address race and inclusion. AMDC’s Vice-Chair Jodi Gaines, Chief Client Officer at Insight One Financial, says she believes this type of event is invaluable ...
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