Mortgage interest rates are at record lows and purchase loan application data indicates tremendous demand for homebuying, according to the data analysts at CoreLogic. In an article published Wednesday, CoreLogic compared the credit attributes for conventional conforming loans in Q2 ...
Read More »Industry Leaders Address Racial Inequalities, Refi Fees, and Technology
Representatives from organizations including FHFA, FHA, GSEs, and HUD all spoke during a virtual event this week by the Mortgage Bankers Association (MBA). See remarks from FHFA's Mark Calabria, here. The facilitator of a virtual event Tuesday said, during a ...
Read More »Delinquency Rate Doubles Great Recession Peak
In July 2020, 6.6% of mortgages in the U.S. were delinquent by 30 days or more including those in foreclosure; this represents a 2.8-percentage point increase in the overall delinquency rate compared with July 2019. The CoreLogic Loan Performance Insights ...
Read More »FHA Announces COVID-19 Forbearance Request Extension
The Federal Housing Administration (FHA) and U.S. Department of Housing and Urban Development (HUD) today announced it is extending the date for single family homeowners with FHA-insured mortgages to request an initial forbearance from their mortgage servicer to defer their ...
Read More »Residential Construction Reflects ‘Record-High Builder Optimism’
The U.S. Census Bureau released its construction statistics for September, recording a 1.9% increase in housing starts compared to August. Single-family residential starts rose 8.5% over the month to 1.1 million annualized units, a level not seen since 2007. Realtor.com's Chief ...
Read More »FHFA’s Calabria on Loan Extensions and New GSE Rule
FHFA Director Mark Calabria spoke Monday at a virtual event, where his session focused on the agency’s current priorities— the talk included two announcements, one about a new GSE-feedback rule, and the other related to extensions to loan flexibilities. Calabria ...
Read More »New-Home Construction in Areas at Risk of Wildfire
According to data related to wildfires, new homes continue to be constructed in high risk areas. Cape Analytics used artificial intelligence to analyze wide swaths of geospatial imagery to help insurers and other companies better understand properties and property risk, ...
Read More »Q3 Foreclosure Starts Have Decreased Most in These Cities
While foreclosure starts are down to the lowest levels since 2008, the impact of a national health crisis and related foreclosure moratoria is different for various parts of the country. ATTOM Data Solutions, which published a September and Q3 2020 ...
Read More »Millions Missed Housing Payments Last Month
In estimating how much distress the COVID-19 crisis has brought upon homeowners, the Mortgage Banker's Association (MBA) determined, via its Research Institute for Housing America (RIHA), that some 6 million households missed rent or mortgage payments in September. Though the ...
Read More »Tracking the Week’s Forbearance Activity
After last week’s news regarding the significant drop in forbearance volumes, the market saw an uptick of 19,000 loans this week. Black Knight’s McDash Flash Forbearance Tracker shows that though volumes increased week-over-week, there is still reason to be optimistic ...
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