This past September is the first month—since COVID-19 first began effecting the economy—to record a drop in the serious-delinquency (90+ days past due) rate, Black Knight reported Thursday. "The number of seriously delinquent mortgages (90+ days) fell by 43,000 in ...
Read More »Explaining September’s Existing-Home Sale Surge
Existing-home sales in September "soared," according to a report Thursday from National Association of Realtors (NAR). An existing home in September sold for a median price of $311,800, a 14.8% gain compared with September of last year. That's one takeaway ...
Read More »FHFA Updates Policy on Single-family Mortgages in Forbearance
The Federal Housing Finance Agency (FHFA) has announced a one-month extension of its temporary policy of allowing the purchase of certain single-family mortgages in forbearance that meet specific eligibility criteria as set by Fannie Mae and Freddie Mac. The policy, ...
Read More »Hitting a Moving Target
Editor's note: This story originally appeared in the October edition of DSNews. How do you solve (or prepare for) a problem you know is coming but don’t know how big it’s going to be? That’s the challenge facing the industry, several ...
Read More »Housing Activity Heats Up as Weather Cools
According to research by BuildFax, the housing market is heating up, just as temperatures are starting to cool. With Autumn’s approach, BuildFax points to America’s overall housing activity humming along, growing at a steady pace as we say goodbye to ...
Read More »How COVID-19 Impacts Underwriting Standards
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 »How the CFPB is Helping Homeowners Struggling with Payments
The pandemic, along with the economic downturn it has caused, leaves homeowners across the country struggling to meet their mortgage payments. This has put more pressure on the Consumer Financial Protection Bureau (CFPB) to find ways of helping homeowners who ...
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 »Why Credit Scores Are Rising Amid National Crisis
The average FICO credit score hit a record high of 711 this past July. This uptick to the score may come as a shock, especially since it has taken place several months “knee deep” amid a global pandemic, FICO representatives ...
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