Total loans in forbearance during the week ending November 22 increased 6 basis points relative to the prior week—from 5.48% to 5.54%, according to the Mortgage Bankers Association's (MBA) Forbearance and Call Volume Survey published Tuesday. The MBA estimates 2.8 ...
Read More »FHA Raises Single-Family Loan Limits
Federal Housing Administration (FHA) announced higher loan limits for 2021. The guidelines apply to the administration's Single Family Title II forward and Home Equity Conversion (reverse) Mortgage insurance programs. The rise in loan limits correlates with nationwide home price appreciation ...
Read More »The CFPB Adds Five to Its Executive Team
The Consumer Financial Protection Bureau (CFPB) announced additions to its executive team. According to a press release, the bureau—"which helps consumer finance markets work by regularly identifying and addressing outdated, unnecessary, or unduly burdensome regulations, by making rules more effective, ...
Read More »Loan Application Defects Are Down From 2019
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 »Navigating a Potential Bankruptcy Surge
In this week’s special extended edition of DS5: Inside the Industry, BK Global CEO Brad Geisen discusses the challenges his industry might face in the coming years including anticipated unemployment and bankruptcies and the potential impact on homeownership. "Bankruptcy is ...
Read More »Top 10 Safest Cities in the U.S.
2020 has posed new safety concerns across the country—from spikes in COVID-19 cases, to recent wildfires, storms, and other natural disasters. Still, problems like crime and financial safety continue to be cause for concerns for many cities. WalletHub recently released ...
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 ...
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