Tag Archives: American Bankers Association

Attorney Rich Haber of McCalla Raymer Leibert Pierce discusses the impact of New York’s Foreclosure Abuse Prevention Act on the industry.

Make sure that your Section 1304 notices do not include anything beyond what the statute expressly prescribes, and it is mailed in a separate envelope. Arsenio Rodriguez and Ali Degan Esq. from Stern & Eisenberg, P.C. explain this crucial detail.

Numerous industry groups weighed in on the implications and impact of the new presidential administration. Here's what they had to say.

What trends are impacting the landscape of lending and servicing in 2018? A new survey from the American Bankers Association seeks to provide insights into that topic, having polled 161 banks to assemble its data. The ABA’s 25th Residential Real ...

Two different reports show small increases in loan delinquencies in the back half of 2017, but the percentages remain comparatively low and bode well for the state of the economy in 2018. The American Bankers Association Consumer Credit Delinquency Bulletin ...

Personal income grew in August at its fastest pace since February and consumer spending grew faster than July, the Bureau of Economic Analysis reported Friday. The growth matched economist forecasts of a 0.4 percent boost in income and a 0.3 percent increase in spending.

Home-related loans struggled in the second quarter of 2012, while bank card delinquencies fell to an 11-year low, according to a report from the American Bankers Association.

In a commentary, Fitch stated the proposed uses of eminent domain in California could negatively affect private label RMBS performance. Recently, the board of supervisors of San Bernardino County voted to form a joint powers authority with California cities Fontana and Ontario to look into the option of using eminent domain to seize underwater mortgages. Fitch said one proposal, which is of particular concern, indicates that only current and delinquent mortgages, not those in foreclosure, would be eligible. Thus, borrowers who would have stayed current on their payments could have their mortgage seized by the local, state, or county government. If eminent domain was to be used in such a way, then holders of the seized homes could experience losses, Fitch said.

Out of 11 categories of loan types, only home equity lines of credit (HELOC) rose, according to a report from the American Bankers Association (ABA). The report showed that for the first quarter of 2012, the delinquency rate for open-end home equity lines of credit rose from 1.69 percent to 1.78 percent. Open-end loans are those with a fixed amount of available credit but a balance that changes based on usage. ABA Chief Economist James Chessen attributed the increase to the painful adjustment still underway in the housing sector.

The debate over what constitutes a Qualified Residential Mortgage (QRM) is heating up, with a pivotal argument centered around whether or not the proposed QRM stipulations will actually lower the risk of default. In one corner you have the handful of regulators charged with putting the definition of QRM into the rule book, and in the other corner you have just about everybody else, with consumer advocates joining mortgage bankers in a rare showing, and congressional lawmakers standing firmly alongside them.