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Mortgage delinquencies rise but foreclosures lag - National …
Oct 23, 2024 · The total delinquency rate, defined as loans 30 days or more late on payment but not yet in foreclosure, was 3.48% in September. That was an increase of 4.3% compared to August's 334 basis point rate and up by 5.74% compared with September 2023's rate of 329 basis points.. This data follows the Mortgage Bankers Association's recent report that performance on loans that had been in forbearance ...
National Mortgage News - November-December 2024
More "Airbnb-style" rental property loans are making their way into non-qualified mortgage securitizations and could they be acting differently from the traditional non-owner occupied loans, a Standard & Poor's report asks.
Fannie Mae's 2025 forecast turns bearish | National Mortgage News
Nov 21, 2024 · That is a significant revision in comparison to October's call for rates to be at 6% in the final three months of the year. The 30-year fixed rate average will moderate over the next four quarters, but only drop to 6.3% by year-end 2025, and to 6.1% by the final quarter of 2026.
Are trigger leads close to getting corked? - National Mortgage News
Sep 20, 2024 · The Senate's version of the National Defense Authorization Act includes a rule that bars the furnishing of a credit report pulled for a mortgage loan to anyone else unless the consumer approves.
Mortgage default levels are providing a warning sign
Nov 22, 2024 · October's total delinquency rate — loans 30 days or more late but not yet in foreclosure — was 3.45%, the First Look report found. While that was down by 0.79% from September, the year-over-year change of 5.95% represents five …
Fannie Mae, Freddie Mac's regulator raising multifamily caps
Nov 19, 2024 · The Federal Housing Finance Agency has put the quasi-public loan buyers it oversees on a course to increase their apartment lending in the new year. Fannie Mae and Freddie Mac each will start 2025 with a $73 billion maximum for the unpaid principal balance of multifamily mortgages they can buy, up ...
Mr. Cooper makes executive changes focused on digital mortgages
Oct 9, 2024 · Prerna Kandhari will focus on data engineering. Kandhari most recently served as director of software engineering at Capital One. David Graham, a managing director at Royal Bank of Canada with oversight over operational risk, is set to become responsible for data governance at Mr. Cooper.
Why and how the MSR market is consolidating
Nov 21, 2024 · Further complicating counterparty assessments and MSR valuations is the fact that mortgage rate forecasts have been uncertain. "Interest rate volatility is very high," said John Sim, head of securitized product research at JPMorgan Securities, noting that recent forecasts call for a decline in rates to around 6.25%, at the most, next year.
FHA looking at rental income underwriting change
Nov 20, 2024 · A new draft mortgagee letter was issued for feedback on Nov. 20, with responses accepted until Dec. 10. Last week, the Department of Housing and Urban Development released its annual report that noted the Mortgage Mutual Insurance Fund's capital ratio grew to 11.47%, renewing calls from the lending industry and affordable housing advocates to increase flexibility by ending the life-of-loan ...