This topic consolidates the heartbeat of today's mortgage banking environment with news stories relevant to the financial compliance industry.
M Report – Eric C. Peck
According to its latest Weekly Mortgage Applications Survey, the Mortgage Bankers Association (MBA) has reported that mortgage application volume increased 5.5% over last week.
DS News – Kyle G. Horst
According to ATTOM and its subsidiary RealtyTrac, the recent Foreclosure Market Report for October shows that there was a total of 20,587 properties with foreclosure filings against them, up 5% from September and 76% from September a year ago. This increase marks the sixth consecutive increase year-over-year.
Search our Compliance Calendar for current regulatory changes & updates.
Scotsman Guide - Arnie Aurellano
According to CoreLogic’s latest Loan Performance Insight Report, the mortgage delinquency rate is down 2.6 percentage points year over year, but overall delinquencies still remain above the early 2020 pre-pandemic rate of 3.6%, and the share of borrowers behind on their payments by at least six months was 2% in August, half of the overall delinquency rate of 4%.
Mortgage Bankers Association
According to Auction.com, completed foreclosure auctions in the third quarter increased by 16 percent from the previous quarter and by 89 percent from a year ago to a new pandemic high.
Housingwire--Georgia Kromei
The 50 basis point adverse market fee applied to refinance loans netted the GSEs $5.3 billion from August 2020 - August 2021.
Scotsman Guide - Arnie Aurellano
Due to the all-time high median price of a new home and home price growth outpacing wage growth, a new study by real estate tech platform Knock shows that the minimum household income to qualify for a new construction home falls just under $80,000 which is more than nearly 60% of American households earn.
ACES ENGAGE 2025 registration now open!
Join us at the Broadmoor in Colorado Springs on May 18-20, 2025.
Scotsman Guide - Arnie Aurellano
Still rising home prices have led to seller profits hitting their highest level in 10 years according to Attom Data Solutions, which reported that profit margins on median-priced single family home sales grew to 47.6% during Q3, up from 42% in the second quarter and 34.5% in the same quarter of last year.
DS News – Kyle G. Horst
According to the Home Data index Market October 2021 report, the average American home increased in value by 5.3% over the last quarter.
DS News - Kyle G. Hurst
According to Epiq’s October 2021 bankruptcy filing statistics, Bankruptcies filings continue to rise.
Mortgage Professional America--Richard Torne
According to a new report by property analytics warns that the number of vacant residential properties is down, but foreclosure activity "stands at a precipice" and "already on the upswing".
"By partnering with ACES, we have witnessed an overall improvement in the quality of our reviews."
-Hilda Melendez, Quality Control Systems Director at Lennar Mortgage
The Washington Post - Michele Lerner
A new Freddie Mac program providing closing cost credits to owners of multifamily properties who report on-time rent payments through Esusu Financial is aimed to help renters build their credit history.
Mortgage Bankers Association
According to a report released by the Consumer Financial Protection Bureau (CFPB), consumers in a minority community, young consumers, and those with low credit scores are more likely to have disputes appear on their credit reports.
Mortgage Bankers Association
The Mortgage Bankers Association and several trade groups encourage the Senate Banking Committee to Approve LIBOR ‘Tough Legacy’ Legislation.
Mortgage Bankers Association
According to CoreLogic, homebuying demand remained high in September, with limited housing supply continuing to drive up prices by 18% year over year.
