Forbearances rose for the first time since 2022 last month but foreclosures remain few and far between. The Mortgage Bankers Association recently reported that the total number of loans in forbearance increased to 0.23% as of June 30. This puts approximately 115,000 homeowners in forbearance plans. Government loans in particular saw weakness in the performance…
The share of mortgage holders with rates of 5% or higher is now 24%, up from 10% two years ago, suggesting a refi tipping point could be on the horizon. Four million loans originated since 2022 have rates of 6.5% or higher, according to ICE Mortgage Technology’s Mortgage Monitor. An additional 1.9 million have rates greater…
April brought continued delinquency improvements, with serious delinquencies down to one of their best levels in nearly 20 years. That’s according to new data from ICE, which showed that the national delinquency rate fell to 3.09% in April, the second-lowest level ever recorded. This is only bested by March 2023’s low of 2.92%, and a…
The recent surge in home prices pushed U.S. homeowners’ tappable equity to a record $11 trillion. Prices were on a run in March, according to the ICE Home Price Index, up 1.2% and more than 25% above the 25-year average increase. This is the third straight month of above-average gains as stock shortages keep competition…
ICE rolled out a new interface for its mortgage loan servicing system with “conversational” capacities. The MSP Digital Experience (MSP DX) streamlines workflows and increases efficiency for servicing pros by providing “a more intuitive, dynamic and conversational” way to interact with the system. Users can ask the system for what they need using everyday language,…
Inventory and rate pressures are creating conditions for a “quieter” spring homebuying season. That’s according to HouseCanary’s March Market Pulse Report, which found that while inventory is up 12.6% YOY, total stock remains historically low. In March, net new listings slipped 4.4% YOY. For the entire last 52 weeks, net new listings were down 12.4%….
First-time homebuyers accounted for a record number of GSE purchase loans in 2023, while originations sunk to new lows, according to ICE’s latest Mortgage Monitor. They made up 55% of agency purchases last year, the highest share ever recorded by ICE in the ten years it has been tracking this metric. “The market in which…
Delinquencies rose in November but remain historically low despite some worrying data about FHA and VA loans. That’s according to ICE’s First Look at November Mortgage Performance, which clocked delinquencies at 3.39% last month. This is down 10 bps YOY and remains 64 bps below pre-pandemic levels. Serious delinquencies– loans with missed payments more than…
Serious mortgage delinquencies fell to their lowest point since 1999 in August, but financial pressures could force them up in the future. In August, 2.6% of all U.S. mortgages were in some stage of delinquency, down 0.2% YOY and 0.1% from July 2023, according to CoreLogic’s latest Loan Performance Insights Report. Early-stage delinquencies and adverse…
Lender Toolkit partnered with income analysis provider Blueprint to launch Prism, an AI-driven income calculator. Prism, which integrates with Encompass by ICE Mortgage Technology, shortens cycle times and increases profitability by streamlining the income process, according to company leaders. Blueprint creates advisories that are automatically uploaded to Prism as loan conditions. If income is used…
End of content
End of content
Before You Go, Get the Latest News and UPDATES!
Stay Tuned!