Intercontinental Exchange

Serious Delinquencies Fell To Lowest Point Since 1999

Posted on by TMN Editor
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 delinquencies both increased a modest 0.1% from August 2022, but serious delinquencies declined (-0.3%) to their lowest level in nearly 25 years. Overall, mortgage delinquencies remain near historic lows. CoreLogic’s data reflects the stability of homeowners swimming in record-high equity. After slipping through the end of 2022, home prices shot up once again in mid-2023, giving homeowners unprecedented financial security. With competition for well-priced homes…

Congresswoman Expresses Concerns About ICE-Black Knight Merger

Posted on by TMN Editor
By KIMBERLEY HAAS As officials at the Federal Trade Commission continue to review the proposed acquisition of Black Knight by Intercontinental Exchange, the top Democrat on the House Financial Services Committee is reiterating her concerns about the merger. U.S. Rep. Maxine Waters (D-CA) has said the two companies play a dominant role in the technology and data underlying the country’s mortgage markets and “such a monopoly would harm our nation’s consumers and our housing market.” This week, Waters sent a letter to FTC Chair Lina Khan offering recommendations for a negotiated settlement agreement, saying there are anti-trust, financial stability, and consumer protection safeguard issues to be considered. “In addition to potentially creating a housing finance conglomerate that would dwarf all…