By ERIN FLYNN JAY There has been an uptick in foreclosure activity this year but industry professionals say the impact on the national housing market will be manageable moving into 2025. Marina Walsh, vice president of industry analysis at the Mortgage Bankers Association, recently told The Mortgage Note that delinquencies increased across all product types….
By ERIN FLYNN JAY Delinquencies are up as Americans feel the pain of continued inflation and other stresses on the economy. The delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted rate of 3.97% at the end of the second quarter, according to the Mortgage Bankers Association’s National Delinquency Survey….
The first quarter of 2024 brought a significant profitability upswing for independent mortgage banks as production losses simmered down from previous quarters. According to data from the Mortgage Bankers Association, IMBs and mortgage subsidiaries of chartered banks experienced a significant decrease in pretax net loss per loan in Q1 compared to the previous quarter. The…
By KIMBERLEY HAAS Distressed homeowners who get behind on their mortgage bills are avoiding foreclosure. The Mortgage Bankers Association’s National Delinquency Survey was released last week and it showed that delinquencies increased in the third quarter to a rate of 3.62%, up 25 basis points from the second quarter and 17 basis points from a…
By KIMBERLEY HAAS The Mortgage Bankers Association’s chief economist and his team had some good news for those in attendance of their annual convention and expo on Sunday afternoon. Total mortgage origination volume is expected to be $1.95 trillion in 2024, up from the $1.64 trillion projected for 2023. At the same time, volume is…
Delinquencies across the nation rose in February to 3.45% as economic pressures squeeze Americans, but remain down from last year, Black Knight reported. Black Knight’s First Look at February 2023 data found that delinquent loans that are only a single payment behind overwhelmingly accounted for the increase. The 36,000 delinquency rise was driven by a…
The delinquency rate nationwide dropped to 2.80% in April, as overall delinquencies fell almost 40% YOY, according to Black Knight’s “first look” at its April 2022 month-end mortgage performance stats. The numbers reflect the mortgage market’s continued recovery from pandemic impacts. Prepayment activity dropped 19.1% from March and is down 61.8% YOY due to rapidly…
Early April exits offset two weeks of rising forbearance starts and re-starts, resulting in plan volumes dropping below 700,000 for the first time since the pandemic began, according to Black Knight’s blog, Vision. Overall, forbearances fell by 63,200 plans last week. GSE plans fell by 24,500 (-11%), followed by FHA/VA (-21,800, -8.1%) and loans held…
Forbearances rose slightly again as late-month new plans and restarts offset early-month exits, according to Black Knight’s blog, Vision. Overall, forbearances rose by 3,700. Forborne loans held by portfolios and PSLs increased by 5,300 (2.1%). FHA/VA loans remained unchanged, while GSE plans fell by 1,800 (0.8%). New plan starts dropped to 10,100, the lowest level…
Independent mortgage banks (IMBs) and mortgage subsidiaries of chartered banks made $1,099 on each originated loan in Q4 2021, dropping from Q3’s $2,594, according to the Mortgage Bankers Association’s (MBA) Quarterly Mortgage Bankers Performance Report. More than three-fourths (76%) of firms analyzed made a net profit in Q4, especially firms with servicing operations. Those benefited…
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