Consumer credit is broadly stable but historically low mortgage delinquencies could drift upward in the coming year, according to Transunion’s latest forecast. The average mortgage delinquency rate that ended 2024 at 1.39% and is on track to reach 1.54% by the end of this year may be 1.65% by the time 2026 is over. Other […]
Mortgages delinquencies may inch up amid affordability pressures Read More »
A court’s ruling in a closely watched case involving New York’s six-year statute of limitations puts pressure on related parties to confirm that the entity initiating a foreclosure lawsuit is a noteholder with standing. The New York Court of Appeals ruled in Article 13 LLC vs. Ponce De Leon Federal Bank that an interpretation of
Ruling reshapes foreclosure challenges in New York Read More »
When Zillow Group Inc. removed climate risk scores from its home listings last month, following a complaint from the real estate industry, many observers took to the press and social media to warn that disappearing the data doesn’t get rid of the risk. In a world assailed by extreme weather, homeowners and purchasers need to know their property’s vulnerability to
Zillow deleting home climate risk scores reveals limits of flood, fire data Read More »
Milliman has acquired Morvest Capital, expanding the global consulting and actuarial firm’s reach in a specialized corner of the housing finance market. The company is adding a mortgage servicing rights analytics and risk-management provider through the transaction. Milliman did not disclose terms in its announcement. “This acquisition accelerates our growth in the mortgage sector and
Milliman buys Morvest in deal that deepens MSR expertise Read More »
Commercial and multifamily delinquency rates increased in each of the first two quarters this year, but delivered a mixed bag in the third quarter. Greater vacancies have consistently caused delinquency rates on commercial mortgage-backed securities and multifamily loans from the government sponsored enterprises to increase since the pandemic, while other companies have benefitted from stabilizing
Vacancies fuel a rise in commercial loan delinquencies Read More »
Bank mortgage servicers dominate the top of the first ever J.D. Power U.S. Mortgage Servicer Digital Experience Study, highlighting the slower industry-wide adoption of mobile apps in this area. The bank lenders have had mobile apps in the marketplace much longer than most non-banks. Of the 17 mortgage servicers that received scores, seven of the
Bank servicers lead new J.D. Power digital app rankings Read More »
Pennymac may face prolonged “pay-to-pay” litigation after a judge rejected the company’s move to toss a borrower’s class action complaint. North Carolina homeowner Clayton Williams is suing Pennymac in federal court over the fee he was charged when he made a mortgage payment with a debit card last year. The servicer says a third-party vendor
Pennymac must face ‘pay-to-pay’ suit, judge rules Read More »
National Flood Insurance, LLC is streamlining the flood insurance process for agencies and mortgage brokers with two new platforms. Flood Quotes and the Flood Insurance Portal allow users to compare multiple quotes from carriers, purchase policies directly and manage quotes, policies and client details through a dashboard. “We developed Flood Quotes to simplify, expedite, and
National Flood Insurance launches faster quote portals Read More »
The transition toward updated credit score models at Fannie Mae and Freddie Mac, while less dramatic than a new stock offering, is a fundamental shift with widespread industry implications. These newer models, VantageScore and FICO 10T, are designed to replace the classic FICO tri-merge report currently central to many mortgage systems. Given that classic FICO
GSE credit reform: Rent data impact on pricing and LLPAs Read More »
Low mortgage rates that continued in October brought prepayment speeds to their highest share in approximately three-and-a-half years, the ICE Mortgage Technology First Look report said. The monthly prepayment rate of 1.01% was up by 36.84% over September, when it was 74 basis points, and by 19.29% as compared to October 2024’s 85 basis points.
October’s prepay speeds at highest in over three years Read More »