This week, MBA Research released second quarter of 2022 results of its National Delinquency Survey (NDS). The delinquency rate for mortgage loans on one-to-four-unit residential properties was 3.64 percent – the lowest level since MBA’s survey began in 1979 and down 47 basis points from first-quarter 2022 and 183 basis points from the […]
USREOP Updates
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The national median mortgage payment was $1,893 in June, according to the latest Purchase Applications Payment Index (PAPI) release. While it held steady over the second quarter of 2022 (from $1,889 and $1,897 in April and May), it was up 9.1% from the end of the first quarter, and $510 (36.9%) […]
According to MBA’s Monthly Loan Monitoring Survey, the share of loans in forbearance dropped slightly to 0.81 percent of servicers’ portfolio volume as of June 30, 2022, from 0.85 percent the prior month. Only about 404,000 homeowners are still in forbearance plans, after reaching a peak of almost 4.3 million homeowners in […]
A total of 4,195 companies reported lending activity under the Home Mortgage Disclosure Act (HMDA) in 2021, according to MBA’s own analyses of the dataset. Company types are defined by primary regulator and balance sheet assets, with large depositories holding assets of $10 billion or more. Large depositories have always […]
Interested in investing, giving and insights on the current and forecasted market conditions? Then this issue of PRTNR Magazine is for YOU! You’ll also find information on our upcoming US REO Partners Annual Client Dinner and Charity Auction in September and write-ups from our member-only monthly series, Coffee with Clients.
MBA’s annual Servicing Operations Study and Forum includes a deep-dive analysis and discussion of servicing costs, productivity, portfolio activity, and operational metrics for in‐house servicers. This week’s MBA Chart of the Week shows 2021 fully-loaded servicing costs, which include three components: direct expenses; unreimbursed foreclosure, REO and other default costs; and corporate administration costs. […]
Based on the most recent MBA forecast, mortgage originations are expected to drop to $2.4 trillion (or 6.7 million loans) in 2022 from $4.0 trillion (or 11.3 million loans) in 2021. This rapid shift in industry volume, after two years of record-setting levels not seen since 2003, has forced mortgage companies […]
This week the Research Institute for Housing America (RIHA), MBA’s think tank, released a special report, Who Will Buy the Baby Boomers’ Homes When They Leave Them?, authored by Gary Engelhardt of Syracuse University. The report examines population aging, mortality, and the future of the housing market. In 2019, there were […]
The national median mortgage payment was $1,897 in May, a slight increase from $1,889 in April and $572 higher than in May 2021, according to this week’s Purchase Applications Payment Index (PAPI) release. Payments have increased $513 (37.1%) in the first five months of the year, consistent with still-elevated loan sizes, […]
The Federal Reserve is racing to catch up to economic events, announcing a 75-basis-point increase in the federal funds rate and signaling more increases following this week’s FOMC meeting. The FOMC’s median projection for the federal funds rate now shows a year-end 2022 rate of around 3.4%, compared to the […]
Commercial and multifamily real estate – after years of strong and steady growth – is in a period of transition, driven by changes in the space, equity and debt markets. In terms of space markets, each property type is in a different place. According to the U.S. Census Bureau, vacancy […]
In March, MBA released its inaugural, monthly Purchase Applications Payment Index (PAPI) – an affordability index that measures how new fixed-rate 30-year purchase mortgage payments vary across time relative to income. The third PAPI release on May 26 – based on April MBA Weekly Applications Survey (WAS) data – gives us a […]
MBA released this week its latest Quarterly Performance Report for the first quarter of 2022. The total sample of 366 independent mortgage banks and mortgage subsidiaries of chartered banks earned an average pre-tax production profit of 5 basis points (or $223) on each loan they originated – the lowest level since the fourth quarter […]
The recent increase in the adjustable-rate mortgage (ARM) share of applications has caught the attention of market participants and the media. The ARM share has increased from 3.1 percent in the first week of January to 10.3 percent as of the week ending May 13th, peaking at 10.8 percent the […]
Housing markets are tight. Multifamily developers are responding. Developers are currently building 800,000 new homes in buildings with 5 or more units – the most since the mid-1970s – and will put-in-place $100 billion of multifamily housing construction this year, a new record. In recent months, MBA’s Chart of the Week has […]
The Mortgage Bankers Association’s (MBA) National Delinquency Survey was released this week, covering national and state delinquencies through the first quarter of 2022. The delinquency rate for mortgage loans on one‐to‐four‐unit residential properties fell to a seasonally adjusted rate of 4.11 percent of all loans outstanding at the end of the first quarter of […]
According to the inaugural 2021 Diversity, Equity and Inclusion (DEI) Study, conducted by McLagan and recommended by Mortgage Bankers Association (MBA), participating mortgage firms – both residential and commercial/multifamily – had varied policies, practices and initiatives to further racial and gender equality within their organizations. This week’s MBA Chart of the Week shows […]
Last week, MBA released its 2021 Annual Performance Report. The total sample of 273 independent mortgage banks (IMBs) and subsidiaries of banks employed an average of 554 mortgage production employees over the course of 2021. This was the highest average production employee count since the start of the report in 2008. […]
The Current Population Survey (CPS), sponsored jointly by the U.S. Census Bureau and the U.S. Bureau of Labor Statistics, includes an Annual Social and Economic Supplement (ASEC) conducted every March. The ASEC provides details on geographic mobility and migration over the last year—including information on the types of moves and […]
The release of MBA’s Commercial Real Estate/Multifamily Finance Firms – Annual Origination Rankings annual report presents a comprehensive set of listings of commercial/multifamily mortgage originators, their volumes and the different roles they play. The report presents origination volumes in more than 140 categories, including by role, by investor group, by property type, […]
On March 24, MBA released its inaugural, monthly Purchase Applications Payment Index (PAPI) – an affordability index that measures how new fixed-rate 30-year purchase mortgage payments vary across time relative to income. Every month, MBA Research will use MBA Weekly Applications Survey (WAS) payment data, together with U.S. Bureau of Labor Statistics’ […]
Inflation as measured by the Consumer Price Index (CPI) reached an annual rate of almost 8% in February. Over the past 12 months, inflation has increased steadily from less than 2% to 7.9%, compared to an average just under 2% in the five years prior. Supply chain disruptions and goods […]
House price appreciation (HPA) continued to rise rapidly in the fourth quarter of 2021. The Federal Housing Finance Agency’s (FHFA) Purchase Only House Price Index increased by 17.5% from the fourth quarter of 2020, and it grew by over 27% in Idaho, Utah, and Arizona. There have been various explanations […]
On Thursday, February 24, Russian troops invaded Ukraine in an unprovoked assault on a peaceful neighbor. Through ground, sea, and air attacks, the Russian military since then has killed countless Ukrainian citizens and kicked off a massive dislocation as more than a million Ukrainians seek refuge in neighboring countries while millions […]
This past week in Orlando, MBA held its annual Servicing Solutions Conference and Expo, attended by over 1,300 industry professionals. Among the major topics weighing on mortgage servicers were servicing technology, servicing transfers, post-forbearance workouts, customer complaints, fair servicing and regulatory compliance, and borrower communications, among others. In this week’s MBA Chart of […]
The average usage level of first-mortgage warehouse lines – the percentage of outstanding borrowings to warehouse facility limits – fell for the sixth consecutive quarter to 38% as of the end of the fourth quarter of 2021, according to MBA’s quarterly Warehouse Lending Survey. This latest result marks the lowest usage […]
Mortgage Bankers Association’s (MBA) National Delinquency Survey – covering national and state delinquencies through the fourth quarter of 2021 – was released this week. The delinquency rate for mortgage loans on one‐to‐four‐unit residential properties fell to a seasonally adjusted rate of 4.65 percent of all loans outstanding at the end of 2021. The […]
Despite the job market recovery that is still chugging along two years after the start of the pandemic, many employers still face challenges in re-hiring and filling open positions. The most recent Job Openings and Labor Turnover Survey (JOLTS) data from the U.S. Bureau of Labor Statistics (BLS) showed that […]
This week’s MBA Chart of the Week features Weekly Applications Survey data, re-indexed to January 2020, to highlight the most recent refinance and home purchase trends. With mortgage rates increasing steadily lately, refinance applications have fallen. The 30-year fixed rate averaged 3.30 percent in 2020 and 3.14 percent in 2021, including dipping […]
According to MBA’s latest Monthly Loan Monitoring Survey, the share of loans in forbearance dropped to 1.41 percent of servicers’ portfolio volume as of December 31, 2021, from 1.67 percent the prior month. MBA’s estimate is that there are now 705,000 homeowners in forbearance plans, down from the peak of almost […]
On Friday, January 7, 2022, the U.S. Department of Treasury released their latest monthly update on the allocation of funds from the Emergency Rental Assistance (ERA) program. ERA1 was established as a response to the pandemic under the Consolidated Appropriations Act of 2021 which provided $25 billion to pay past, and in […]
The pandemic has had an unparalleled effect on labor markets. With insured unemployment continuing claims climbing to (an unadjusted) 1.87 million in yesterday’s Unemployment Insurance Weekly Claims Report, it appears that the omicron variant, as of the end of 2021, has, relative to earlier in the pandemic, only modestly impacted the […]
According to MBA’s Monthly Loan Monitoring Survey, the share of loans in forbearance dropped to 1.67 percent of servicers’ portfolio volume as of November 30, 2021, after climbing to a monthly peak of 8.53 percent as of May 31, 2020. As many borrowers have moved out of forbearance and into permanent […]
Inflation is running well above target, and the job market is booming. It was no surprise that the Federal Reserve’s FOMC statement released on Wednesday announced an acceleration of their tapering of Treasury and MBS purchases, and signaled that the first rate hike will be coming sooner rather than later. Moreover, the median […]
This week the Research Institute for Housing America (RIHA), MBA’s think tank, released updated results that allow us to assess how renters and homeowners fared over the first year-and-a-half of the pandemic. The updated analysis of the Understanding America Study (UAS) panel survey data, conducted by Gary Engelhardt of Syracuse University, and […]
This week the Research Institute for Housing America (RIHA), MBA’s think tank, released a special report, The Distribution of Wealth in America Since 2016. The report, authored by ex-FHA Commissioner and HUD and OMB chief economist Dr. John Weicher, currently at the Hudson Institute, uses the two latest waves of the Federal […]
The US housing stock is full. Each quarter the U.S. Census Bureau reports vacancy rates for homeownership and rental properties. Homeownership units are defined as those that are owner-occupied or are year-round units either sold and awaiting occupancy or currently for sale. Rental units are renter-occupied, or year-round units either […]
The delinquency rate for mortgage loans on one‐to‐four‐unit residential properties fell to a seasonally adjusted rate of 4.88 percent of all loans outstanding at the end of the third quarter of 2021. The delinquency rate was down 59 basis points from the previous quarter, and was 277 points lower than […]
The Employment Situation Report for October brought strong results for the overall job market: 531,000 jobs were added over the month across most sectors of the economy and the unemployment rate decreased further to 4.6%. Notably for the housing market, there was also a boost to construction employment. Out of […]
On Tuesday, the Federal Housing Finance Agency (FHFA) released its August 2021 House Price Index. The purchase-only index, that tracks changes in transaction prices for conforming, conventional single-family purchase mortgages, showed that nominal seasonally adjusted house prices had appreciated by 18.5% from August 2020 to August 2021. However, the latest report […]
Sometimes research is like putting a puzzle together – trying to fit one piece of information with another to create a full picture of what’s happening. This week, we are adding a new, final piece to the puzzle of how much commercial real estate lending happens each year. Each spring […]
The U.S. Bureau of Labor Statistics’ Job Openings and Labor Turnover Survey (JOLTS) data for August continues to show that many employers are running into difficulty re-hiring and filling open positions. While retreating from (a series high of) over 11 million in July 2021, openings remained over 10.4 million in […]
This morning’s Employment Situation Summary from the U.S. Bureau of Labor Statistics indicated that job growth remained lackluster in September following similarly disappointing gains in August. Overall, the economy added 194,000 jobs in September, the weakest month thus far in 2021, but there were upward revisions to the previous two months’ totals. […]
Last week the Research Institute for Housing America (RIHA), MBA’s think tank, released a special report, The Impact of Climate Change on Housing and Housing Finance. The report, authored by Sean Becketti, reviews what we know so far about climate change; the likely impacts to housing and housing finance; strategies that can mitigate […]
Under the Ability-to-Repay/Qualified Mortgage (ATR/QM) rule, loans that meet the rule’s requirements for QMs obtain certain protections from liability. In December 2020, the Consumer Financial Protection Bureau (CFPB) revised the rule implementing the ATR (with an additional delay announced in April 2021) so that a first-lien loan meets the General […]
Commercial and multifamily property prices are the product of two things: a) the net operating income (NOI) a property produces and/or is expected to produce and b) the multiple of that income (the capitalization or “cap” rate) investors are willing to pay in order to own that income stream. Thus, Property […]
Home price appreciation continued to accelerate in the second quarter of 2021, driven by robust housing demand, which continues to outpace the supply of homes for sale. Some prospective home buyers have taken out larger loans, while others, such as first-time homebuyers or those looking for less expensive homes, have […]
Independent mortgage banks and mortgage subsidiaries of chartered banks reported a net gain of 73 basis points in the second quarter of 2021, down from a reported gain of 124 basis points in the first quarter of 2021, according to this week’s release of MBA’s latest Quarterly Mortgage Bankers Performance Report. The purchase […]
The delinquency rate for mortgage loans on one‐to‐four‐unit residential properties fell to a seasonally adjusted rate of 5.47 percent of all loans outstanding at the end of the second quarter of 2021. The delinquency rate was down 91 basis points from this year’s first quarter, and was 275 points lower […]
Last week the Research Institute for Housing America (RIHA), MBA’s think tank, released updated second-quarter 2021 results that allow us to assess how renters, mortgagors and student loan borrowers fared over the first 15 months of the pandemic. The updated analysis of the Understanding America Study (UAS) panel survey data, […]
According to MBA’s Weekly Forbearance and Call Volume Survey, the share of loans in forbearance dropped to 3.47 percent of servicers’ portfolio volume as of July 25, 2021, from a peak of 8.55 percent as of June 7, 2020. While the number of borrowers exiting forbearance has fluctuated from one month […]
A total of 4,309 companies reported lending activity under the Home Mortgage Disclosure Act (HMDA) in 2020, according to MBA’s own analyses of the dataset. Company types are defined by regulator and assets, as follows: Large depositories are regulated by the OCC, FRS, FDIC, or CFPB and hold more than […]
In 2020, net production profit in the retail production channel (which excludes third party and consumer direct originations) averaged $5,351 per loan based on a cross-section of 91 lenders, including mid-size and large banks and independent mortgage companies. To a large extent, this net profit was driven by production revenues, […]
Federal Reserve Chair Jay Powell testified before Congress this week and received several questions regarding recent inflation trends, with overall CPI inflation increasing 5.4 percent in June 2021 compared to a year ago. This followed readings of 4.2 percent in April and 5.0 percent in May. The headline inflation number […]
When looking at commercial and multifamily mortgage delinquency rates, we tend to exclude loans that have been delinquent for less than 30 days, as many may be experiencing a temporary “hiccup” that will be quickly remedied before the next payment is due. But examining these rates can provide key insights […]
Even with the recent burst in economic activity and hiring, as almost two-thirds of the U.S. adults have received at least one COVID vaccination, the unemployment rate and overall payroll levels have not returned to pre-pandemic levels of job market health. While job openings have soared as businesses reopen, many […]
The release last Friday of the Biden Administration’s proposed Fiscal Year 2022 Budget put down in black and white – and dollars and cents – many suggestions that have been made in more general terms in the Administration’s American Jobs and Family Plans, during the most recent presidential campaigns and […]
MBA Research recently wrapped up its annual Servicing Operations Study, a deep dive analysis of servicing costs, productivity, portfolio activity and operational metrics for in-house servicers. In this week’s chart, we show 2020 direct servicing costs allocated by functional area. After four consecutive years of decline, total direct servicing costs reached […]
This week’s chart shows the historical retail Loan Officer (LO) turnover rates (%) for depository banks and independent mortgage companies, based on data collected through the MBA and STRATMOR Peer Group Roundtable Program, now in its 23rd year of production. From 2002 to 2020, the LO turnover rate averaged 38%, […]
On Wednesday, May 5, 2021, U.S. District Court Judge Dabney Friedrich issued an order vacating the U.S. Centers for Disease Control and Prevention’s (CDC) national eviction moratorium, but also put a temporary pause on the order, meaning that (as of this writing) the CDC moratorium, which is scheduled to expire […]
This week the Research Institute for Housing America (RIHA), MBA’s think tank, released updated first-quarter 2021 results that allow us to assess how renters, mortgagors and student loan borrowers fared over the first 12 months of the COVID-19 pandemic. The updated analysis of the Understanding America Study (UAS) panel survey data, conducted […]
The pace of economic growth, as measured by gross domestic product (GDP) in the first quarter of 2021, picked up to a 6.4 percent annualized rate – the biggest first-quarter increase since 1984. We expect that pace to accelerate further over the next 6 months, as households unleash the pent-up […]
This week’s MBA Chart of the Week examines the year-over-year growth in purchase loan applications by loan size since 2018. The high and increasing growth trends in applications for larger loans (over $625,000) that became pronounced in 2019 continued in the second half of 2020 (following the V-shaped COVID dip). While the […]
This week’s MBA Chart of the Week focuses on newly built homes, as measured by new home sales and single-family housing starts. As indicated in our monthly Builder Applications Survey (BAS) release, MBA’s estimate of new home sales declined by more than 4 percent in March 2021 to a seasonally adjusted annual […]
This week’s chart summarizes the recent strength of the job market. According to the Bureau of Labor Statistics (BLS), job growth accelerated sharply in March, as the economy gained 916,000 jobs over the month, the largest monthly gain since August 2020. The gains were across several sectors, including both goods-producing […]
MBA released its latest Quarterly Performance Report for the fourth quarter of 2020 earlier this week. The total sample of 366 independent mortgage banks and mortgage subsidiaries of chartered banks earned an average pre-tax production profit of 137 basis points (or $3,738) on each loan they originated, declining from a record-high 203 basis points […]
This week’s MBA Chart of the Week captures the share of mortgage applications to purchase or refinance a second home or investment property. In February 2021, 10.1 percent of all applications in the retail and consumer direct channels were for a non-primary residence. This was an increase from 9.5 percent the previous […]
The rate of US home-price appreciation continues to be driven higher by a combination of strong demand for housing and record-low housing inventory for sale. The FHFA’s most recent release showed that the fourth quarter of 2020 saw annual home-price growth of 10.9 percent – the strongest annual change on […]
In recent weeks, markets are increasingly predicting that inflation and real economic growth will pick up rapidly worldwide as the COVID-19 vaccine continues to be rolled out, and that the central banks are being too pessimistic in their views on monetary policy accommodation and may have to reverse course abruptly. […]
MBA yesterday released its National Delinquency Survey results for the fourth quarter of 2020. The delinquency rate for mortgage loans on one-to-four-unit residential properties at the end of the quarter decreased from a seasonally adjusted rate of 7.65 percent of all loans outstanding in the third quarter to 6.73 percent in the fourth […]
This week’s MBA Chart of the Week chart provides a preview of newly updated pandemic-related household financial insights that MBA’s Research Institute for Housing America (RIHA) will release this coming Monday, February 8, 2021. RIHA analysis of the Understanding America Study (UAS) data, conducted by Gary Engelhardt of Syracuse University […]
Homeowners’ equity in housing was at a record high of $20.4 trillion in the third quarter of 2020. The steady upward trend since 2012 was spurred by accelerating home-price growth and low mortgage rates, which have helped many households build equity in their homes. The third quarter’s year-over-year increase in […]
Lenders tightened mortgage credit in the first half of 2020, as the onset of the COVID-19 pandemic caused the economy to suffer its sharpest single-quarter contraction in history. Mortgage credit availability, as measured by our series of indexes, has recovered slightly in recent months. However, availability is still close to its […]
The American Housing Survey (AHS) is a national longitudinal survey that provides information on the size, quality, composition, and cost of housing. It is sponsored by the U.S. Department of Housing and Urban Development (HUD) and conducted every odd-numbered year by the U.S Census Bureau. Data for 2019 were released […]
The COVID-19 pandemic continued to impact the labor market to close 2020. Today’s release from the U.S. Bureau of Labor Statistics showed that faster layoffs led to a loss of 140,000 jobs in December and kept the headline unemployment rate (U-3) at 6.7 percent. Total employment remains 6.5 percent below […]
One way to gauge potential commercial mortgage-backed securities (CMBS) issuance volume is by looking at the spreads investors are willing to pay for bonds. Based on current new-issue spreads, 2021 could line-up to be a strong year. The spreads investors demand to invest in CMBS are a measure of capital supply. […]
Source: U.S. Bureau of Labor Statistics (BLS) Over the past three months, the pace of job gains has slowed from the rapid recovery seen over the summer. Similarly, the unemployment rate continues to decline, but at a more gradual pace. While the improvement has been positive, neither measure is back […]
MBA released its latest Quarterly Performance Report for the third quarter of 2020 earlier this week. Independent mortgage banks and mortgage subsidiaries of chartered banks reported study-high average pre-tax production profits of 203 basis points ($5,535 on each loan originated) in the third quarter, up from 167 basis points ($4,548 per loan) in the […]
MBA released its National Delinquency Survey results for the third quarter of 2020 last week. The delinquency rate for mortgage loans on one-to-four-unit residential properties at the end of the quarter decreased 57 basis points to a seasonally adjusted rate of 7.65 percent of all loans outstanding. The decrease in the mortgage delinquency rate […]
According to the latest edition of MBA’s Weekly Forbearance and Call Volume Survey, the share of loans in forbearance dropped to 5.67 percent of servicers’ portfolio volume as of November 1, 2020 – well below its peak of 8.55 percent as of June 7, 2020. With this declining forbearance rate, the […]
Commercial and multifamily mortgage origination volumes tend to move nearly in lockstep with property sales activity. With the onset of the COVID-19 pandemic, both tumbled, but with some important caveats. The COVID-19 recession is affecting different commercial property types in very different ways. Retail and lodging properties have felt the […]
Economic growth rebounded 33.1 percent in the third quarter of 2020, with multiple segments of the economy – after a sharp 31.4% plunge in the second quarter – showing strong growth. Expressed as an annual rate, consumer spending on durable goods was up more than 80%, business spending on equipment […]
This week’s MBA Chart of the Week chart provides fresh third quarter 2020 insights on the Research Institute for Housing America’s (RIHA) special report released in September that highlighted household financial distress during the second quarter—the first three months of the pandemic. The study, authored by Gary Engelhardt of Syracuse University and […]
One of the most striking aspects of the pandemic’s impact on commercial real estate markets is the markedly disparate impact it is having on different property types. Looking at rent collections, mortgage originations or loan performance, retail and hotel properties – the property types most immediately and dramatically affected by […]
This week’s MBA Chart of the Week highlights the year-over-year growth in purchase applications broken down by loan size tiers from 2018 to 2020. The onset of the COVID-19 pandemic caused a sharp drop in purchase activity in April and May, but there has been a sharp rebound in borrower […]
According to the latest edition of MBA’s Weekly Forbearance and Call Volume Survey, released this week, the share of loans in forbearance dropped to 6.87 percent of servicers’ portfolio volume as of September 20, 2020. The share was the lowest point since mid-April, and 168 basis points below a peak of 8.55 […]
On September 17, the Research Institute for Housing America (RIHA), MBA’s think tank, released a special report on housing-related financial distress during the second quarter – the first three months of the pandemic in the U.S. Gary Engelhardt of Syracuse University and Mike Eriksen of the University of Cincinnati, used a new […]
When real estate professionals discuss the impacts of the COVID-19 pandemic on commercial real estate, their comments generally come in one of four themes: Countercyclical – that properties, such as industrial, may actually benefit from the changes coming about; Speedbump – that properties, such as multifamily, may be temporarily affected […]
The onset of the COVID-19 pandemic, and subsequent business closures that occurred in the months following, resulted in a rapid rise in commercial Chapter 11 bankruptcies, as some businesses were not able to reopen – or reopen at sufficient capacity to survive. There were 528 bankruptcy filings in February 2020, […]
MBA earlier this week released its latest Quarterly Performance Report for the second quarter of 2020. The second quarter report showed a record-high average for net production profit of 167 bps ($4,548 per loan), as well as record-high average origination volume of $1.02 billion per company. In recognition of the upcoming Labor Day holiday, […]
As the U.S. economy works its way through the current pandemic and recession, housing has been a clear bright spot in an otherwise dire time. This week’s chart highlights the “V” shaped recovery exhibited by various measures of housing health. The boost to the purchase market has come not only […]
MBA released its National Delinquency Survey results for the second quarter of 2020 earlier this week. The key findings revealed that the COVID‐19 pandemic’s effects on some homeowners’ ability to make their mortgage payments could not be more apparent. Mortgage delinquencies spiked 386 basis points from the first quarter to […]
In MBA’s newly released Home Equity Lending Study on lending and servicing of open-ended home equity lines of credit (HELOCs) and closed-end home equity loans (HE Loans), operational metrics such as turn times are tracked to understand efficiencies relative to peers and other credit products. In this week’s chart, we compare the […]
This week’s chart shows the course of the share of loans in forbearance by investor type over the past three months – from the earliest stages of the COVID-19 pandemic to the most recent reporting. According to MBA’s Weekly Forbearance and Call Volume Survey, the share of loans in forbearance grew […]
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey said loans now in forbearance increased just slightly, to 8.55% of servicers’ portfolio volume as of June 7 compared to 8.53% the prior week. MBA now estimates 4.3 million homeowners are in forbearance plans. The movement in the share of loans in […]
WASHINGTON – This week, the U.S. Department of Housing and Urban Development (HUD) marks the beginning of Homeownership Month 2020 – a time of year when HUD, the Federal Housing Administration (FHA) and others recognize the importance of homeownership and its impact upon the lives of American families, local neighborhoods, […]
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey showed mortgage loans now in forbearance increased to 8.16% of servicers’ portfolio volume in as of May 10, up from 7.91% the previous week. MBA now estimates 4.1 million homeowners are in forbearance plans. The report said mortgages backed by Ginnie Mae […]
The Mortgage Bankers Association’s latest Forbearance and Call Volume Survey reported loans now in forbearance increased from 7.54% of servicers’ portfolio volume in the prior week to 7.91% as of May 3. MBA now estimates 4 million homeowners are now in forbearance plans. Mortgages backed by Ginnie Mae again saw the largest […]
Source: MBA Forbearance and Call Volume Survey. New survey findings released by MBA this week highlight the unprecedented, widespread mortgage forbearance already requested by borrowers affected by the spread of the coronavirus (COVID-19). According to MBA’s Forbearance and Call Volume Survey, the total number of loans in forbearance grew from 0.25% […]
Our hearts go out to all those impacted by COVID-19—this includes not only those diagnosed with the virus, but also their friends and family, those whose jobs and schools have been impacted and so many more. Our focus is, as always, on the health and safety of our communities.There is […]
In 2019, most of the country experienced a combined decrease in homelessness, however significant increases in unsheltered and chronic homelessness on the West Coast, particularly in California and Oregon, offset those nationwide decreases, causing an overall increase in homelessness of 2.7 percent. HUD’s 2019 Annual Homeless Assessment Report to Congress found that […]
Thank you, Mr. Ed Laine, Hometown Advisor Real Estate, for another great update. It’s a white-hot market!
Great article….good points regarding off-site construction… The Key to Addressing Home Supply Issues
The 2017 cap hit high-price home markets like California and New Jersey A day after impeaching President Donald Trump, the House of Representatives was back in session debating and passing a bill to eliminate the federal cap on property tax deductions. The bill, HR 5377, passed Thursday by a 227 to 196 vote. […]
US REO Partners Board of Directors want to take a moment to thank our members and clients for their support this year. It is in this spirit that we wish you and your family peace, joy, holiday blessings and a prosperous 2020. From our family to yours, US REO Partners
Some organizations now believe the process could be the answer to ramping up affordable housing across the globe. And it could do so quickly—you can print a home in just 24 hours. Icon, a construction tech startup in Austin, and a housing nonprofit called New Story unveiled its first two […]
Los Angeles’ median price was $550,000, up 7.4% from a year earlier- Los Angeles beat San Francisco in November as the hottest real estate market in the nation’s most populous state, according to a report by the California Association of Realtors. The median price of a single-family home in the […]
These ten markets are expected to outperform between now and 2025 On the whole, the nation’s housing prices continued to rise throughout this year and are expected to continue to do so into the foreseeable future. But, according to the National Association of Realtors, there are a handful of markets that are expected to rise […]
FHA Commissioner Shares Achievements and Priorities With Housing Subcommittee Testifying today before the Housing, Community Development and Insurance Subcommittee in the U.S. House of Representatives, Federal Housing Administration Commissioner Brian Montgomery said FHA has made “tremendous strides” in improving the financial performance of its insurance programs, mitigating risks within its […]
Spud Webb slam dunk champion brought his star power to the US REO Partners annual charity dinner and auction benefiting St. Jude Children’s Research Hospital®. More than $70,000 was raised during the event, which was held at Truluck’s Seafood, Steak, and Crab House in Dallas to coincide with the 2019 […]
Thank you, Members and Clients, for making the training session such a success! It was standing room only…
On Sunday afternoon, September 22, from 1:00-3:00 PM, at the Dallas Marriott, US REO Partners is hosting an education session. Our headline speaker will be Ms. Arleas Upton Kea, COO, and Director of the FDIC, who will be speaking on “Doing Business with the Government.” Along with Ms. Upton Kea, […]
Welcome to the next issue of US REO Partners PRTNR Magazine. In this issue, you will find our newest broker members, some of our members’ achievements and awards, and how our association is evolving with the industry. US REO Partners members have had boots on the ground at industry events […]
Congratulations, Molly Merchant, on your recent promotion to Senior Director of REO Asset Management. LRES Corporation, a national residential and commercial mortgage services company providing valuations, REO asset management, and HOA solutions for the mortgage and real estate industry, announced the promotion of Molly Merchant to Senior Director of REO […]
Which would you rather have: A strong market or a steady market? What if you could have both? Learn what part of the market has more than DOUBLED since last year.
Having been with US REO Partners for the past 10 years, I have had the privilege and honor of being among the best REO real estate agents across the United States. The unbelievable networking has given me the opportunity not only to increase my business, but enabled me to make […]
USREOP held a networking luncheon at the Salt Lake City Grand America Hotel prior to the start of the Green River Symposium on March 13. More than 30 members and clients were in attendance for this afternoon of sharing market conditions and client updates. New connections were made, strengthening our […]
It was an exciting week in Orlando, Florida, at the MBA Conference, February 24-28. There were over 1800 lenders, servicers, investors, and attorneys attending the conference at the Orlando Hyatt. Mary Best Brill met three investor clients who have rising inventories and want to meet to discuss US REO Partners […]
It’s been an interesting year in Real Estate, to say the least. The challenges are many as we try to anticipate the market, and what the clients need to know, especially as it pertains to the “repair, rehab or sell as is" question. This issue contains pieces written by some […]
Source: Bureau of Labor Statistics Our chart this week features unemployment rates by educational attainment, as of the July 2018 Employment Situation report. Over the past 12 months, the unemployment rate for workers with less than a high school diploma decreased from 7.0 percent to 5.1 percent, a substantial drop. […]
Attached is “GA HB 410” is the Georgia bill passed by the state legislature that sought to cap HOA payoff letter fees and provide a time frame for production of payoff letters. In Georgia, many HOAs are managed by management companies as opposed to resident volunteers, and the management companies charge […]
Good Tax News for Business Owners I have some great news today for those of you who are business owners or otherwise self-employed. In the past, you needed to provide two years’ worth of tax returns averaging $100,000 in income to qualify for a mortgage. Those requirements have recently changed. […]