Post-2022 loans drive 43% of foreclosure starts; act early
Loans originated in 2022 or later accounted for 43% of September's foreclosure starts and 49% of completed sales, according to the ICE's first look report.
Colin McNamara
Reporter
FICO holds price for commitments as Pulte plans more action
FICO announced it will maintain its mortgage industry price for credit scores through tri-merge resellers at $10 for members of its Preferred Program.
Rocket, United Wholesale Mortgage add new members to c-suite
NEXA Lending also welcomed Andrew Deyo as leader of its Business Development Marketing program, and Flyhomes added three members to its leadership team.
How Chase, BofA, Wells are luring borrowers in a 7% market
Chase Home Lending announced a limited-time rate sale, while Citizens Bank and Bank of America are focused on building up affordability programs.
Renovation financing opportunities await lenders, survey finds
With 55% of homeowners planning to renovate rather than relocate, demand for home improvement capital will be strong even if the purchase market slows further.
Atlas deal signals shift to live GSE disaster monitoring
Atlas VMS acquired CloseClear.ai to help lenders prevent post-appraisal GSE buybacks. The tech continuously matches active pipelines against live disaster maps to plug closing blind spots.
Ginnie Mae approves BSI Financial as eIssuer, eSubservicer
The approvals expand BSI's ability to support Ginnie Mae-backed digital mortgage assets across securitization and servicing, the company said.
Remodel financing gap signals opportunity for lenders
The National Association of Home Builders Remodeling Market Index for the second quarter posted a reading of 61, a one-point decline from the first quarter.
Delinquencies rose in May, but don’t panic, ICE says
The national delinquency rate rose 15 basis points to 3.5% last month due to a calendar anomaly, marking a 4.5% month-over-month incline and 9.4% annual change.
Foreclosure filings up 18% from a year ago
Foreclosure filings were reported on 42,430 properties in the United States last month, down 8% from the month prior but up 18% from a year ago.
Mortgage credit availability drops for first time this year
The Mortgage Bankers Association's Mortgage Credit Availability Index declined 0.4% to 107.9 in April after reaching a three-year high in March.
Iran conflict sours real estate investor sentiment to 3-year low
The percentage of investors who view the market as better than it was a year ago fell to 36% from 45% in the winter, according to a spring survey.
Lock-in effect drives home renovation boom, Redfin says
About 43% of Americans upgraded their homes last year, and 33% plan to remodel in the next year, according to a recent survey from Redfin.
Gen Z, millennial homeowners struggle with mortgage payments
Half of Gen Z homeowners and 44% of millennial homeowners were at risk of missing at least one mortgage payment over the last two years, ServiceLink found.
Mortgage rates hit a 7-month high, as buyers retreat
The 30-year fixed rate climbed to 6.46% this week, its highest mark since September, as mortgage applications fell 10.4% and sellers outnumber buyers by a record 46%.
Seriously delinquent loans hit highest level since 2022
The national delinquency rate ticked up seven basis points to 3.72% last month, coupled with a 10-basis-point increase in prepayment speed, according to ICE.
PE firm buys mortgage tech company formerly known as Voxtur
Hale Capital Management purchased Voxtur Analytics after a tumultuous past few years that included financial struggles, and rebranded it as Apex Analytics.
Consumer debt accelerates in December, fueled by mortgages
Total consumer debt in the United States hit $18.2 trillion by the end of last year, with $12.8 trillion attributed to first mortgages, according to Equifax.
Institutional home buyers gained ground in December
Large and mega investors accounted for 5.8% of all single family-home purchases in December, up from 4.8% at the same time last year, according to Cotality.
A K-shaped split is emerging in mortgage delinquencies
Borrowers in the lowest-income areas have seen their 90 or more day delinquency rates soar since 2021, jumping from 0.5% to nearly 3%, the New York Fed said.
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