This topic consolidates the heartbeat of today's mortgage banking environment with news stories relevant to the financial compliance industry.
MBA Newslink--Bill Killmer; Pete Mills
This week’s update includes information on FHA mandatory flood insurance requirements, withdrawal of the mandatory use date for its FHA Catalyst EAD Module, and MBA participation in a follow-up White House Meeting on Tenant Protections.
The monthly report of new residential home sales for October 2022 was issued by HUD and the US Census Bureau.
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regulatory changes & updates from Fannie,
Freddie, FHA, VA, and USDA.
In a November 21, 2022 press release, Fannie Mae's Economic and Strategic Research (ESR) Group forecasts that economic growth will decline through the end of Q4 2022 and continue into a modest recession through Q2 2023 before rebounding.
MBA Newslink--Caitlin Groves
MISMO® announced an updated version of its eModification Reference Flyer, an industry resource designed to help servicers and other mortgage organizations easily navigate the investor requirements for electronically-signed loan modification agreements (eModifications).
Fannie Mae has released an outlook for 2024 as we near the end of 2022 and is predicting a downturn of 0.6% in 2023 with some improvement moving into 2024.
Housingwire--Flávia Furlan Nunes
The third quarter is typically the strongest of the year for independent mortgage banks and subsidiaries of chartered banks, until this year where origination costs exceeded $11,000 per loan for the first time, despite a reduction of 19% year over year of total employees per firm, contributing to the lowest level since 2008.
MBA Newslink--Bill Killmer; Pete Mills
This weeks update includes information on FHA MIP reduction, payday lending, the Middle Class Mortgage Insurance Premium Act of 2022, GSE single-family guarantee fees and more.
DS News--Eric C. Peck
At the 27th U.N. Climate Conference, HUD addressed the implementation of their climate action plan, including improving efficient and resilient building standards to help low-and-moderate income residents benefit from the transition to clean energy.
MBA Newslink--Bill Killmer; Pete Mills
This week’s update includes information on the FHFA 2023 Multifamily Loan Purchase Caps for Fannie Mae and Freddie Mac, MBA Participates in White House Meeting on Tenant Protections and the MBA Closely Monitoring NMLS Renewal Process; Remains Engaged with CSBS.
Mortgage Professional America – Candyd Mendoza
According to the Freddie Mac Mortgage Market Survey the 30-year fixed-rate mortgage reaches a record high of 7.08 percent.
DS News--Eric C. Peck
Ginnie Mae’s mortgage-backed securities portfolio outstanding grew to $2.3 trillion last month, boosted by $37 billion of total MBS issuance, leading to $23 billion of net growth reflecting the agency's role in supporting first time homebuyers.
DS News - Kyle G. Horst
According to ATTOM Data’s Foreclosure Market’s most recent report, foreclosure activity was up nearly 60 percent in October 2022.
DS News--Kyle G. Horst
According to a report from Black Knight, the number of underwater homeowners has climbed nearly 275,000 over the past four months while on a national scale, just 3.6% of borrowers are underwater or have less than 10% equity and just 0.84% are considered to be in a negative equity positions.
DS News - Kyle G. Horst
Bankruptcy filings across the U.S increased in October, according to bankruptcy data from Epiq.
