Overall mortgage performance was on the upswing in the first quarter of 2023, as the OCC reported banks serviced approximately 12 million first-lien residential mortgage loans with $2.7 trillion in unpaid principal balances—representing 22% of all residential mortgage debt outstanding nationwide.
Read More »HUD Makes $75M Available to Tribal Communities for Community Development
“Investing in our Tribal communities is essential. HUD is committed to ensure support, so these communities have access to essential resources.” said HUD Secretary Marcia L. Fudge. “The purpose of these grants is to create more equitable outcomes for Tribal residents.”
Read More »GSE REO Inventory on the Rise in Q1
In addition, a new report notes that Fannie Mae and Freddie Mac completed 58,268 foreclosure prevention actions in Q1 2023. Click through to read the other data from the GSEs’ Q1 2023 Foreclosure Prevention and Refinance Report.
Read More »Insuring the American Homeowner in 2023
A new report from Insurify projects that home insurance premiums are expected to rise 9% in 2023, led by issues with the nation's supply chain and climate change.
Read More »Gearing Up for the Next REO Boom
An upcoming webinar presented by the Five Star Institute and the National REO Brokers Association will examine how prepared the REO industry truly is for a bump in activity, and how to brace your business for a jump in volume.
Read More »Nearly 3% of all U.S. Mortgages Delinquent
CoreLogic reports that U.S. loan performance remains resilient, with delinquencies and foreclosures lingering near record lows, and the national overall delinquency rate increasing slightly from March to April.
Read More »PMI Assists One Million-Plus in the Purchase or Refi Homes in 2022
A new study from USMI has found that in 2022, Texas, Florida, California, Illinois, and Ohio ranked as the top states for mortgage financing with private mortgage insurance.
Read More »Serious Delinquencies Continue to Improve in May
Black Knight reports that during the month of May, past-due mortgages approached recent record lows as the number of borrowers a single payment past due improved by 94,000.
Read More »Mid-June Thunderstorms Bring $8.7B in Property Damage Nationwide
CoreLogic estimates recent thunderstorm activity brought strong straight-line winds and tornadoes, causing substantial damage to property across the U.S., with areas reporting wind speeds in excess of 100 miles per hour and hail greater than four inches in diameter.
Read More »Critical Defect Rate Falls to Under 2%
“After last quarter’s historic high of 2.47%, the reduction in Q4’s critical defect rate to a sub-2% level is encouraging and illustrates just how much the precipitous drop in origination volumes impacted lending operations,” said ACES EVP Nick Volpe.
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