MBA
By Esther Cho | 05/16/2012
On a national level, delinquency rates and foreclosure starts decreased on a quarterly and yearly basis in the first quarter of 2012, with foreclosure inventory the exception, which increased slightly compared to the previous quarter, according to the Mortgage Bankers Association. The delinquency rate was 7.40 percent on a seasonally adjusted basis in the first quarter of 2012 compared to the 2011 fourth quarter rate of 7.58 percent and the year ago quarter's 8.32 percent. Foreclosure inventory, on the other hand, saw a small quarterly increase of 1 basis point after ending at 4.39 percent in the 2012 first quarter.
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By Carrie Bay | 04/10/2012
Wolters Kluwer Financial Services announced last week that Abdias Lira, a principal software architect with the company's residential lending business, has been elected to the Mortgage Bankers Association's MISMO Residential Governance Committee. Lira has been involved with MISMO since 2001 and has served as co-chair of its e-Mortgage Workgroup since 2008.
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By Esther Cho | 02/16/2012
A recent Mortgage Bankers Association (MBA) report revealed that overall, delinquencies and foreclosures are on a decline, and when gauging where the U.S. housing market stands in terms of recovery, Jay Brinkmann, MBA's chief economist, says we are about halfway to the pre-recession days. Overall, the delinquency rate for mortgage loans on one-to-four unit residential properties decreased to 7.58 percent in the fourth quarter of 2011, compared to 7.99 percent in the third.
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By Carrie Bay | 01/25/2012
The Mortgage Bankers Association (MBA) announced Wednesday the appointment of Peter J. Grace as the trade group's new VP of strategic planning and internal technology. Grace will facilitate the implementation of initiatives that involve membership engagement through a coordinated project management and leadership role. He joins MBA from HUD, where he most recently served as chief of staff for the Acting Deputy Secretary Estelle Richman.
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By Krista Franks | 01/18/2012
Freddie Mac expects a 2 percent to 5 percent increase in home sales in 2012 amid moderate economic growth over the year, according to the GSE's U.S. Economic and Housing Market Outlook for January. Approaching the year with "cautious optimism," Freddie Mac's chief economist Frank Nothaft says there are some positive signs in the job market and consumer confidence levels, and even housing is starting to raise hopes for a continuing, gradual economic recovery.
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By Carrie Bay | 12/23/2011
Unemployment and other economic difficulties have caused millions of homeowners to involuntarily default on their mortgages, but there are some borrowers who are induced to simply stop making payments because their property value has fallen and they owe more than their home is worth. According to a study commissioned by the Mortgage Bankers Association, oftentimes strategic defaulters are encouraged to walk away at the behest of so-called mavens, or prominent influencers within their social networks.
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By Krista Franks | 12/12/2011
As the year comes to a close, details of the Middle Class Tax Cut and Job Creation Act are up in the air, and a few housing industry groups are speaking out about one aspect of the act. The Mortgage Bankers Association, the National Association of Home Builders, and the National Association of Realtors together composed a letter to Congress expressing concerns over a proposal to raise Fannie Mae and Freddie Mac's guarantee fees to help cover the cost of extending the payroll tax cut.
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By Carrie Bay | 11/17/2011
The Mortgage Bankers Association (MBA) reported Thursday that the national delinquency rate for residential home loans fell to 7.99 percent in the third quarter. That's the lowest reading since the fourth quarter of 2008. The delinquency rate encompasses borrowers who have missed one or more payments but are not yet in foreclosure. While delinquencies fell, the number of borrowers entering the foreclosure process rose for the first time in a year, driven by a handful of servicers and hard-hit states.
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By Phil Britt | 10/10/2011
Mortgage servicing took center stage at a mortgage banking conference in Chicago on Monday, with industry experts making a case for reform. Panelists at a session on the future of mortgage servicing assured attendees that in five years, the servicing business "will look nothing" like it does today. Executives from such organizations as Freddie Mac, Amherst Securities, and the University of North Carolina advocated for national servicing standards, greater transparency, and new compensation structures.
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By Carrie Bay | 10/03/2011
MISMO, the not-for-profit data standards subsidiary of the Mortgage Bankers Association (MBA), presented its Staff Appreciation Award to Leendert Bijnagte, business systems consultant at Wells Fargo Home Mortgage. The award was presented to Bijnagte at the MISMO September Trimester Meeting in Broomfield, Colorado, for his outstanding commitment and service to MISMO.
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