An Insider’s Look Into How Secondary Marketing Evaluates LOs

In this webinar we’ll explore the long-term financial impacts of renegotiations, extensions and fallouts, plus basic guidelines to be viewed as a professional by your secondary marketing department

HousingWire Annual Virtual Summit

Sessions from HousingWire Annual 2021 are going to be virtually streamed on October 25. Register now for FREE to tune into what housing industry leaders had to say this year!

How servicers can access timely, accurate data insights

Learn how to navigate the challenges in today’s market – for example, the need for ongoing, on-demand access to near-real-time data and the ability to access those data insights in a timely and accurate manner.

Steve Murray on new brokerage models, CFPB crackdowns

Today’s HousingWire Daily features a discussion on the emergence of a new brokerage model and the validity behind the concerns against institutional investors.

Mortgage

First mortgage default rate falls to 1.13%

S&P: More homeowners can afford their house

All five national indices showed a drop-off for the second month straight in March, according to the latest report from the S&P Dow Jones Indices and Experian for the S&P/Experian consumer credit default indices.

Falling to the lowest rate since July, the national composite dropped to 1.20% in March, a decrease from 1.30% in February and a drastic decline from 1.50% in March. This is the lowest post-recession rate.

In addition, the first mortgage default rate was 1.13% in March, its lowest level since September 2006.

Second mortgages came in at 0.60% in March, down from 0.69% in February.

“Along with signs that the economy is improving, consumer credit default rates continue to gradually decline,” said David Blitzer, managing director and chairman of the Index Committee for S&P Dow Jones Indices.

“Economic reports confirm these improving trends. Gains were made in consumer confidence and the labor market as a result of fewer applicants filing for unemployment benefits. Consumer default rates have stabilized at levels similar to those seen before the financial crisis,” the report explained. 

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