Articles Tagged with ''MBA''

Short-Term Delinquencies Fall to Pre-Recession Levels

According to a report by the Mortgage Bankers Association, the delinquency rate for mortgage loans on one-to-four-unit residential properties decreased to a seasonally adjusted rate of 8.22 percent of all loans outstanding as of the end of the fourth quarter of 2010. This marks a decrease from 9.13 percent from the previous quarter and 9.47 percent from the previous year. The delinquency rate in this report includes loans that are at least one payment behind, but not loans that are in the foreclosure process.  Although the percentage of loans in the foreclosure process at 4.63 percent is an increase
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The woeful inadequacies of self-policing mortgage servicing

At the Mortgage Bankers Association annual convention this week in Atlanta, there remains a huge question mark of what exactly Dodd-Frank is meant to accomplish. Here's the rub: for all the act's good intentions, it appears to leave mortgage servicing in the same suspended state of self-policing that was prevalent in the boom and bust -- years before the legislation's recent passage into law. Actually, it's worse than that.
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A Dark Day for the Mortgage Industry

If the Mortgage Bankers Association was hoping to show that it’s in touch with the needs of the mortgage servicing industry – and taxpayers, too – a proposal unveiled at last week’s servicing conference in San Diego may quickly have shot that notion to the ground. MBA president and CEO John Courson used the show’s opening remarks to announce that the trade organization was backing what it called a “Bridge to HAMP” proposal for unemployed borrowers.
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VIEWPOINT: The Wrong Way to Think About the Fate of the GSEs

A big topic in MBS markets right now is the scheduled end of the Fed’s pass-through and agency debt purchase programs at year end. But the elephant in the room is the fate of Fannie and Freddie. To a degree not well understood in the public discussion, the Fed’s purchases have replaced the GSE portfolio purchases that in the past helped to maintain a floor on MBS pricing in periods of peak supply and high market volatility (and consequently a ceiling on mortgage loan rates).
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Mortgage Bankers Urge Congress to Replace Fannie, Freddie

The mortgage banking industry is calling for a regulatory overhaul of the secondary mortgage market and a new governmental role in the securitization of mortgage loans. The Mortgage Bankers Association on Wednesday urged the implementation of new mortgage-backed securities (MBS) and a new set of government-regulated mortgage investors and securitization entities.
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13.16% of Mortgages Delinquent: MBA

Single-family mortgages set a new record delinquency rate of 13.16% in Q209, according to the quarterly survey by the Mortgage Bankers Association. The delinquency rate includes mortgages at least one payment past due or in foreclosure. The results were lead by Florida with 12% of mortgages somewhere in foreclosure, another 5% at least 90 days past due and a total 22.8% delinquent at least one payment delinquent or in foreclosure at the end of June. Nevada followed Florida with 21.3% at least one payment past due or in foreclosure.
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GSEs Hold $345 Billion in Multifamily Mortgage Debt

The volume of commercial and multifamily mortgage debt outstanding remained largely unchanged throughout the first quarter of 2009 at $3.48trn. Multifamily mortgage debt outstanding grew 0.6% from Q408 to $908bn in Q109, according to data analyzed by the Mortgage Bankers Association. Government-sponsored enterprises and mortgage giants Freddie Mac [stock FRE][/stock] and Fannie Mae [stock FNM][/stock] hold the largest chunk of outstanding multifamily, with $191bn in federally-regulated mortgage pools and $154bn in their own portfolios.
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Bill Calls for $15,000 Any-Time Home Buyer Credit

The Mortgage Bankers Association (MBA) on Monday declared its support for a Senate bill, S 1230 or the Homebuyer Tax Credit Act of 2009, which expands the current first-time home buyer tax credit from $8,000 to $15,000. The bill also makes the tax credit available to anyone who purchases a principal residence in the year following the enactment of the bill. The MBA is already calling for monetization of the credit at the closing table on the grounds that more consumers will become home buyers if they don't have to struggle to put away a substantial down payment.
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Wells May Offer $4 Billion in Warehouse Lending

Wells Fargo & Co. [stock WFC][/stock] is said to be in discussions to launch a warehouse lending unit that may provide billions of dollars in funding to independent mortgage bankers, Bloomberg reported last week. Wells is already telling lenders the program might provide up to $4 billion in warehouse credit, sources told Bloomberg.
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