We have reached a hiatus; a moment to pause and reflect…just before impact. I’ve called this time-out as we enter a period which is likely to be the most influential for securitization markets since Ginnie Mae first sold securities backed by a portfolio of mortgage loans almost 40 years ago to the day.
According to Verizon’s 2019 Data Breach Investigations Report, 10% of the 2,013 breaches that occurred in 2018 were within the financial industry. Personal data was compromised in 43% of those breaches, which were largely attributed to privilege misuse, errors or unsecure web applications.
Rising interest rates often cause homebuyers to think twice about moving forward with a mortgage. In April, mortgage applications fell more than 7% after 30-year fixed mortgage rates reached a high for the month.