Servicing

The commercial mortgage-backed security delinquency rate reached an all-time high in May at 10.04%, up 24 basis points from the prior month.

Allied Irish Bank has signed HML to offer the U.K.’s first 48-hour "hot" standby servicing arrangement for the issuer's £437.6 million ($683 million) securitization of U.K. mortgage assets.

The long-term rate-indicative 10-year Treasury yield slipped below its previous 52-week low of 1.7% early Wednesday morning, signaling downward pressure on rates.

Several contract rates tracked by the Mortgage Bankers Association hit new lows during the week ending May 25, but seasonally adjusted overall application numbers inched downward in data unadjusted for early holiday closes the Friday before Memorial Day.

The president and chief executive of the Mortgage Bankers Association, David Stevens, is stepping down after one year to become the president of SunTrust Mortgage.

Back in the year 2000, when Franklin Raines held the title of chairman and chief executive officer of Fannie Mae, Rep. Richard Baker, R-La., sponsored the Housing Finance Regulatory Improvement Act. This bill not only asked for increased oversight over Fannie and Freddie but also recommended unifying the regulation of Fannie and Freddie under one roof.

Regulators’ efforts to strengthen the oversight of the shadow U.S. banking system, which plays an important role in mortgage-backed securities financing, appear to be paying off.

The Treasury Department’s decision to raise the amount servicers can pay second-mortgage holders for a lien release should give its short sales program a boost, according to an industry expert.

Standard & Poor's reported Tuesday morning that its national home price index fell 2% in the first quarter on a sequential basis.

The NCUA has changed its troubled debt restructuring (TDR) rule to allow credit unions to deem a restructured member mortgage loan current as soon as the loan is closed.