It was a productive year for special servicers in 2009, but there's a lot more where that came from, according to a new Fitch Ratings report. Special servicers resolved $8.7 billion in distressed loans last year, or 50% more than the previous year, but there is $74 billion still left in special servicing, Fitch said. In addition, "Recoveries on loans with losses are down markedly compared to prior years," said Fitch managing director Stephanie Petosa.
The Canadian-American bank's first AI agent does the work of gathering any missing documents and verifying data for mortgage applications.
This is the fourth settlement MV Realty reached in the last two months over its controversial homeownership benefits program, which is now illegal in 33 states.
Mortgage payments climbed to a 10-month high in April as rates rose, but strong annual wage growth of 5.3% helped keep the MBA's affordability index nearly flat month to month.
A report from the Financial Stability Board said limited transparency in the private credit market makes it difficult for regulators to monitor and understand risks, potentially masking challenges to the financial system.
The Consumer Financial Protection Bureau is ending remote work and ordering its entire staff to report to a new Washington, D.C., headquarters five days a week.
Beeline already owns 47.6% of MagicBlocks. Its platform has enabled Beeline's chatbot, Bob, which the company says has increased lead to lock conversions by 8%.
