The delinquency rate on single-family mortgages fell 18 basis points from the third quarter to 4.23% at the end of the fourth quarter, according to the Mortgage Bankers Association.The fourth-quarter delinquency rate was also down 26 bps from one year earlier. The MBA's National Delinquency Survey found improvement for all loan types. Foreclosure rates also declined in the fourth quarter. MBA chief economist Doug Duncan said strong economic growth and low interest rates allowed homeowners to improve their household finances in the last quarter of 2004. Continuing job growth and only modest increases in interest rates suggest that "moderate declines in delinquencies" will continue for the next few quarters, he said. The MBA can be found online at http://www.mortgagebankers.org.
-
While home lenders are seeing a decrease in issues coming through mobile channels, phone fraud spiked last year, accounting for 28% of losses, a new report found.
39m ago -
The massive mortgage business saw a first quarter profit mitigated by nearly $300 million in hedging losses.
April 24 -
The Consumer Financial Protection Bureau has seen excessive property-inspection charges, fees that loan mods should eliminate and improper line-item labels.
April 24 -
Michael Tannenbaum, whose experience in the financial services industry spans over 15 years, has a track record of helping companies scale and grow.
April 24 -
A majority of consumers earning more than $100,000 annually said they were concerned about their own ability to purchase a home, demonstrating how affordability issues are impacting those at many socioeconomic levels, the University of Michigan study found.
April 24 -
The nonbank's results add to other indications that the first quarter's "higher for longer" rate scenario had an upside for efficient servicing operations.
April 24