Residential servicers completed roughly 159,000 loan modifications in May, including 112,000 proprietary restructurings and 47,000 HAMP mods, according to The Hope Now alliance. To date, servicers have completed 800,536 permanent loan modifications. Seventy-seven percent of proprietary (non-HAMP) modifications include lower principal and interest payments, which means these programs are being designed for longer-term sustainability and homeownership.
Four new mortgage acquisitions show how companies in home finance are prioritizing advanced technology in what has turned into the year of consolidation.
On Aug. 14, over 30% of the loans sent to Fannie Mae and Freddie Mac from each company were scored using VantageScore 4.0.
About 73% of potential buyers intend to purchase within the next year, up slightly compared to the first quarter, according to a Veterans United survey.
After losing money on production in most quarters between 2022 and 2024, independent mortgage bankers have achieved five consecutive quarters in the black.
So far, annual home lending growth is on track to slow, but not stop, with some positive developments surfacing amid broader challenges.
The overall defect share saw the largest jump in four years, as changes in mortgage rates brought a shift in volume mix, according to ACES Quality Management.
