The average size of commercial MBS loans moved into 'special servicing' has more than doubled over the past 12 months, according to Fitch Ratings. Five of the loans newly transferred into special servicing in January had balances of more than $100 million, the rating agency said. In total, 248 loans totaling $4.27 billion moved into special servicing during the month. This is more than four times the balance transferred during the same month a year ago.
Federal Reserve Vice Chair for Supervision Michelle Bowman said Friday that she believes price growth is still heading toward the central bank's 2% target when factoring out one-time shocks such as tariffs and elevated oil prices.
Consumers sued 11 more industry players in the past two months over alleged unwanted contact, as the pace of spam call class action cases increases.
Deephaven expanded its HELOC product for wholesale lenders, Attom launched an AVM model and First American added an AI assistant to its title platform.
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.
