Risk management

FHA-insured and Department of Veterans Affairs-guaranteed mortgages bear watching next year, according to Intercontinental Exchange.

Remote work trends and high interest rates have substantially reduced the values of U.S. office buildings. A new academic paper estimates the extent of the deterioration, suggesting that there is perhaps more stress ahead for banks than is widely anticipated.

The loan pool consists of approximately 34,000 single-family mortgages with unpaid principal balances near $11.5 billion.

Instead of buybacks, performing loans could be subject to fees related to defect rates, with some exceptions made for small lenders that deliver a limited volume of mortgages.

Loans more than 90 days past due increased for the first time this year in September, according to ICE Mortgage Technology.

The report comes from Federal Housing Finance Agency Inspector General Brian Tomney's office, which also is keeping an eye on turnover risks at the government-sponsored enterprises.

But a great deal of variation in distress levels were reported between individual markets and property sectors, according to two new reports.

When 55 banks were asked to provide metrics on the health of their commercial real estate borrowers, some of them gave data that was six months old. The survey by Moody's Investors Service also found that certain borrowers are already struggling, and others could hit trouble soon, since they'll need to refinance at high interest rates.

While a majority of current forborne borrowers sought relief for reasons related to COVID-19, servicers are seeing a growing share of cases involving natural disasters or personal financial issues, the Mortgage Bankers Association said.

Firms that had ratings cut included M&T Bank, Webster Financial, BOK Financial, Old National Bancorp, Pinnacle Financial Partners and Fulton Financial.