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By property type, lodging assets led the way for total delinquencies, with 6.3%, while some 3.5% of the lodging pools were current and specially serviced.

In conversation with Patti Cook, CEO of Finance of America Companies

But the sluggish pace of refinances brought down overall application numbers last week.

Homes securing the portfolio produce an average monthly rent of $2,405, based on gross potential rent for vacant properties, and an average remaining lease term of eight months.

The share of existing properties acquired by single-family rental providers has fallen by 24 percentage points since 2019, while surging BFR numbers made up much of the difference.

Consumers should be sharing in the benefits from this fiscal year’s expected earnings of $8.8 billion, said the CHLA's Scott Olson.

The year-over-year increase in reports was the largest in several years for both lending/finance companies and government-sponsored enterprises, according to the Treasury Department’s Financial Crimes Enforcement Network.

Nationally, prices jumped 19.2%, the fourth-biggest jump in data going back 35 years.

Wells Fargo won an early round in a lawsuit accusing the bank of running a predatory mortgage lending scheme in the Atlanta area before the 2008 financial crisis and continuing to discriminate against minorities for more than a decade afterward.

Securitization would have to see more cycles before the full effect of the COVID-19 pandemic becomes apparent, but loans backing multi-borrower SFRs show more sensitivity to rent collection disruptions.

A majority of housing experts also believe first-time homeownership should hit 2019 levels again within four years; however, a substantial number don’t expect it this decade.

An analysis of Home Mortgage Disclosure Act data reveals that banks continue to trail nonbanks in volume and another reveals that despite some improvement, inequities in lending to minority groups persist.

The Consumer Financial Protection Bureau will potentially be banning business practices, forcing the divestiture of business lines and working with state agencies to revoke licenses, Director Rohit Chopra said Monday. He called out five big banks by name for repeatedly crossing legal lines.

The permanent staff reductions appear to be concentrated in originations, where pretax income has been lower and outpaced by earnings generated by the servicing division, in line with broader industry trends.

The Secured Overnight Financing Rate is a concept in search of an actual forward market, writes Whalen.

As the effects of the pandemic continue to reshape the rhythms of the industry, mortgage lenders and brokers others predict a busy, competitive landscape but say more non-QM loans will fill volume gaps caused by low supply.

Wells Fargo will start letting customers earn points and miles on their rent payments as the banking giant deepens its push into credit cards. 

While the median income rose 1% over the last year, the median price of a home rose a staggering 25%, according to the the Federal Reserve Bank of Atlanta.

More properties on the market are also selling quicker, with almost 60% now receiving accepted offers within two weeks.

More than half of the seriously delinquent mortgages that did not have this type of payment relief were originated prior to ability-to-repay requirements enacted following the Great Recession, the latest Federal Reserve Bank of Philadelphia study found.