Mortgages

The current volume of distressed mortgages is now down by more than 70% from its peak pandemic level.

The entire pool is comprised of fixed-rate, fully amortizing mortgages, with an average balance of $901,373. They are also first-lien loans.

The state, which has grappled for years with a shortage of affordable housing, will see prices rise 5.2% to a median of $834,000 in 2022, according to a forecast by the California Association of Realtors.

The share of borrowers who thought it was a good time to buy hit an all-time low, according to Fannie Mae.

Those leaving forbearance or other relief plans generally had higher credit utilization rates, were more likely to have mortgages, and experienced lower levels of bank card delinquencies, according to TransUnion.

Lawmakers appeared supportive of Alanna McCargo's nomination at a Senate hearing Thursday. If confirmed, the former Urban Institute vice president would fill a role that has been vacant since 2017.

The real estate franchisor will retain its full ownership in the title agency, escrow and settlement services business.

However, economic data points to likely future increases, with investors awaiting numbers from upcoming jobs report.

Other providers like DocMagic and SimpleNexus offer similar services to originators who have yet to adopt the technology in substantial numbers.

Common Securitization Solutions has disbanded a group of independent board members originally brought on in early 2020 to look into using the government-sponsored enterprises’ platform to serve a broader market.

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The purchase of home, mortgage and title assets for roughly $471 million in cash allows the buyer to expand into Houston, Dallas and San Antonio and increase its presence in Austin.

Refinancing volume dropped to its lowest level in three months, while purchases also decreased in number.

The agreement with affiliate partner ForumPay would allow buyers to convert digital assets at a fixed rate and transfer them directly into escrow.

The change could reduce the workout activity expected to spike around what had been final cut-off dates set for this fall.

Appreciation more than tripled the year-ago rate, according to CoreLogic.

The combined companies will have over 6,500 clients for its services.

With COVID-19 protections about to end for thousands, more distressed borrowers are opting for deferral as they exit their plans.

While record price appreciation led to trillions of dollars in equity, forborne borrowers still face the risk of losing their properties, according to Black Knight.

There is $900 million in debt on the land alone, including the $150 million junior loan that is for sale by Jones Lang LaSalle.