The Federal Housing Finance Agency (FHFA) and the Consumer Financial Protection Bureau (CFPB) today published updated loan-level data for public use collected through the National Survey of Mortgage Originations (NSMO). The data also provide updated mortgage performance and credit information for a nationally representative sample of mortgage borrowers from 2013 to 2021. https://lnkd.in/e-Yne5ES
Federal Housing Finance Agency’s Post
More Relevant Posts
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Key Stats are in for 2023
🚨 BREAKING: HMDA data confirms key trend lines for the mortgage industry: there was significantly less interest in mortgage loans in 2023, and fewer banks thought it worth participating in the market. Read the full story and analysis:
2023 HMDA data: IMBs up to 69% market share - HousingWire
https://www.housingwire.com
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🚨 BREAKING: HMDA data confirms key trend lines for the mortgage industry: there was significantly less interest in mortgage loans in 2023, and fewer banks thought it worth participating in the market. Read the full story and analysis:
2023 HMDA data: IMBs up to 69% market share - HousingWire
https://www.housingwire.com
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🚨 Just released: 2023 HMDA data on mortgage loan applications! Dive in to discover the latest insights and trends. 🏡📊 #MortgageTrends #DataInsights #HMDA2023 JohnHart Real Estate Rosa Peña
2023 HMDA data: IMBs up to 69% market share - HousingWire
https://www.housingwire.com
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Today, the Consumer Financial Protection Bureau issued a report on the mortgage market revealing the impact of higher interest rates on borrowers: - Average monthly payments ⬆️46% - Refinancing activity ⬇️73% We also found higher income-based denial rates and big increases in loan costs. The report draws from a loan-level data set that mortgage lenders report to the Consumer Financial Protection Bureau. In the data, we also see a growing share of cash-out refinances, as well as more borrowers purchasing discount points. I expect that some of these trends will continue in 2023 given further increases in mortgage interest rates. The Consumer Financial Protection Bureau is also working to: · Ensure borrowers can navigate alternatives to foreclosure when faced with financial distress · Find ways to simplify the refinancing process for borrowers · Ensure that mortgage market players follow the law
CFPB Mortgage Report Finds Jumps in Closing Costs and Denials for Insufficient Income, Growing Proportion of Cash-Out Refinances | Consumer Financial Protection Bureau
consumerfinance.gov
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FHA's Payment Supplement program provides a solution that doesn't change the terms of the first mortgage. Our recent blog provides details on this solution, along with potential pitfalls that could impact your implementation of this program as well as future loss mitigation options. Be prepared to help your distressed borrowers navigate economic volatility and avoid default. https://bit.ly/3VwHEbB
Servicing Answers to High Interest Rate Pressures
blog.eclarifire.com
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Cultivating Strong B2B Relationships in Mortgage Finance with the Mortgage Bankers Association | Certified Mortgage Banker | Boy Mom
📢 Dive into President and CEO Bob Broeksmit's latest blog post where he shares his thoughts ahead of #MBAIMB24! 💡 Check it out here:
Read President and CEO Robert Broeksmit's new blog post: Thoughts Ahead of #MBAIMB24: Consumers Benefit from the Large and Diverse Collection of Mortgage Lenders https://lnkd.in/eg8cHjra
Thoughts Ahead of #MBAIMB24: Consumers Benefit from the Large and Diverse Collection of Mortgage Lenders
http://2thepoint.blog
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The proposed move to bi-merge could leave thousands of new mortgage borrowers paying more in interest than if information was pulled from all three credit bureaus. Read the GOBankingRates article to learn more. https://lnkd.in/ezUTKFm6
Housing Market 2023: Changes to Credit Reporting Could Negatively Impact Mortgage Applications
gobankingrates.com
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Check out this interesting article from the Consumer Financial Protection Bureau on mortgage trends over the past year. Habitat is proud to help our partner families achieve their dreams by providing affordable mortgages, meaning no family is paying more than 30% of their income towards housing costs. #AffordableHomeownership #HabitatForHumanity #ConsumerProtection
Today, the Consumer Financial Protection Bureau (CFPB) released its annual report on residential mortgage lending activity and trends. In 2022, mortgage applications and originations declined markedly from the prior year, while rates, fees, discount points, and other costs increased. Overall affordability declined significantly, with borrowers spending more of their income on mortgage payments and lenders more often denying applications for insufficient income. Find more key findings.
CFPB Mortgage Report Finds Jumps in Closing Costs and Denials for Insufficient Income, Growing Proportion of Cash-Out Refinances | Consumer Financial Protection Bureau
consumerfinance.gov
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MORTGAGE BANKERS ASSOCIATION: U.S. mortgage delinquency rate on 1-to-4 residential properties falls to 3.37 percent of all outstanding loans as of end of Q2 2023, the lowest level since 1979. However, Marina Walsh, CMB, MBA’s Vice President of Industry Analysis, notes that the economy is showing signs of consumer credit stress. “Delinquencies are rising for other forms of credit such as credit cards and car loans. In addition, FHA delinquencies rose 10 basis points compared to year ago levels. On a non-seasonally adjusted basis, FHA delinquencies rose 13 basis points year-over-year and 71 basis points from the first quarter of 2023. As the economy slows and labor market cools, homeowners with FHA loans are likely to feel the distress first.” #mortgage #foreclosure #defaultservicing https://lnkd.in/eXi5tdDh
Mortgage Delinquencies Decrease in the Second Quarter of 2023
mba.org
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Increased scrutiny of Complaints Handling.... Consumer protections for BNPL.... Now a public inquiry on Mortgage Junk Fees and Increased Closing Costs.... With high interest rates impacting the banking sector and an even higher focus on consumer protection by the CFPB. These are just a few recent examples of how the Bureau is notably emboldened following the Supreme Court victory affirming their constitutionality. Public inquiries and increased scrutiny don't mean all banks are evil; but it does mean they will be called on to prove they aren't. In the court of public opinion, big banks have always been guilty until proven innocent.
The Consumer Financial Protection Bureau today launched a public inquiry into junk fees that are increasing mortgage closing costs. The Consumer Financial Protection Bureau wants to understand why closing costs are increasing, who is benefiting, and how costs for borrowers and lenders could be lowered. According to a Consumer Financial Protection Bureau analysis, the closing costs borrowers pay in connection with a mortgage have risen steeply in recent years. From 2021 to 2023, median total loan costs for home mortgages increased by over 36%. The unavoidable fees borrowers must pay at closing can strain household budgets and families’ ability to afford a down payment. The fees may also limit the ability of lenders to offer competitive mortgages because they have to absorb the higher costs or pass them on to borrowers.
CFPB Launches Inquiry into Junk Fees in Mortgage Closing Costs | Consumer Financial Protection Bureau
consumerfinance.gov
Managing Director, iTitleTransfer, LLC. Capital Markets & Real Estate: Serving Mortgage Lenders, Loan Brokers, Realtors, Real Estate Lawyers and Title Insurance Agents
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