Posts Tagged ‘FHA’

Mortgage Delinquencies Rise After Hurricanes

Posted on December 11, 2017 by Laura Lam

The three major hurricanes that caused devastation during August and September were largely responsible for the third-quarter increase in mortgage delinquencies.  The seasonally adjusted delinquency rate of 4.88% was 64 basis points higher than the second quarter, according to the Mortgage Bankers Association’s National Delinquency Survey. The 30-day delinquency rate was responsible for 50 basis points of that increase, said Marina Walsh, the MBA’s vice president of industry analysis.  Compared with one year ago, delinquencies were 36 basis points higher. “Hurricanes Harvey, Irma and Maria caused disruptions and destruction in numerous states,” Walsh said. “Florida, Texas, neighboring states, as well…

Americans are Getting Better at Paying Mortgages

Posted on September 05, 2017 by Laura Lam

Over the last few weeks, report after report all show the same thing – more Americans are paying the mortgages on time right now than at any time since the housing crisis.  A recent Black Knight Financial Services report showed that there were fewer loans in foreclosure in the month of July than in any month in more than 10 years. Recent data from Transunion showed that mortgage delinquency rates fell to the lowest rate in 10 years during the second quarter, while a recent report from S&P Dow Jones Indices and Experian showed that in July, the average mortgage default rate hit its lowest level in a decade. The most recent report from CoreLogic showed that…

Mortgage Industry Predictions for 2017

Posted on January 09, 2017 by Laura Lam

What does 2017 have in store for the mortgage industry?  Eight industry experts weigh in on what they see coming in the next year for origination, servicing, technology and regulation.  A (Home) Buyer’s Market – “First-time buyer activity will surge as refinances dry up. Realtor relationships will be everything in the year ahead.” ~ Gary Acosta, Co-Founder and CEO, National Association of Hispanic Real Estate Professionals Generation Gap – “We can expect that in 2017 the purchase market will increase significantly due to multiple factors, including the rise in wealth and homeowner readiness among millennials. As companies try to meet…

FHA to Increase Loan Limits for 2017

Posted on December 12, 2016 by Laura Lam

The Federal Housing Administration will increase its national loan limit “floor” to $275,665 in 2017 from $271,050. This limit is set at 65% of the national conforming loan limit, which the Federal Housing Finance Agency said would expand to $424,100.  The agency also said that its loan limit “ceiling” in high-cost areas would rise to $636,150 from $625,500. The ceiling figure is 150% of the national conforming loan limit. The loan limit “floor” applies to areas where 115% of the median home price is less than 65% of the national conforming loan limit. Wherever the loan limit is higher than…