Mortgage News

• Do We Need More Appraisal Oversight?

  About 10 years ago the appraisal industry got slammed with HVCC. Suddenly we had a new way of getting an appraiser out to see a property with the rollout of the “AMC”. Back then it didn’t seem like a very good idea, but today I think many would say that it was probably for the […]

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• Zillow Says They Lead Offline to Online Transition

  According to Zillow, the entire real estate industry is “transitioning” from offline to online and they, of course, are the leaders in this transition. The truth is, if there is a leader in this supposed transition from offline to online, it’s them. This is such a hard pill for us to swallow over here at […]

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• Early Stage Delinquencies Sink to All-Time Lows

  The Mortgage Bankers Association (MBA) reports that the percentage of non-current mortgages dropped by 35 basis points (bps) in the first quarter of 2021. According to MBA vice president Marina Walsh, it was the largest quarterly decline in delinquencies in the history of the Association's National Delinquency Survey. The national delinquency rate for mortgage loans on one-to-four unit residences was at a seasonally adjusted rate of 6.38 percent at the end of the quarter. The rate includes loans in forbearance if borrowers are not making payments as agreed but does not include loans in the process of foreclosure. The delinquency rate peaked at 8.22 percent in the second quarter of 2020 and within three quarters has dropped by 184 bps to 6.38 percent. Despite the improvements, however, the overall rate is still 202 bps higher than it was at the same point in 2020.