Archives For: Industry Updates
Share of Mortgage Loans in Forbearance Decreases to .39% in July
The MBA Loan Monitoring Survey revealed that the total number of loans in forbearance decreased to .39% of servicers’ portfolios as of July 31, 2023.
21 Aug 2023
City of Quincy Accepting Proposals for “Fix or Flatten” Properties for Redevelopment
The city of Quincy is accepting proposals for dangerous building to add to their “fix or flatten” list to be either demolished or redeveloped.
16 Aug 2023
Reducing the Number of Vacant Properties in St. Louis, One at a Time
Funding from the city of St. Louis is helping to restore or demolish vacant, blighted buildings through the north side of the city.
15 Aug 2023
Mayor Mike Duggan, Land Bank Officials Give Deeds to Detroit Residents through Buy Back Program
135 Detroit residents who have been living in land bank-owned homes were given deeds after completing courses provided through the Occupied Buy Back Program.
15 Aug 2023
Dayton Approves New Vacant Home Rehab Program to Create New Market-rate Homes
The city of Dayton and the Montgomery County Land Bank have partnered to fix up vacant homes and sell them as market-rate product.
14 Aug 2023
Mortgage Delinquencies Decrease in the Second Quarter of 2023
MBA reports the mortgage delinquency rate fell to its lowest level since their survey began in 1979, to 3.37% in Q2 2023.
10 Aug 2023
U.S. Foreclosure Activity Dips in July 2023 While Lender Repossessions Continue to Climb
ATTOM has released the July 2023 U.S. Foreclosure Market Report showing foreclosure filings down 9% from a month ago.
10 Aug 2023
Fannie REO Inventory Decreased in Q2
Fannie Mae reported their REO (real estate owned) inventory has decreased at the end of the second quarter of 2023.
9 Aug 2023
Freddie Mac Servicing Guide – Industry Pricing Update
An increase in the reimbursement expense limits for certain expense codes for the preservation and maintenance of vacant properties has been updated for Freddie Mac.
9 Aug 2023
FHA Eyes Electronic Communication with Proposed Modernized Engagement for Defaulting Borrowers
FHA has announced a long-awaited proposal that could revolutionize how mortgage companies engage with borrowers in default.
1 Aug 2023