Safeguard Properties

Mortgage Rates Jump to Highest Level Since April – and Inflation Concerns Could Push Them Higher

Posted on by Safeguard

Industry Update
October 14, 2021

Source: MarketWatch.com

Mortgage rates rose back above the 3% mark, hitting the highest level since April, over the past week.

The 30-year fixed-rate mortgage averaged 3.05% for the week ending Oct. 14, up six basis points from the previous week, Freddie Mac FMCC, +2.86% reported Thursday. The high point this year for the benchmark mortgage product came in April when the rate on 30-year loans peaked at 3.18%.

The 15-year fixed-rate mortgage increased seven basis points to an average of 2.3%, while the 5-year Treasury-indexed hybrid adjustable-rate mortgage rose by three basis points to an average of 2.55%.

For full report, please click the source link above. 

 

 

 

 

 

 

 

 

 

 

Ginnie Mae Issued Record MBS Volume in FY2021

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Industry Update
October 14, 2021

Source: National Mortgage Professional

The Government National Mortgage Association (Ginnie Mae) issued a record $939 billion in mortgage-backed securities (MBS) during fiscal year 2021, the association said today.

That included approximately $73 billion issued during September, the association said in a news release.

The record MBS issuance “reflects the strength and value of the Ginnie Mae program in meeting the mortgage needs of homebuyers and rental property owners,” it said in the release. Approximately 263,061 homes and apartment units were financed by Ginnie Mae guaranteed MBS in September, it said.

For full report, please click the source link above. 

 

 

 

 

 

 

 

 

 

 

Safeguard Executives Featured in Panel Discussions at Five Star Conference

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Safeguard in the News
September 19-21, 2021

Source: Five Star Institute

Members of the Safeguard executive team were featured as experts in multiple panel discussions at the 2021 Five Star Conference and Expo this past September.  The event held in Dallas, Texas focused on the mortgage industry’s most pressing topics, providing insight into property management, services, and compliance within the industry.

Safeguard CFO Joe Iafigliola participated on a panel titled Lessons Learned: Adapting Business Practices and Finding a Way Forward.  He provided detail into how the COVID-19 health crisis has affected the property preservation industry, and shared insight into recent innovations that will help to move the industry forward.

Elizabeth Squires, Director of Client Account Management spoke on the challenge of keeping up-to-date on the complex network of federal, state and local regulations that directly impact the mortgage field service industry.  Elizabeth was featured on the panel Rules and Regulations: A State-by-State Update.

Steve Meyer, AVP of High Risk and Investor Compliance shared his thoughts on key concerns for both servicers and vendors as the industry waits for the backlog of foreclosures to start moving again.  He also touched on the responsibility of maintaining these properties as they wait for foreclosure to take place during the panel titled Nobody Home: Property Management for an Industry on Pause.

Safeguard Properties is also a Star Sponsor of the Five Star Conference and Expo.

FEMA Declared Disaster California Alisal Fire

Posted on by Safeguard

FEMA Alert
October 13, 2021

FEMA issued a Fire Management Assistance Declaration for areas in California affected by the Alisal Fire that started October 12, 2021 and continues. The following county has been approved for assistance:

Public Assistance
  • Santa Barbara

California Alisal Fire

 

 

Additional Resources

FEMA’s web site

FEMA’s Disaster Declaration Process

Safeguard Properties Industry Alerts

HUD Moratorium on Foreclosure

VA’s Policy Regarding Natural Disasters

Freddie Mac Disaster Relief Policies

Fannie Mae’s Natural Disaster Relief Policies

Mortgage Delinquency Stats Revealed in Latest CoreLogic Report

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Industry Update
October 13, 2021

Source: mpamag.com

Mortgage delinquency rates in the US dropped 2.3% year over year in July, according to CoreLogic’s latest Loan Performance Insights Report.

Data showed that the share of mortgages in some stage of delinquency was down to 4.2% in July – the lowest rate since March 2020.

For full report, please click the source link above. 

 

 

 

 

 

 

 

 

 

 

Q3 2021 U.S. Foreclosure Activity Begins to See Significant Increases as Foreclosure Moratorium is Lifted

Posted on by Safeguard

Industry Update
October 13, 2021

Source: blackhillsfox.com

ATTOM, licensor of the nation’s most comprehensive foreclosure data and parent company to RealtyTrac, the largest online marketplace for foreclosure and distressed properties, released its Q3 2021 U.S. Foreclosure Market Report, which shows there were a total of 45,517 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — up 34 percent from the previous quarter and 68 percent from a year ago.

The report also shows there were a total of 19,609 U.S. properties with foreclosure filings in September 2021, up 24 percent from the previous month and up 102 percent from September 2020.

For full report, please click the source link above. 

 

 

 

 

 

 

 

 

 

 

Davis: 472 Properties in Danger of Foreclosure

Posted on by Safeguard

Industry Update
October 12, 2021

Source: PressRepublican.com

The Clinton County Treasurer’s Office has filed the combined notice and petition of foreclosure, giving official notice to those who have not paid their property taxes for 2020 or prior years.

At the Clinton County Legislature’s Finance Committee meeting last week, County Treasurer Kimberly Davis explained that those being notified include not only the delinquent taxpayers, but also anyone considered an interested party, such as someone who has a mortgage or lien against a property.

Letters to people who fall into both groups were mailed out last week.

For full report, please click the source link above. 

 

 

 

 

 

 

 

 

 

 

New HUD Rule Aims to Prevent Public Housing Evictions

Posted on by Safeguard

Industry Update
October 11, 2021

Source: FloridaRealtors.org

The Biden administration is trying to prevent evictions from public housing for nonpayment of rent, seeking to shore up protections following the end of the nationwide eviction moratorium.

Under a new rule from the Department of Housing and Urban Development (HUD), tenants in HUD-subsidized public housing cannot be evicted for nonpayment without providing them 30 days’ notice and providing information about available federal emergency rental assistance. The rule was scheduled to be published Thursday in the Federal Register.

For full report, please click the source link above. 

 

 

 

 

 

 

 

 

 

 

Over Half of Delinquent Homeowners have Missed Six Payments

Posted on by Safeguard

Industry Update
October 12, 2021

Source: Mortgage News Daily

While one million homeowners have not made a mortgage payment in 12 months, CoreLogic says about half of the nation’s delinquencies are borrowers who are six months or more past due. Many of these are still leaning on options such as forbearance, loan modifications and other government provisions to keep from entering foreclosure.

For full report, please click the source link above. 

 

 

 

 

 

 

 

 

 

 

Albany City Commission Considers Vacant Property Registry

Posted on by Safeguard

Industry Update
October 05, 2021

Source: Albany Herald

Under the vacant property registration proposal presented to commissioners during a Tuesday work session, owners of vacant structures and foreclosed properties would pay a $100 registration fee.

For full report, please click the source link above.