Safeguard Properties

MBA Launches Member Action Pledge to Promote Minority Homeownership, Affordable Rental Housing, DEI

Posted on by Safeguard

Industry Update
October 18, 2021

Source: Mortgage Bankers Association

Kristy Fercho, MBA Chairman, and Executive Vice President and Head of Home Lending at Wells Fargo, today announced the Home for All Pledge, a Mortgage Bankers Association (MBA) member company action pledge to promote minority homeownership; affordable rental housing; and company diversity, equity, and inclusion. The action pledge was revealed during Fercho’s keynote address at MBA’s Annual Convention & Expo.

 

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

MBA Raises Volume Forecast even with Uncertainty Over Fiscal Policy

Posted on by Safeguard

Industry Update
October 19, 2021

Source: The Anand Market

The Mortgage Bankers Association raised its genesis forecast for 2021, but the outlook of its economists remains more conservative than that of Fannie Mae and Freddie Mac.

It now predicts the industry will generate $3.85 trillion in borrowing volume this year, which compares with its September forecast of $3.74 trillion. Fannie Mae and Freddie Mac both now expect industry loan origination top $4 trillion for the second consecutive year; Freddie Mac also believes that 2021 will end with a slightly higher volume than 2020.

 

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

Freddie Mac: Strong Housing Market will Continue even as Rates and Prices Rise

Posted on by Safeguard

Investor Update
October 15, 2021

Source: Freddie Mac

Freddie Mac (OTCQB: FMCC) today predicted the continued strength of the single-family housing market even as mortgage rates are expected to modestly increase and home prices rise. A new Quarterly Forecast released by the company’s Chief Economist estimates continued levels of homebuyer demand and a growth in purchase originations in 2022.

 

To access full summary, please click the source link above.

Freddie Mac Announces Pricing of $381 Million Multifamily Small Balance Loan Securitization

Posted on by Safeguard

Investor Update
October 15, 2021

Source: Freddie Mac

Freddie Mac (OTCQB: FMCC) announces the pricing of the SB91 offering, a multifamily mortgage-backed securitization backed by small balance loans underwritten by Freddie Mac and issued by a third-party trust. The company expects to issue approximately $381 million in SB Certificates (SB91 Certificates), which are expected to settle on or about October 22, 2021. Freddie Mac Small Balance Loans generally range from $1 million to $7.5 million and are generally backed by properties with five or more units. This is the tenth SB Certificate transaction in 2021.

 

To access full summary, please click the source link above.

This is the Most At-Risk Housing Market in America

Posted on by Safeguard

Industry Update
October 14, 2021

Source: 24/7 Wall St.

Based on an index of three measures (foreclosure rates, share of underwater mortgages and affordability) at the county level, 24/7 Wall St. identified the most at-risk housing markets. All data was compiled from the first-quarter 2021 Special Coronavirus Report on the susceptibility of county-level housing markets to risks arising from the coronavirus pandemic from ATTOM Data Solutions, a real estate and property data company.

 

For full report, please click the source link above.

 

 

 

 

 

 

 

 

 

 

 

UWM Completes Test of Cryptocurrency Mortgage Payments

Posted on by Safeguard

Industry Update
October 14, 2021

Source: National Mortgage Professional

United Wholesale Mortgage evaluated and accepted the first-ever cryptocurrency mortgage payment in September and an additional five payments in October from borrowers.

UWM used these payments as a model to better assess scaling cryptocurrency payments for consumers, according to the company.

For full report, please click the source link above. 

 

 

 

 

 

 

 

 

 

 

Weekly Initial Unemployment Claims Decrease to 293,000

Posted on by Safeguard

Industry Update
October 14, 2021

Source: Calculated Risk Finance and Economics

In the week ending October 9, the advance figure for seasonally adjusted initial claims was 293,000, a decrease of 36,000 from the previous week’s revised level. This is the lowest level for initial claims since March 14, 2020 when it was 256,000.

For full report, please click the source link above. 

 

 

 

 

 

 

 

 

 

 

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

Posted on by Safeguard

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

Posted on by Safeguard

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.