Under the proposal from Urban Institute authors, mortgage servicers would be required to call borrowers within three months to offer refinancing once a payment reduction is triggered.
The overall delinquency rate in agency MBS inched up to 1.97% at the end of June. All of the increase in late payments was seen in the Ginnie Mae program. (Includes data chart.)
Alternate finance options make homeownership possible for first-time buyers unable to access traditional home loans, but more protections are needed to foster sustainable homeownership, according to industry experts.
Low-balance borrowers seeking to refinance pay proportionally higher closing costs and receive a smaller reduction in interest rates, according to findings published by the Federal Reserve.
Lenders that do business with Fannie Mae and Freddie Mac continued to deliver more mortgages with lower credit scores and higher loan-to-value ratios in the second quarter. (Includes two data charts.)
Borrowers in counties with higher rates of voting and census participation and more nonprofits receive faster loan approvals and better terms and exhibit lower rates of delinquency, according to a new study.
Mortgaged property owners retain most climate change-related physical risks and transition risks up to the value of their equity. But lenders, servicers and secondary market buyers also face climate-related risks, the MBA said in a new white paper.
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