Foreclosure

“Though mortgage rates are substantially higher than they have been on average over the past decade, from an historic perspective rates are about average,” Freddie Mac said.

“There are select data available to support several alternative views of the path of the economy, though we maintain our view that a modest recession will begin in the second half of 2023,” said Doug Duncan, SVP and Chief Economist at Fannie Mae.

An upcoming Five Star Institute Webinar will delve into the landscape of the mortgage industry over the next 12 months, including a possible rise in home equity loans, a decrease in savings, increased credit card usage, and overall consumer weariness, among other topics.

The Spring Legal League Summit, hosted by Five Star Institute, featured two days of classes, discussions, and networking, followed by a trip to a Texas Rangers Game.

“Negative impacts from the COVID-19 pandemic continue to be experienced by many communities. HUD’s Fair Housing Initiatives Program partners are uniquely positioned to address the housing discrimination concerns of vulnerable populations,” said Demetria L. McCain, HUD’s Principal Deputy Assistant Secretary for Fair Housing and Equal Opportunity.

The American Enterprise Institute and Center for Responsible Lending are jointly warning borrowers that cash-out refinances may worsen their financial stability for years to come by shouldering monthly payments that are significantly higher.

The Five Star Institute presents the first-ever REO Connect event, a gathering of the REO community featuring educational offerings and networking opportunities geared to meet the needs of unique marketplace.

By helping reduce foreclosures and expanding loss mitigation options, HUD’s new rule seeks to help keep more in their homes in times of economic instability.

“Mortgage delinquency rates continued to post some of the strongest performance in three years in December, as a healthy job market helped borrowers remain current on their payments,” said Molly Boesel, Principal Economist at CoreLogic.

While home equity levels remained relatively flat, equity rich properties now make up 48% of all mortgaged properties.