Credit rating agency Fitch announced this week that its long-term issuer default rating (IDR) for Finance of America, the reverse mortgage industry’s leading lender, has been downgraded from “CCC+” to “C” following the announcement of a debt restructuring plan that staves off maturity risk beyond 2025. FOA announced late last…
Continue reading →In a difficult housing market for Realtors, experience matters — a lot. That’s the conclusion of the 2024 Member Profile poll from the National Association of Realtors (NAR), which shows a sharp divergence in income when comparing more experienced agents to their less experienced colleagues. The median gross income for…
Continue reading →With the release of the CoreLogic 2024 Q1 Equity Insights report, which Logan discussed last week, and now the FHFA National Mortgage Database Aggregate Statistics, we have a lot of visibility into the financial position of the American homeowner. The important message in the mortgage data is that even as…
Continue reading →The U.S. Department of Housing and Urban Development (HUD) on Wednesday posted an updated draft of its proposed defect taxonomy for servicing Federal Housing Administration (FHA) loan reviews. The revised policy will “provide clear guidance to mortgage servicers regarding FHA’s servicing loan review process, FHA’s assessment of the severity of…
Continue reading →The Consumer Financial Protection Bureau (CFPB) on Wednesday announced a newly proposed rule that would amend Regulation X and require mortgage servicers to emphasize borrower assistance and loss-mitigation options over foreclosure when a borrower struggles to make their required mortgage payments. “The proposed changes would also make it simpler for…
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