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By Lorraine Mirabella, The Baltimore Sun | May 19, 2011
Fewer Maryland homeowners were in foreclosure or behind on mortgage payments in the first quarter compared to the same period a year ago, reflecting a loan crisis on the mend, statistics released Thursday show. About 133,000 of the state's nearly 1.1 million residential loans, or 12.6 percent, were either in the foreclosure process or at least 30 days late at the end of March, a 9 percent drop from last year's first quarter, the Mortgage Bankers Association said. The survey, which the group says covers most but not all residential mortgages, showed continuing improvement in the market for Maryland borrowers.
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BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | January 9, 2014
Prepare for a year of more in the real estate industry - more improvement, mostly, but also more expense as mortgage rates, prices and rents rise. Analysts expect a solid 2014 here and nationally, after a year in which the battered housing market got on firmer footing. They predict home values will continue rising and expect to see more choices for home buyers as higher prices pull in more would-be sellers. Moody's Analytics is forecasting an 8 percent rise in average home prices in the Baltimore region this year, compared with a 5.6 percent increase last year.
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BUSINESS
By Bloomberg News Service | March 22, 1992
WASHINGTON -- Reflecting rising interest rates, the U.S. mortgage application index decreased to a seasonally adjusted 193.5 in the week ending March 13, the Mortgage Bankers Association of America said last week.The index, which rose to 204.7 during the previous week, tracks the pace of applications for mortgages and refinancing, both ofwhich increased after rates fell to the lowestlevels since the 1970s.The index for home purchases decreased to a seasonally adjusted 131.2 from 133.4 in the latest reporting week, the mortgage bankers association said.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | November 7, 2013
Maryland had the fifth-highest rate of new foreclosure cases in the nation during the summer, the number increasing from the spring even as many other states improved, the Mortgage Bankers Association said Thursday. It's not a new problem. The mortgage bankers' trade group said the effects of the mortgage crisis, which hit about six years ago, are lingering longer in Maryland and other states that require at least some court involvement before foreclosure auction is permitted. That "tends to slow things up," said the group's chief economist, Jay Brinkmann.
BUSINESS
October 5, 2003
The Maryland Mortgage Bankers Association will hold a Loan Officer University next month for area mortgage professionals. The three-day event is scheduled from 8 a.m. to 5 p.m. Nov. 12, 13 and 14 at Turf Valley Resort & Country Club, 2700 Turf Valley Road in Ellicott City. The event is $299 for members and $399 for everyone else. Information: Call 410-312-4090 or log on to www.mdmba.org.
BUSINESS
By BLOOMBERG NEWS | April 4, 2004
A measure of U.S. mortgage applications fell for a second week after reaching an eight-month high at mid-month, an industry group said Wednesday. The Mortgage Bankers Association's index declined 2.1 percent to 1091.3 last week. The Washington group's index of applications for mortgages to buy homes dropped 1.1 percent to 443.8. Mortgage rates that are close to last year's record low are bringing more homebuyers into the market and encouraging a new round of refinancing. Sales of new and existing homes rose last month, and the National Association of Realtors said last month that it may raise its forecast for this year's resales.
BUSINESS
By BLOOMBERG NEWS | August 28, 2005
U.S. mortgage applications declined for a fourth week in five as an index measuring home purchases fell by the most since early July. The Mortgage Bankers Association said Wednesday that its gauge of purchase and refinancing applications dropped 0.7 percent to 756.2 in the week ending Aug. 19 from 761.3. Purchase applications decreased to 488.4, a 2.2 percent fall that was the biggest since the week ending July 8. Mortgage rates "are still at levels that are conducive to home sales," said Bob Walters, chief economist at Quicken Loans Inc. "We're just seeing a strong desire for real estate."
BUSINESS
By BLOOMBERG NEWS | February 20, 2005
Mortgage applications fell for the first time in three weeks, reflecting a decline in home purchases, an industry report showed. The Washington-based Mortgage Bankers Association said its gauge of mortgage applications declined 0.5 percent to 732.3 in the week ending Feb. 11 from the previous week's 735.9. Home purchase applications dropped 4.8 percent to 423.3 from 444.6. Housing prices rose faster last year than in 2003. The value of previously owned homes rose 8.8 percent in the fourth quarter compared with the corresponding three months a year earlier, according to the National Association of Realtors.
BUSINESS
By BLOOMBERG NEWS | November 7, 2004
A measure of U.S. mortgage applications rose last week to the highest level since the end of April, suggesting housing will keep fueling economic growth, a private group's survey found. The Mortgage Bankers Association's index increased 8.2 percent to 761.7 from the prior week's 703.9, reflecting more home purchases and refinancing. The reading was the highest since 780.9 in the week ended April 30. The index of home purchases jumped 12.6 percent last week to 496.5, the highest since the week ended July 2, helped by mortgage rates that are within a percentage point of last year's record low. "Rates are starting to move back down in the buyer's favor, but I think that is playing much less of a dominant role," said Mat Johnson, director of economics at ThinkEquity Partners in San Francisco.
BUSINESS
By Phil Roosevelt and Phil Roosevelt,American Banker | November 24, 1991
NEW YORK -- An index of mortgage activity offers a glimmer of hope that the nation's sagging market for housing could soon rebound.The index, calculated by the Mortgage Bankers Association of America, measures the volume of applications for loans to buy houses. Since mid-September, it has climbed more than 8 percent, attaining its highest level since May.Economists say the rise reflects consumer enthusiasm about the lowest mortgage rates since the late 1970s.The index, which has been calculated for two years but only recently been made publicly available, generally foreshadows changes in home sales by one or two months.
NEWS
By Luke Broadwater, The Baltimore Sun | August 26, 2012
Inside a small cubicle in Timonium, Jessica Gatton Facini is saving homes. The 26-year-old sorts through foreclosure and lien documents from Baltimore homeowners, identifies a problem and then navigates the bureaucracy of big banks and government agencies in search of a solution. It's a challenging task - some homeowners would say impossible - but Facini wields a weapon most Marylanders do not. When she contacts a bank, her caller I.D. says "U.S. Congress. " As part of a little-known effort, congressional staffers across the country have been calling banks relentlessly to bargain for help for homeowners.
BUSINESS
Jamie Smith Hopkins | May 17, 2012
Good news, bad news: New mortgage-delinquency problems are back to normal levels in Maryland , but the older cases -- borrowers seriously behind on their loans -- aren't receding. Worse news: The state has the nation's 15th highest share of borrowers in the foreclosure process, awaiting auction, and second-highest percentage of borrowers not yet in foreclosure but at least 90 days behind on payments. That's as of March, the newest figures from the Mortgage Bankers Association.
NEWS
By Jamie Smith Hopkins, The Baltimore Sun | May 16, 2012
The share of Maryland homeowners newly behind on mortgage payments fell to the lowest level for March in four years — an important milestone because the state's new-delinquency figure is now better than its pre-crisis average. Just under 3 percent of Maryland homeowners with a mortgage were one payment behind at the end of March, the Mortgage Bankers Association said Wednesday. The average was just over 3 percent between 1979, when the trade group's quarterly survey began, and 2006, before the mortgage and financial meltdowns that pushed the country into recession.
NEWS
By Jamie Smith Hopkins, The Baltimore Sun | May 10, 2012
The Baltimore region saw a double-digit jump in average home sale prices in April, the most in six years — but the gain was driven by a shrinking supply of cheap foreclosures rather than a resurgence in value. Just one in 10 homes sold in the Baltimore area last month was bank-owned, down significantly from the nearly one in four a year earlier, according to numbers released Thursday by RealEstate Business Intelligence, a subsidiary of the regional multiple listing service. That pumped up the average price for a home sold in April to $281,000, a 10 percent increase over a year earlier.
BUSINESS
By Jamie Smith Hopkins, The Baltimore Sun | November 17, 2011
Mortgage servicers have started the countdown to foreclosure on more than 18,000 Maryland homes so far this month, a big uptick that is worrying state officials and could signal an end to about a year of delays related to robo-signing. The increase is in the number of notices sent to borrowers saying that their servicers intend to file a foreclosure case against them — a warning that must come at least 45 days ahead of any action. Fewer than 11,000 notices were filed in all of November 2010, according to state records.
NEWS
By Jamie Smith Hopkins, The Baltimore Sun | August 22, 2011
The number of Maryland homeowners who are behind on their mortgages still is falling, but the pace of that decline has slowed as rising unemployment puts more pressure on borrowers, numbers released Monday show. The number of borrowers who were at least one month behind on their mortgages between April and June fell 4 percent compared with a year earlier, according to the report from the Mortgage Bankers Association. During the previous two quarters, the rate of improvement was around 10 percent.
BUSINESS
By BLOOMBERG NEWS | March 28, 2004
An index of U.S. mortgage applications eased from an eight-month high as purchases slowed last week, an industry group said Wednesday. The Mortgage Bankers Association's index fell 0.2 percent to 1,114.9 last week, the first decrease in six weeks. The Washington-based group's index of purchase applications declined 0.8 percent to 448.9. The measure of refinancing rose 0.1 percent to 4,988.7, the highest since the week that ended July 18, from 4,983.7. The mortgage applications index reached 1,117.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | May 19, 2011
Fewer Maryland homeowners were in foreclosure or behind on mortgage payments in the first quarter compared to the same period a year ago, reflecting a loan crisis on the mend, statistics released Thursday show. About 133,000 of the state's nearly 1.1 million residential loans, or 12.6 percent, were either in the foreclosure process or at least 30 days late at the end of March, a 9 percent drop from last year's first quarter, the Mortgage Bankers Association said. The survey, which the group says covers most but not all residential mortgages, showed continuing improvement in the market for Maryland borrowers.
BUSINESS
By Lorraine Mirabella, The Baltimore Sun | February 17, 2011
In the latest sign the mortgage crisis is easing in Maryland, the number of homeowners facing foreclosure or falling behind on their home loans hit the lowest level since mid-2009, statistics released Thursday show. The number of Marylanders behind on payments in the final three months of last year, including those in foreclosure proceedings, fell 10 percent from the year-earlier period to 140,000, according to the Mortgage Bankers Association. That number accounted for 13.5 percent of the more than 1 million loans in the state, the data showed.
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