Mortgage Bankers Association news stories on Newser

Foreclosures Inch Downward ... a Whole 0.1%

Kevin Spak — Thu, 17 May 2012 11:06:01 CDT

Banks initiated the fewest number of foreclosures since 2007 last quarter, according to new figures from the Mortgage Bankers Associations. But don't be too quick to don the rose-colored glasses: The number of loans in foreclosure remains stubbornly high at 4.4%—down only a hair from last year's 4....

Bankruptcy: Wrong for You, OK for American Airlines

Kevin Spak — Mon, 12 Dec 2011 13:06:02 CST

When American Airlines declared bankruptcy even though it could afford to pay its debts , pundits largely applauded this smart business move. Many homeowners face the same predicament, observes James Surowiecki in the New Yorker : "They can still pay their debts, but doing so is like setting a pile of money...

Mortgage Applications Leap 48%

Kevin Spak — Wed, 24 Dec 2008 09:42:16 CST

Mortgage applications skyrocketed last week, shooting up 48% from the previous week, and 124.6% over the same week last year, according to a Mortgage Bankers Association’s survey. The borrowing blowout was prompted by falling mortgage rates, which left the 30-year fixed-rate at its lowest level since June 2003, the...

Asian Stock Markets Dive

Jim O'Neill — Fri, 07 Mar 2008 06:07:00 CST

Japan’s Nikkei fell 3.3% and Australia’s S&P/ASX2000 dropped 3.2% as woeful US economic news—including rising foreclosures, worsening homeowner debt and impending credit defaults—sent Asian markets reeling, the Associated Press reports. Investors also worried that a key jobs report to be released this morning would show a...

Foreclosures Soar in Q4

Nick McMaster — Thu, 06 Mar 2008 13:55:00 CST

Home foreclosures and mortgage delinquency in the US saw record highs in the last three months of 2007. Reuters reports that 0.83% of US loans entered foreclosure in the fourth quarter, close to double the 0.54% of the same period in 2006. Mortgage delinquency hit 5.82%, the...

Bush Spars With Senators Over Housing Fixes

Lucas Laursen — Wed, 27 Feb 2008 11:56:13 CST

Congressional Democrats are pushing for new bankruptcy rules to help homeowners suffering from the mortgage crisis, the Washington Post reports—though the White House says it will veto any plan that could hurt lenders and send mortgage rates upward. Democrats say enough Republicans from hard-hit states could join them in...

Foreclosure Rate Hits the Roof

Zach Samalin — Thu, 06 Sep 2007 18:23:00 CDT

The number of US home loans entering foreclosure reached an all-time high in the second quarter, a new survey shows, and delinquencies are up to more than 5% of all mortgages. Trouble with adjustable-rate mortgages—an outgrowth of the subprime crisis—is driving delinquencies, CNNMoney reports, with seven Midwest and...

Home Foreclosures Hit Record

Dustin Lushing — Thu, 14 Jun 2007 15:16:00 CDT

Home foreclosures hit a record high in first-quarter 2007 as more subprime borrowers failed to make their mortgage payments. The number of mortgages entering foreclosure spiked four basis points to 0.58% and over 2.4% of subprime mortgage holders defaulted, up from 2% last quarter, according to a report...