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S&P Reviews Servicer Escrow and Call Center Administration
The Standard & Poor Spotlight Report evaluating servicer performance looks at several aspects of operation. Data on call center operations and escrow management reveal some effects of the current wave of delinquencies and foreclosures.
US Equities Follow Global Stocks South. Bonds Rallying
Equity futures are once again tracking global markets. That was encouraging yesterday as stocks were recovering, but today is looking more like Monday as equities tank across the globe. China’s Shanghai Composite closed 4.3% lower, subtracting further from Monday’s 5.8% loss, which was its worst day in nine months. Stocks in Europe are also faring poorly with the Euro Stoxx trading down 1.3%, led by a 1.2% fall in Germany’s Dax and a 1.2% fall in England’s FTSE 100.rn
Mortgage Rates Hit 6-Week Low, Spurring New Loans and Purchases
There was nothing but good news in the Weekly Mortgage Applications Survey this morning. Average rates for a 30-year mortgage fell 23 basis points to a 6-week low at 5.15%, helping demand for purchases, refinancing, and new mortgages to all advance.rnrnDemand for refinance-related loans climbed 6.9% in the week ending August 14, nearly erasing the 7.2% decline it had seen in the previous week. The fresh activity helped the Market Composite Index ― which tracks the volume of mortgage applications ― to advance 5.6% in the week, an encouraging contrast when compared to the 4-week average of -0.1%.
Latest Articles
By John Gittelsohn August 24, 2020, 4:00 AM PDT Some of the largest real estate investors are walking away from Read More...
Late-Stage Delinquencies are SurgingAug 21 2020, 11:59AM Like the report from Black Knight earlier today, the second quarter National Delinquency Survey from the Read More...
Published by the Federal Reserve Bank of San FranciscoIt was recently published by the Federal Reserve Bank of San Francisco, which is about as official as you can Read More...