But a great deal of variation in distress levels were reported between individual markets and property sectors, according to two new reports. https://www.nationalmortgagenews.com/news/cmbs-delinquencies-surge-by-more-than-13-billion-kbra
NextGenMortgage
Homebuyers cancel purchases at highest rate in 10 months
Nearly 60,000 deals to purchase homes fell through in August, according to a report released Friday by Redfin Corp. https://www.nationalmortgagenews.com/articles/homebuyers-cancel-purchases-at-highest-rate-in-10-months
Homes were overvalued in 82% of U.S. metro areas in 1Q: Fitch
But that share is trending downward. In the fourth quarter, nearly nine out of 10 metro areas had home prices that were considered to be above sustainable levels. https://www.nationalmortgagenews.com/news/homes-were-overvalued-in-82-of-u-s-metro-areas-in-1q-fitch
AmeriFirst Financial files for bankruptcy
The company in a court filing suggests it has funds available for its unsecured creditors, led by a private equity firm, major banks and a servicer. https://www.nationalmortgagenews.com/news/amerifirst-financial-files-for-bankruptcy
FHFA gives more flexibility to credit modernization timeline
The Federal Housing Finance Agency also is offering more opportunities for public dialogue as stakeholders debate how fast the process should move forward. https://www.nationalmortgagenews.com/news/fhfa-adds-more-flexibility-to-credit-modernization-timeline