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Mortgage industry outlines low delinquency but warns on affordability, flood insurance and federal regulatory access
Summary
Representatives of the Massachusetts Mortgage Bankers Association and MMBA described low state delinquency rates compared with national trends, continuing concerns over housing affordability, and frustration at reduced access to some federal agencies for educational work.
Debbie Sousa, executive director of the Mass Mortgage Bankers Association (MMBA), and Daryl Caffey, director of retail lending and collections at Webster 5, told the committee Massachusetts mortgage delinquencies remain relatively low but warned that housing affordability and insurance issues pose ongoing risks.
Why it matters: Mortgage industry testimony highlighted a statewide delinquency rate around 1.68% (reported in…
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