Northmarq, Minneapolis, refinanced four retail properties for a combined $12.8 million.
Category: News and Trends
MBA Advocacy Update June 27, 2022
Last week, the House Financial Services Committee once again considered down payment assistance legislation targeted toward first generation, first-time homebuyers. On Tuesday, MBA and the National Fair Housing Alliance announced a new online toolkit for mortgage lenders interested in developing Special Purpose Credit Programs.
Anita Bush of FICS: Mortgage Servicers Must Improve Support for Borrowers with Limited English Skills
Mortgage servicers must provide language resources for borrowers with limited English proficiency. The 2020 Census confirmed what mortgage professionals have experienced over the past decade – America’s diversity increases every year with minority homeownership growing rapidly.
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“Saving for a down payment is one of the biggest hurdles first-time buyers face. Special Purpose Credit Programs can provide lenders with an effective way to serve minority groups who do not have access to generational wealth to use as part of their down payment.”
–Mortgage Bankers Association President and CEO Robert Broeksmit, CMB.
MBA Chart of the Week June 24, 2022: Median Payment by Conventional/Government Loan
The national median mortgage payment was $1,897 in May, a slight increase from $1,889 in April and $572 higher than in May 2021, according to this week’s Purchase Applications Payment Index release.
MBA, Winnow Solutions LLC Partner to Help Members with Compliance Research, Costs
The Mortgage Bankers Association and Winnow Solutions LLC, Anaheim, Calif., announced a partnership that will provide MBA member subscribers – at a 10% discount rate – a comprehensive database of state and federal regulations to help control costs and better manage the growing complexity of mortgage regulations.
Aaron Davis and Jonathan Kearns: Making the Case for Universal eClosings
They’re now legal almost nationwide and they were boosted by the pandemic. But they’re still not the mainstream of closings. Here’s why they should be.
People in the News June 28, 2022: VA Loan Guaranty Service Taps John Bell III as Executive Director
Loan Guaranty Service of the Department of Veterans Affairs appointed John E. Bell III as Executive Director, effective immediately.
MISMO Issues Updated Engineering Guideline 7
MISMO®, the real estate finance industry standards organization, released its updated MISMO Engineering Guideline (MEG) 7, which establishes class words that enable consistency in naming and structure of data point names.
Industry Briefs June 28, 2022: Boston National Title, Clarifire Partner on Streamlined Default Servicing
Boston National Title Agency announced a strategic alliance with Clarifire, Charlotte, N.C. Users of CLARIFIRE for default servicing and loss mitigation will now benefit from its integration with platforms from Boston National Title.