In March, MBA released its inaugural monthly Purchase Applications Payment Index (PAPI) – an affordability index that measures how new fixed-rate 30-year purchase mortgage payments vary across time relative to income. The third PAPI release on May 26 – based on April MBA Weekly Applications Survey data – gives us a picture of how affordability has been affected by increasing interest rates and elevated loan application amounts in the first third of 2022.
Category: News and Trends
The Week Ahead, June 6, 2022: The MISMO Spring Summit and 4 Other Things to Know
Good morning and happy Monday! We mark the start of another week—and remember the sacrifices of June 6, 1944. Here’s a rundown of what’s happening this week:
Fitch: CMBS Properties See NOI Recovery
Fitch Ratings, New York, reported property-level net operating income for commercial mortgage-backed securities loans rebounded 6.1 percent on average in 2021.
Call for Speakers: MBA Annual Convention & Expo; Deadline June 15
Speaking proposals for breakout sessions are now being accepted for the Mortgage Bankers Association’s Annual Convention & Expo 2022, taking place October 23-26 at Music City Center in Nashville.
Quote
“There are still millions more job openings than people available to fill them, and wage growth remains strong, with average hourly earnings up 5.2% compared to last year. By almost any measure, this is one of the strongest job markets in the past 50 years.”
–Mike Fratantoni, Chief Economist with the Mortgage Banker Association.
Mark P. Dangelo: Paradigm Shift: Data is the Material Value—Systems are Just Enablers
Data has always been valuable, but it has taken on new imperatives as an implication of continuous digital transformation. While cloud computing passes $500 billion in 2022, it will pale in comparison to the rise of digital fabrics where applications and platforms are merely a means to innovation adaptability. Digital fabrics may signal the first stage of failure for FinTech silos.
MISMO Issues Reporting Guide on Forbearance Data Exchange
MISMO®, the real estate finance industry standards organization, launched a new guide and sample credit response to help industry professionals using MISMO Reference Models v3.4 and v3.5 better report on loans that have been in or are in forbearance.
People in the News June 6, 2022: Inlanta Mortgage Promotes Paul Buege to CEO
Inlanta Mortgage, Pewaukee, Wis., promoted Paul Buege to CEO. He has been serving as Inlanta’s president and COO and will retain those responsibilities in addition to his new role.
MBA CONVERGENCE Partner Profile: Dan Ticona of Freddie Mac
Dan Ticona leads the Housing Solutions team within the Single-Family Client and Community Engagement division at Freddie Mac, McLean, Va., focused on developing innovative solutions to reduce barriers to homeownership.
MBA Home For All Pledge Partner: CoreLogic
(One in a series of profiles of MBA member companies that have signed the MBA Home For All Pledge, an initiative to promote inclusion in housing.)